GOVERNMENT FINANCE

Terrestrial Energy Awarded US Government Grant for IMSR Development

Terrestrial Energy | November 26, 2021

US Government
Terrestrial Energy USA was awarded a $3 million grant from the U.S. Department of Energy (DOE) to support licensing and commercialization of its Integral Molten Salt Reactor (IMSR), a Generation IV nuclear power plant. The largest of the DOE awards announced Nov. 18, the award supports modeling and simulation for the off-gas systems of the IMSR power plant, supporting the company’s regulatory program for U.S. NRC licensing.

“Advanced reactors will completely change the way we engineer, build, and operate nuclear reactors,” said Dr. Kathryn Huff, Principal Deputy Assistant Secretary for Nuclear Energy, in a press release announcing the awards. “These awards support technical and regulatory strides necessary for commercializing new carbon-free nuclear technologies poised to help our nation reach net-zero emissions by 2050.” 

Terrestrial Energy is developing its IMSR Generation IV small modular reactor (SMR) power plant for commercial deployment in the late 2020s and is engaged with regulators in the United States and Canada. The Generation IV molten salt technology used by the IMSR power plant delivers a 50 percent increase in the thermal efficiency of electric power generation compared to power plants that use conventional – water-moderated-water-cooled –reactor technology. This provides a step-change improvement in the economics of nuclear power generation while preserving nuclear energy’s carbon-free and resiliency advantages over other energy sources.

“We value this grant and the Department of Energy’s support as we work to license and commercialize the IMSR nuclear power plant in the United States. It is encouraging that DOE sees the potential of Generation IV technologies and the IMSR. These grant programs support private companies as they work to deliver nuclear power technologies that can succeed in competitive global energy markets and deliver global net-zero goals. Technologies such as our IMSR Generation IV nuclear plants will produce reliable, cost-competitive heat and power without emissions, making them uniquely capable of competing with fossil fuels.”

Terrestrial Energy USA CEO Simon Irish

About Terrestrial Energy USA
Terrestrial Energy USA, based in Charlotte, NC, is developing the Integral Molten Salt Reactor (IMSR) for U.S. market deployment. The IMSR is a non-Light Water Reactor that uses Generation IV technology to generate electricity 50 percent more efficiently than conventional – water-moderated-water-cooled – nuclear reactor technology. The IMSR represents a step-change improvement in economics, versatility and functionality of nuclear power plants that is possible only with Generation IV technology. IMSR power plants will provide resilient, reliable, dispatchable, zero-carbon and cost-competitive electric power, as well as high-grade industrial heat for use in many industrial applications, such as chemical synthesis, hydrogen production and desalination, and in so doing extend the application of nuclear energy far beyond electric power markets. IMSR power plants have the potential to make important contributions to industrial competitiveness, energy security, and economic growth.

Spotlight

This statement is for trustees of all occupational defined benefit (DB) pension schemes and their sponsoring employers. It is particularly relevant to those whose valuations have effective dates between 22 September 2017 and 21 September 2018 (Tranche 13, or T13 reviews). However, many of the messages are also relevant for other schemes, especially those undergoing significant changes that require a review of their funding and risk strategies.

Spotlight

This statement is for trustees of all occupational defined benefit (DB) pension schemes and their sponsoring employers. It is particularly relevant to those whose valuations have effective dates between 22 September 2017 and 21 September 2018 (Tranche 13, or T13 reviews). However, many of the messages are also relevant for other schemes, especially those undergoing significant changes that require a review of their funding and risk strategies.

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