Terrestrial Energy Inc.

Terrestrial Energy Inc.

December 10, 2014 09:00 ET

Terrestrial Energy Announces Letter of Intent with Canadian Nuclear Laboratories

MISSISSAUGA, ONTARIO--(Marketwired - Dec. 10, 2014) - Terrestrial Energy Inc. ("TEI" or the "Company") announces that it has entered into a Letter of Intent for services with Canadian Nuclear Laboratories, based in Ontario, Canada. This arrangement includes research and development work that is required to bring the company's Integral Molten Salt Reactor (IMSR) to the engineering blueprint stage, expected in late 2016.

Canadian Nuclear Laboratories

The Company and the Canadian Nuclear Laboratories (CNL) have entered into a Letter of Intent. The subject of the Letter of Intent is for the provision of R&D services on commercial terms to Terrestrial Energy by CNL on various areas of research and development for the Company's IMSR. CNL's Chalk River Laboratories is the home of one of the world's most versatile research reactors, the National Research Universal (NRU) reactor and many other unique R&D facilities.

Employing over 3,400 highly-trained employees, researchers and engineers, it has been at the forefront of innovation since its creation over 60-years ago. It was here that Canada developed the CANDU heavy water power reactors in the 1950s, and the first operating reactor outside of the USA. Today, there are 48 heavy water power reactors operating around the world in various design configurations.

Today, Canadian Nuclear Laboratories is a world leader in nuclear science and technology offering unique capabilities and solutions across a wide range of industries. Actively involved with industry-driven research and development in nuclear, transportation, clean technology, energy, defence, security and life sciences, the organization provides solutions to keep these sectors competitive internationally.

Simon Irish, CEO of Terrestrial Energy, made this comment about the development: "Canadian Nuclear Laboratories is Canada's premier nuclear science and technology organization and has a rich history at the cutting edge of nuclear science and technology internationally. Terrestrial Energy's Integral Molten Salt Reactor development can benefit greatly from CNL's deep expertise. As Terrestrial Energy commences the next phase of IMSR development, this Letter of Intent expresses the Company's intent to engage contractually with the world's top nuclear laboratories."

About Terrestrial Energy Inc

Terrestrial Energy Inc. ("TEI") has the objective of beginning commercial deployment of its proprietary Molten Salt Reactor technology by early next decade. Molten Salt Reactor technology represents a revolution in nuclear safety, waste and proliferation resistance, and in energy cost-competitiveness. TEI's Integral Molten Salt Reactor (IMSR) is a small modular design, with models ranging from 80 MWth to 600 MWth - ideally suited for remote communities and industrial operations, including on- and off-grid power provision. Canada provides a favorable jurisdiction for the company's Molten Salt Reactor development, licensing and marketing. TEI's board consists of executives from the nuclear, natural resources and finance sectors.

Small Modular Reactor
Molten Salt Reactor
Dr. David LeBlanc