Terrestrial Energy Inc.

Terrestrial Energy Inc.

June 19, 2017 09:00 ET

Terrestrial Energy Commences Work to Explore Siting the First Commercial IMSR® Power Plant at Canadian Nuclear Laboratories

OAKVILLE, ONTARIO--(Marketwired - June 19, 2017) - Terrestrial Energy, a vendor of Advanced Reactor power plants, has commenced a feasibility study to explore siting the world's first commercial Integral Molten Salt Reactor (IMSR®) power plant at Canadian Nuclear Laboratories (CNL). The study is being conducted by CNL. A key piece of their vision is to create a technology hub at CNL to support the commercialization of small modular reactors, a potentially transformative technology.

"This is an important milestone for Terrestrial Energy. It maintains our momentum for 2020s deployment of IMSR® power plants," said Simon Irish, CEO of Terrestrial Energy. "We are pleased to be working with CNL to begin the process to identify a suitable location on the CNL site to build the first commercial IMSR® power plant."

"Supporting the research, licensing and siting of Canada's first advanced reactors is an important part of CNL's long-term plan," said Mark Lesinski, President and CEO at CNL. "We are excited to begin these efforts by supporting these studies for Terrestrial Energy's IMSR® commercial power plant."

The work is being carried out in parallel with an industry wide Request For Expression Of Interest (RFEOI) recently launched by CNL. The responses to the RFEOI will inform a roadmap that takes in account the considerations of reactor developers, the supply chain, end users and other stakeholders.

The parties are cooperating under a business framework set out in a 2016 Memorandum of Understanding (MOU) agreed between Terrestrial Energy and CNL. It facilitates a collaborative working relationship to conduct testing and validation activities to support Terrestrial Energy's engineering program for IMSR® deployment. It covers a broad set of CNL's nuclear services including reactor physics, thermal hydraulics, metallurgy, chemistry, waste management and decommissioning. The MOU is non-exclusive; CNL is not restricted from building other nuclear reactor systems at its facilities, and Terrestrial Energy is not restricted from building IMSR® power plants at other locations.

About Terrestrial Energy

Terrestrial Energy is a vendor of an Advanced Reactor power plant that uses its proprietary Integral Molten Salt Reactor (IMSR®) technology. This technology represents true innovation in cost reduction, safety and functionality. It will provide clean, convenient, dispatchable and cost-competitive heat for many industrial applications, including electric power provision and heat for industrial processes, such as chemical synthesis and desalination. IMSR® technology extends the application of nuclear energy far beyond electric power markets. IMSR® power plants promise to transform industrial competitiveness, energy security, and drive economic growth. Their deployment can realize rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum. Using an innovative design based on proven and demonstrated Molten Salt Reactor technology, IMSR® power plants can be brought to market in the 2020s.

About Canadian Nuclear Laboratories

CNL is Canada's premier nuclear science and technology organization. CNL is a world leader in developing peaceful and innovative applications from nuclear technology through its expertise in physics, metallurgy, chemistry, biology and engineering. Highly skilled employees enthusiastically deliver a range of nuclear services - ranging from research and development, design and engineering to specialized technology, waste management and decommissioning. Today, CNL continues its commitment to ensure that Canadians and the world receive energy, health, and environmental benefits from nuclear science and technology with confidence that nuclear safety and security are assured. For more information, please visit www.cnl.ca.

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