MISSISSAUGA, ON – June 12, 2014 – Terrestrial Energy Inc. (“TEI” or the “Company”) announces the appointment of David Hill, PhD, to its board of directors. Dr. Hill is a physicist and a MBA who has had a long career in nuclear laboratory management in the USA spanning nearly three decades. Dr. Hill provides a highly qualified and independent technical resource to TEI board.
David Hill has been in senior executive management positions in the foremost national nuclear laboratories in the USA from 1984 to 2012, including Argonne National Laboratories (ANL), Oak Ridge National Laboratories (ORNL) and Idaho National Laboratories (INL). Dr. Hill was also Executive Vice President of Battelle Energy Alliance during his tenure at INL. Most recently, Dr. Hill has been an independent contractor, offering his consulting services to major nuclear concerns, including Babcock & Wilcox, the largest provider of engineering, procurement and construction services to the nuclear power industry.
Throughout his career, Dr. Hill has gained experience in all aspects of nuclear energy, domestically and internationally, with a special emphasis on safety, severe accidents, fuel cycle issues and proliferation. He has managed major projects including the experimental fast reactor at INL, and the restructuring of ANL. He has at all times, been responsible for hundreds of staff, and hundreds of millions of dollars in annual budgetary research and development expenditures. He has been integrally involved in the negotiation of international nuclear research and development agreements. Dr. Hill received his bachelor of science (first class) and his PhD in mathematical physics from the Imperial College, London University. He further received his Masters of Business Administrations from the University of Chicago Graduate School of Business.
The appointment of Dr. Hill brings the number of board members on TEI’s board to five. This number consists of two scientific personnel – one of which is independent – and three business personnel – one of which is independent. Hence, TEI’s board now has two independent members, and an even mix of both business and technical competencies. This appointment was an essential step in the development of TEI’s corporate governance.
Hugh MacDiarmid, Chairman of the Board commented on Dr. Hill’s appointment: “Dr. Hill brings tremendous gravitas to the Integral Molten Salt Reactor project. His deep knowledge of nuclear lab management and his exceptional network of elite international nuclear personnel opens the doors wide indeed for TEI to access the highest echelons of the international nuclear community. This appointment is a continuation of TEI’s program of building credibility and corporate governance structures that will be equal to meeting the challenges inherent in our ambitious plan.”
About Terrestrial Energy Inc.
Terrestrial Energy Inc. (“TEI”) has the objective of commercializing its proprietary Molten Salt Reactor technology in Canada during the 2020s. 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 29 MWe to 290 MWe – 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, oil-sands, mining and finance sectors.
Contact North America: Investor Relations, Terrestrial Energy Inc.
Phone: (905) 361-2864
Fax: (905) 361-6401
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