CALGARY, Alberta, March 07, 2023 (GLOBE NEWSWIRE) -- Terrestrial Energy, an advanced nuclear technology company, has opened an office in Calgary, Alberta, to support the commercial development of the company’s Integral Molten Salt Reactor (IMSR) plant for industrial cogeneration in Western Canada.
Terrestrial Energy’s new Alberta operations will expand its partnerships with Alberta’s industry, its academic institutions, suppliers, local and indigenous communities, as well as municipal and provincial governments. Terrestrial Energy’s focus in Alberta will support high-quality engineering and industrial jobs to deliver IMSR cogeneration plants to multiple industries, bringing Terrestrial Energy’s world-class partnerships to Alberta, and supporting the province’s emissions reductions goals.
The fission technology and plant design choices used by the IMSR plant meet the economic and net-zero objectives of energy-intensive industries. The plant is designed to be small and modular, but its use of molten-salt reactor technology delivers transformative advantages. Central to this is its zero-carbon high-temperature (580°C) heat supply, which is essential for many industries operating in Alberta and across Western Canada.
“Alberta’s government is proud to create an environment that attracts forward-thinking companies on the cutting edge of technological change like Terrestrial Energy. Innovative SMR technology has great potential to strengthen and diversify Alberta’s economy, and Terrestrial Energy’s investment in our province is even more proof of the Renewed Alberta Advantage. More and more investors are choosing to come to Alberta for our skilled workforce and low-tax, business-friendly environment. I can’t wait to see the next game-changing innovations in our province.”
- Brian Jean, Minister of Jobs, Economy and Northern Development
“Terrestrial Energy’s investment into an office in Calgary is welcome news for the Alberta government. Our government has worked hard to ensure Alberta provides a corporate climate that allows organizations like Terrestrial Energy to come to our province and thrive. This investment is another tip of the hat towards that investment climate. This move is also a massive step for Alberta’s nuclear energy future that will help many communities around Alberta.”
- Rajan Sawhney, Minister of Trade, Immigration and Multiculturalism
“Terrestrial Energy’s expansion into Alberta reflects the potential Alberta holds for energy transition and emission reduction. Innovative nuclear technology companies like Terrestrial Energy are paving the way toward a net-zero future – and its investment in Alberta will create 29 more jobs in a sector that is seeing rapid growth in our province.”
- Rick Christiaanse, CEO, Invest Alberta
“Calgary is a global leader in cleantech innovation and companies like Terrestrial Energy will help power our pathway to a net-zero economy. Our city is home to experts in all things energy and has the companies, capital and talent to achieve Canada’s energy transition goals.”
- Brad Parry, President & CEO, Calgary Economic Development
“Alberta is a global energy hub with a track record of pursuing innovation in energy markets. Today its industries are investigating the potential of nuclear innovation to deliver transformative changes, supported by the provincial government’s continued focus on innovation and growth. We look forward to growing our company in Alberta and delivering the first operating IMSR cogeneration plant, and by doing so demonstrate a solution to the greatest unsolved problem on the global pathway to net-zero: clean thermal energy supply for global industry.”
- Simon Irish, CEO of Terrestrial Energy
In August 2022, Terrestrial Energy signed an Memorandum of Understanding (MOU) with Invest Alberta, the Government of Alberta’s crown corporation promoting high-value investments to support the commercialization of the IMSR cogeneration plant. Under the terms of the agreement, Invest Alberta will work with Terrestrial Energy on federal and provincial policies, and industrial incentives supporting transformative energy innovation in the province.
Terrestrial Energy has invested over $100 million in its Ontario operation, where it employs more than 100 personnel who supported its multi-year Vendor Design Review engagement with the CNSC. The Company is engaged with industrials operating energy-intensive plant infrastructure in multiple jurisdictions worldwide.
About Terrestrial Energy
Terrestrial Energy is developing for near-term commercial operation a zero-emissions cogeneration plant for global industry using its proprietary Integral Molten Salt Reactor (IMSR) fission technology in an innovative, small and modular plant design. The IMSR is a non-Light Water Reactor of the Generation IV class that operates at the high temperature required for broad industrial relevance with transformative economic potential. The IMSR plant is capable of grid-based electric power generation and industrial cogeneration in many energy-intensive industries, including petrochemical and chemical synthesis for hydrogen and ammonia production. The IMSR plant offers a near-50 percent improvement in efficiency of electric power generation compared to Light Water Reactor nuclear plants. Its industrial cogeneration capability delivers to today’s markets industrial competitiveness, security of energy, and zero-emissions industrial production. The IMSR plant’s use of existing industrial materials, components, and fuels supports its near-term deployment, setting the stage for a rapid global decarbonization of the primary energy system.
E-mail: info@terrestrialenergy.com
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