South Korea's SK invests $250 million in Bill Gates' TerraPower for nuclear power tech

The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji

SEOUL, Aug 15 (Reuters) - South Korea's SK Inc (034730.KS) said on Monday it and an affiliate invested $250 million in TerraPower, a U.S. venture founded by billionaire Bill Gates that develops small-sized nuclear power reactors, called small modular reactors.

SK Inc, the holding company of South Korea's second-largest conglomerate SK Group, said it made the investment with affiliate SK Innovation (096770.KS) as part of a total $750 million fundraising round co-led by Gates.

The investment in small modular reactors, which SK said is a competitive carbon-free energy source, goes toward SK Group's pledge in 2021 to reduce 200 million tons of carbon emissions by 2030, SK said in a statement.

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Reporting by Joyce Lee; editing by Jason Neely

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