Nuclear Energy Insider: Terrestrial CEO: Plant costs of $40-$50/MWh set to displace fossil fuels

Terrestrial Energy sees industrial heat and power as a major untapped market for SMR plants and expects its Integrated Molten Salt Reactor to be competitive with fossil fuel alternatives, Simon Irish, the company’s CEO, said in an interview.

Ontario-based Terrestrial Energy announced February 25 it is submitting its Integral Molten Salt Reactor (IMSR®) design to the Canadian Nuclear Safety Commission (CNSC) for pre-licensing Phase I Vendor Design Review.

The company becomes the first advanced reactor developer to enter the CNSC’s review process, which verifies, at a high level, the acceptability of a nuclear power plant design with respect to Canadian nuclear regulatory requirements, as well as Canadian codes and standards.