Bill Gates' nuclear firm TerraPower and the China National Nuclear Corporation have signed an agreement to develop a world-first nuclear reactor, using other nuclear reactors' waste

TerraPower chairman Bill Gates and Chinese premier Li Keqiang signed a joint venture agreement to create the Global Innovation Nuclear Energy Technology company, which will build a Travelling Wave Reactor and commercialise the technology.

This joint venture aims to design and construct multiple nuclear power plants generating around 1150 megawatts over the next two decades which utilise this fourth generation nuclear technology.

It expands a joint technology agreement between the two businesses signed in 2015.