Terrestrial Energy Signs MOU With First Nations Power Authority

OAKVILLE, Ontario, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Terrestrial Energy, a developer of Generation IV Small Modular Reactor (SMR) power plants based in Oakville, Ontario, today announced a Memorandum of Understanding (MOU) with Saskatoon-based First Nations Power Authority (FNPA), the only North-American, non-profit, Indigenous owned and controlled organization developing power projects with Indigenous communities. Terrestrial Energy has become a member of the FNPA, and will explore the development of SMR technologies with the organization for the benefit of Indigenous communities in Canada.

“Terrestrial Energy’s SMR power plant can bring reliable, sustainable, economic, safe and clean energy to all Canadians and the rest of the world,” said Guy Lonechild, CEO of First Nations Power Authority. “It presents a tremendous opportunity for Indigenous communities across Canada, and for all Canadians. I look forward to working closely with Terrestrial Energy as it engages with our members in the Indigenous community.”

“The Canadian nuclear energy industry recognizes the importance of early engagement with all the communities involved in the long life-cycle operations of a nuclear power plant, and that is particularly true for Canada’s many Indigenous communities,” said Simon Irish, CEO of Terrestrial Energy. “The FNPA will advise Terrestrial Energy and its Canadian operations as it engages and consults with these communities on the ecological, environmental, and economic value of Integral Molten Salt Reactor (IMSR) power plant deployment, and we value the FNPA’s involvement.”

On September 14, Terrestrial Energy announced an upgraded IMSR nuclear power plant design – the IMSR400 – a facility with a capacity to generate nearly 400 MW of clean zero-emissions electricity from twin reactors. This upgrade, in response to utility requirements, further increases the cost-competitiveness of the IMSR400 as a clean, safe and reliable source of energy.

Terrestrial Energy’s IMSR400 is one of three SMR power plant designs under consideration for deployment at Ontario Power Generation’s Darlington Nuclear Generating Station. It is one of two Generation IV technology candidates, and the only Canadian technology candidate. Terrestrial Energy’s Oakville operation represents the largest SMR power plant technology development project in Canada.

About Terrestrial Energy

Terrestrial Energy is a developer of small and modular nuclear power plants that use its proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology is non-Light Water Reactor and Generation IV technology and will generate electricity 50% more efficiently than conventional nuclear reactor technology. The IMSR represents a step-change improvement in economics, versatility and functionality of nuclear power plants that is possible only through 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 is engaged with regulators and industrial partners to complete IMSR engineering and to commission first IMSR power plants in the late 2020s.