Nuclear technology company Terrestrial Energy has announced today it has raised CAD$10m (£4.8m) to bring its next-generation nuclear reactor to industrial markets in the next decade.
The reactor is based on the Canadian firm's Integral Molten Salt Reactor (IMSR) technology, which uses a molten fluoride or chloride salt for fuel. The liquid fuel can be used for producing heat and also act as a coolant - a factor the firm claims significantly improves the safety profile of nuclear energy.
In a statement Terrestrial Energy said the technology will offer reliable power for both on- and off-grid electricity production as well as energy for industrial process heat generation.
The firm added that the technology's energy and heat capabilities could open up new applications for nuclear energy. “With this profile, the IMSR is capable of driving the rapid global decarbonisation of the primary energy system by displacing fossil fuel combustion across a broad front.”
Terrestrial Energy is currently developing a commercial demonstration power plant of the technology in Canada, and the firm will use the money raised to support preliminary engineering and licensing work.
James Reinsch, former president of Bechtel Nuclear and a shareholder in the firm, said the market need for “game-changing energy innovation” will drive a "ground-swell of support" for advanced nuclear technology such as the IMSR.
from Home - business_green http://ift.tt/1mHJB38
Advertisement
Sourced by "Home Hacks". Scouring and supporting the art of DIY home projects by sharing links and information provided by numerous active reputable DIY veterans and company's. Any projects you start please be of proper age, follow all required safety measures, and use the required protective equipment when handling any chemicals, power tools, or during any construction project. If you need advice regarding your next project we suggest visiting Contractor Talk.
