SALT LAKE CITY, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Terrestrial Energy Inc., a developer of small modular nuclear power plants utilizing advanced reactor technology, and EnergySolutions, a leading supplier of environmental remediation services to the nuclear energy industry and owner of brownfield sites for new nuclear deployment, have entered into a Memorandum of Understanding (MOU) to collaborate on the siting and deployment of Integral Molten Salt Reactor (IMSR) plants at EnergySolutions-owned sites.
EnergySolutions is a market-leading supplier of nuclear decommissioning and decontamination, waste processing, and disposal services in the United States and Canada. In June 2023, EnergySolutions announced a study of former nuclear sites acquired by the company to determine potential locations for new nuclear generation. Terrestrial Energy and EnergySolutions have assessed these sites in North America as potential locations for IMSR plants to benefit from accelerated deployment schedules. Under the terms of this MOU, the parties have agreed to evaluate these sites and select the most suitable.
“This year we have observed a rapid increase in anticipated demand growth for clean, firm heat and power driven by significant load-growth from key sectors, such as data centers supporting AI operations, and industrials seeking distributed clean energy solutions to achieve their strategic goals,” said Ken Robuck, CEO of EnergySolutions. “Terrestrial Energy’s IMSR plant is uniquely positioned to meet this growing demand at a time when small and modular nuclear power plants, leveraging advanced reactor technologies, are now in the spotlight as high-performance and transformative supply solutions.”
“EnergySolutions has a portfolio of sites and deep expertise to support the regulatory actions necessary for site selection and deployment of IMSR plants,” said Simon Irish, CEO of Terrestrial Energy. “We look forward to collaborating with EnergySolutions and other project consortium parties, including those interested in offtake agreements for clean, firm power and heat at gigawatt-scale, as well as project partnerships with state and federal governments.”
Terrestrial Energy’s IMSR plant uses molten salt reactor technology for an affordable and financeable nuclear plant that generates low-cost, clean, firm and reliable industrial heat and electric power. IMSR plants’ thermal and electric power supply systems can be customized to meet specific site demand requirements, enabling them to support distributed generation for chemical, oil and gas, petrochemical, data centers and other energy-intensive industrial activities.
Big Tech companies, including Microsoft, Google, Amazon, Oracle, Nvidia and others, have recently announced intentions to use nuclear power in future operations. Nuclear power is the only source at the necessary multi-gigawatt scale that can supply clean, firm, reliable, low-cost, heat and power, 24/7, an essential requirement to industry.
About EnergySolutions – www.energysolutions.com
EnergySolutions, founded in 2006, is a leading international nuclear services company headquartered in Salt Lake City, Utah, with additional operations in Charlotte, North Carolina. The company specializes in the safe transportation, processing, recycling, and disposal of radioactive materials, serving clients across the United States, Canada, Asia, and Europe. The company's services encompass decommissioning and decontamination of nuclear facilities, management of spent nuclear fuel, and environmental remediation. EnergySolutions operates licensed disposal sites, notably in Clive, Utah, and Barnwell County, South Carolina, facilitating the safe disposal of radioactive waste. EnergySolutions' clientele includes government agencies, commercial nuclear power generators, research facilities, national laboratories, and medical institutions worldwide. The company's commitment to safety and environmental stewardship underscores its role as a trusted partner in the nuclear services industry.
About Terrestrial Energy – www.terrestrialenergy.com
Terrestrial Energy is a developer of Generation IV nuclear plants that use its proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology captures the full transformative operating benefits of molten salt reactor technology in a plant design that represents true innovation in cost reduction, versatility and functionality of nuclear energy supply. IMSR plants will supply zero-carbon, reliable, dispatchable, low-cost high-temperature industrial heat and/or electricity for a dual-use energy role relevant to many industrial applications, such as chemical synthesis, desalination and data center operation. In so doing, they extend the application of nuclear energy far beyond electric power markets. IMSR plants have the potential to make substantial contributions to industrial competitiveness, energy security, and economic growth. Their deployment will support rapid global decarbonization of the primary energy system across a broad spectrum. Terrestrial Energy uses an innovative design, together with proven and demonstrated molten salt reactor technology, which offers a unique set of operating characteristics to deliver high and compelling commercial potential. Terrestrial Energy is engaged with regulators, suppliers and industrial partners to build, license and commission IMSR power plants for operation in the early 2030s.
For additional information about this press release please contact:
Mark Walker at EnergySolutions at (801) 231-9194 or mwalker@energysolutions.com
Jarret Adams at Terrestrial Energy at (202) 815-9234 or jadams@fulloncom.com
