Our Terrestrial Energy technology review focuses on a next-generation nuclear fission company, founded in 2013, based in Ontario, Canada, has c100 employees and is aiming to build a small modular reactor, more specifically, an Integral Molten Salt Reactor.
Game-changer? A plant with 2 x 442MWth and 2 x 195MWe reactors might use 7 hectares of land, get constructed within 4-years, and for less than $1bn per reactor (long-term target is $2,600/kWe), yielding levelized costs of 5c/kWh (company target, we get to 5-7c/kWh for a 5-10% equity IRR in our own models), a CO2 intensity below 0.005 kg/kWh and multiple ways to back-up renewables.
Our patent review shows one of the strongest patent libraries to cross our screens from a pre-revenue company. 80 patents, filed in 25 geographies, lock up 8 core innovations, and give a clear picture for how the reactor achieves high efficiency, high safety and low complexity.
To read more about our Terrestrial Energy technology review. please see our article here.