Hugh Pickens writes "The Wall Street Journal reports that TerraPower, an energy start-up backed by Microsoft co-founder Bill Gates, is in discussions with Toshiba Corp. to develop a small-scale nuclear reactor that would represent a long-term bet to make nuclear power safer and cheaper. Toshiba confirmed it is in preliminary discussions with TerraPower, a unit of Intellectual Ventures, a patent-holding concern partially funded by Gates and Toshiba spokesman Keisuke Ohmori says the two sides are talking about how they could collaborate on nuclear technology although discussions are still in early stages and that nothing has been decided on investment or development. TerraPower has publicly said its Traveling Wave Reactor could run for decades on depleted uranium without refueling (PDF) or removing spent fuel from the device. The reactor, the company has said, could be safer, cheaper and more socially acceptable than today's reactors. Gates's recent focus on nuclear power has been fueled by an interest in developing new power systems for developing countries where he says that new energy solutions are needed to combat climate change. Terrapower faces a lengthy, multi-year process to get its “traveling wave” reactor concept reviewed by regulators but if TerraPower succeeds in advancing its plans, it could provide an alternative blueprint for the nuclear industry at a time when new reactors may be coming online."