Terrestrial Energy’s IMSR Begins Final Stage of Pre-Licensing Vendor Design Review in Canada
OAKVILLE, ON – October 16, 2018 – Terrestrial Energy has achieved another major milestone in the commercialization of its Integral Molten Salt Reactor (IMSR®) power plant with the announcement today that the IMSR® has entered Phase 2 pre-licensing Vendor Design Review (VDR) with the Canadian Nuclear Safety Commission (CNSC).
Terrestrial Energy completed Phase 1 of VDR in November 2017, successfully meeting CNSC’s requirements for the IMSR® design. On completing Phase 1, Terrestrial Energy become the first to secure a formal regulatory opinion for a commercial Generation IV power plant design from a western nuclear regulator; it is the first to enter Phase 2 of that process.
“We are making consistent progress towards commercial deployment of IMSR® advanced nuclear power plants and are engaged with commercial partners interested in operating,” said Simon Irish, CEO of Terrestrial Energy. “Successful completion of the final phase of design review will be a project green light to start site license applications.”
Mike Rencheck, President and CEO of Bruce Power said: “Small Modular Reactors represent an opportunity for advancing nuclear power generation and providing an economical power choice when compared to other clean energy sources. We continue to pay close attention to market developments, and that includes Terrestrial Energy’s submission of its IMSR® power plant design to Phase 2 of the Vendor Design Review.”
John Barrett, President and CEO of the Canadian Nuclear Association said: ” Small Modular Reactors using innovative technologies are a great new opportunity for the nuclear industry. In the race to develop them, Terrestrial Energy’s next-generation design is leading the way to commercial deployment with its innovative IMSR® design. Completing CNSC’s Phase 2 design review will be a major milestone. I congratulate Terrestrial Energy on this development as it brings SMRs closer to full licensing and deployment in Canada.”
John Luxat, Professor at McMaster University and Terrestrial Energy Advisor said: “The IMSR® has the potential for nuclear safety excellence at much reduced cost, and this is of great commercial interest to the nuclear industry. Successful completion of Vendor Design Review Phase 2 will be the important signal to customers to move forward to deploy the design. I expect that many will be following Terrestrial Energy’s progress closely over the next two years.”
Phase 2 VDR involves a detailed follow-up on Phase 1 VDR activities, and an assessment of the IMSR® power plant design’s ability to meet all 19 focus areas of a power plant’s future license application. This is a critical commercial step that precedes site selection and construction of the first plant. Phase 2 VDR is expected to take two years to complete.
About Terrestrial Energy
Terrestrial Energy is a developer of Generation IV advanced nuclear power plants that use its proprietary Integral Molten Salt Reactor (IMSR®) technology. IMSR® technology represents true innovation in cost reduction, versatility and functionality of nuclear power plants. IMSR® power plants will provide zero-carbon, reliable, dispatchable, cost-competitive electric power and high grade industrial heat for use in many industrial applications, such as chemical synthesis and desalination, and in so doing extend the application of nuclear energy far beyond electric power markets. They have the potential to make important contributions to industrial competitiveness, energy security, and economic growth. Their deployment will support rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum. Using an innovative design, and proven and demonstrated molten salt reactor technology, Terrestrial Energy is engaged with regulators and industrial partners to complete IMSR® engineering and to commission first IMSR® power plants in the late 2020s.
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