Toshiba Corp and Microsoft Corp chairman Bill Gates are to work together to develop an advanced nuclear reactor, the Nikkei business daily reported Tuesday without citing sources.

The joint project would develop a next generation “travelling-wave reactor”, which could operate for up to 100 years without refuelling, the paper said. At present, light-water nuclear reactors require refuelling every few years.

Toshiba would provide Gates’ company, TerraPower, with the expertise to manufacture nuclear power equipment. Gates is expected to invest his personal wealth on the development of the reactor, the paper said.

Toshiba developed a design for an ultra-compact reactor that can operate continuously for 30 years, and is seeking US approval, hoping to begin construction as early as 2014, the Nikkei said.

Toshiba shares climbed 3.78 percent as of 1 p.m. Tuesday.