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GreenTech Media: Nuclear Firm’s $17 Million Bid on a New Reactor Design

From GreenTech Media:

A company touting a new nuclear reactor design landed CAD$5.3 million ($4 million) last month to complete the first phase of its vendor design review.

The Series A funding achieved by Canadian firm Terrestrial Energy, from unnamed investors, added to a March grant of CAD$5.7 million ($4.4 million) from the Canadian government to bring the company’s total fundraising to CAD$22.5 million ($17.2 million) so far.

Terrestrial Energy is looking to use the money to commercialize an Integrated Molten Salt Reactor (IMSR®) design based on Manhattan Project-related research carried out in the 1960s at the Oak Ridge National Laboratory, Tennessee.

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Terrestrial Energy is an industry-leading technology company committed to delivering reliable, emission-free, and cost-competitive nuclear energy with a truly innovative advanced reactor design, the Integral Molten Salt Reactor (IMSR®).