Terrestrial Energy USA Advances Loan Guarantee with the US Department of Energy
NEW YORK, NY – February 28, 2017 – Terrestrial Energy USA announces that the Department of Energy’s (USDOE) Loan Program Office has finished its initial completeness review of Terrestrial Energy USA’s Part II application submitted under the Federal Loan Guarantees for Advanced Nuclear Energy Projects Solicitation No. DE-SOL-0007791, and Terrestrial Energy USA is now proceeding to ongoing due diligence with the Loan Program Office.
Terrestrial Energy USA applied for a loan guarantee under the USDOE program established under Title XVII of the Energy Policy Act of 2005, as amended, to support the financing of projects located in the United States that employ innovative advanced energy technologies, and create skilled American industrial jobs. Terrestrial Energy USA’s application for a loan guarantee of up to $1.2 billion is to support the financing of a project to license, construct and commission the first Integral Molten Salt Reactor (IMSR®™) in the United States. The Idaho National Laboratory has been identified as a leading candidate site for the first 400 megawatts-thermal commercial IMSR®™. Several other candidate sites have been identified and are under evaluation.
Stephen Kuczynski, Chairman, and Chief Executive Officer of Southern Nuclear made these comments: “The IMSR®™ is an Advanced Reactor, one capable of rapid dispatch for heat and power provision. Advanced Reactors are vital to upgrading US industrial competitiveness, and for renewing its position as global leader in civilian nuclear power technology. Southern Nuclear is proud to be involved in TEUSA’s IMSR®™ power plant project.”
Terrestrial Energy USA has assembled a strong consortium of prospective industrial partners for the IMSR®™ power plant project. These partners include electric utility companies, nuclear power plant architects and engineering firms, members of the nuclear power plant and nuclear fuel supply chains, USDOE nuclear laboratories and others.