Power companies run by Bill Gates and Warren Buffett have announced plans to launch a small advanced reactor in Wyoming. The Natrium nuclear reactor project will use the site of a retiring coal plant. Gates' company TerraPower and power company PacifiCorp, owned by Buffett’s Berkshire Hathaway, have said that the exact location of the demonstration plant will be announced by the end of the year. The technology features a 345Mw sodium-cooled fast reactor with molten salt-based energy storage system. The storage technology can boost the system’s output to 500Mw of power for more than five and a half hours when needed, which is equivalent to the energy required to power around 400,000 homes.