CHARLOTTE, N.C., Nov. 24, 2021 (GLOBE NEWSWIRE) — 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,” said Terrestrial Energy USA CEO Simon Irish. “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.”
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. Their deployment will support rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum and can scale to meet net-zero policy goals of major industrial economies. Using an innovative design, and proven and demonstrated molten salt reactor technology, Terrestrial Energy USA is engaged with regulators and industrial partners to complete IMSR engineering and to commission first IMSR power plants in the late 2020s.