OAKVILLE, Ontario, Oct. 06, 2020 (GLOBE NEWSWIRE) — The Terrestrial Energy Integral Molten Salt Reactor (IMSR®) has been selected by Ontario Power Generation for further evaluation under the electric utility’s program to deploy small modular reactor (SMR) power plants. The IMSR is one of three SMR technologies chosen by OPG for further evaluation at the conclusion of recent due diligence in collaboration with other major energy utilities.
“This selection reflects OPG’s already extensive due diligence and the merits of our IMSR Generation IV power plant design. We and our Ontario and Canadian supply chain partners look forward to working closely with OPG on IMSR development and deployment,” said Simon Irish, CEO of Terrestrial Energy. “With world-class capabilities, this nuclear supply chain can play a leading role in the development and deployment of those SMR technologies that unlock the great economic and environmental potential of nuclear energy. We thank OPG and the Government of Ontario for their ongoing commitment to the development of SMR technology in Ontario and the exciting opportunity for our province that it brings.”
“OPG is leveraging more than 50 years of nuclear experience to support the development of carbon-free nuclear technology. Our work with these three developers, along with our partnership with Global First Power and its SMR project to support remote energy needs, demonstrates OPG’s unique position to become a world leader in SMRs,” said Ken Hartwick, OPG President and CEO. “SMRs will play a key role in helping to re-invigorate Ontario’s economy and further support the province and Canada as they work toward meeting their climate change targets of zero-emission electricity.”
An IMSR nuclear power plant is designed to produce 195 megawatts of clean, reliable, and emission-free electricity at a cost competitive with fossil fuel generation. IMSR power plants can also supply high-grade heat across a broad range of industrial processes, including natural resource extraction, hydrogen and synthetic fuel production. Producing cost-competitive electricity and heat for industry without carbon emissions is a critical step toward decarbonizing economies.
Read the full OPG announcement here.
About Terrestrial Energy
Terrestrial Energy is a developer of Generation IV advanced nuclear power plants that use the company’s proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology represents true innovation in cost reduction, versatility, and functionality of nuclear power plants. They can provide safe, clean, reliable and cost-competitive energy for generating on-grid electric power and heat for industrial processes, such as hydrogen production, synthetic fuel production, natural resource extraction, and desalination. With IMSR technology, nuclear energy has many more industrial uses beyond on-grid electric power generation. IMSR technology offers an important pathway to deep decarbonization by displacing fossil fuel combustion across a broad industrial front. Using an innovative design based on proven and demonstrated molten salt reactor technology, the first IMSR power plants are expected to be in commercial operation by the late 2020s.