Sept 23 (Reuters) - Kansas Department of Commerce, Bill

Gates-backed TerraPower and Evergy ( EVRG ) signed a memorandum

of understanding on Tuesday to explore sites for a nuclear

reactor project and an energy storage plant, amid soaring demand

for power.

U.S. nuclear power is gaining traction after decades of

stagnation, fueled by surging electricity demand from

energy-hungry data centers and the electrification of

transportation and manufacturing industries.

In late May, President Donald Trump

signed

executive orders directing the U.S. Nuclear Regulatory

Commission to streamline regulations and expedite licensing

processes for reactors and power plants.

The companies intend to assess site-specific characteristics

for a potential advanced nuclear power plant and evaluate the

technical design of TerraPower's flagship technology, including

its ability to support Evergy's ( EVRG ) customers.

Evergy ( EVRG ) serves 1.7 million customers across Kansas and

Missouri.

TerraPower's Natrium technology is a 345-megawatt

electrical (MWe) sodium-cooled fast reactor paired with a molten

salt-based energy storage system. The storage system can

increase the reactor's output to 500 MW during periods of high

demand while maintaining steady base output.

In June, TerraPower secured $650 million in funding,

with contributions from founder Bill Gates and the venture

capital arm of chipmaker Nvidia ( NVDA ).