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Terrestrial Energy USA and Centrus Energy Partner on Fuel Supply for IMSR Generation IV Nuclear Plants

GREENWICH, CT and BETHESDA, MD – October 13, 2020 – Terrestrial Energy USA and Centrus Energy Corp. have signed a memorandum of understanding to secure fuel supply for a future fleet of Integral Molten Salt Reactor (IMSR®) power plants. The two companies will evaluate the logistical, regulatory, and transportation requirements to establish fuel supply for Integral Molten Salt Reactor (IMSR®) power plants, which use standard-assay low-enriched uranium (LEU).

Standard-assay LEU has an enrichment level less than 5 percent uranium-235 and is the current industry standard for today’s commercial nuclear plants in the United States and worldwide. While employing Generation IV technology, IMSR® power plants are designed to use standard-assay LEU fuel, and this provides important advantages for rapid commercial deployment.

Centrus Energy is a supplier of nuclear fuel and services to the nuclear power industry. In addition to uranium enrichment and standard-assay LEU supply, Centrus Energy has expertise in the design and licensing of packaging for nuclear fuel transportation. As part of a program to establish a supply chain for IMSR® fuel, the companies will study the regulatory requirements for transportation from the fuel fabrication facility to the plant. They will also evaluate packaging options for fuel shipment.

“Terrestrial Energy’s Integral Molten Salt Reactor technology can play a critical role in bringing affordable, reliable, carbon-free next-generation nuclear power to market, and we look forward to helping make that happen,” said Daniel B. Poneman, President and CEO of Centrus. “As a trusted fuel supplier to utility customers in the United States and around the world, and a partner to the advanced reactor industry, Centrus is uniquely positioned to assist Terrestrial Energy in establishing an assured fuel supply chain for its innovative reactor design.”

“Centrus Energy has global experience in fuel supply and transportation, and provides these important services for the safe and reliable operation of today’s nuclear power plants,” said Terrestrial Energy’s CEO, Simon Irish. “We are looking forward to working with Centrus on the deployment of our Generation IV nuclear plants and the realization of their potential to deliver resilient, clean, cost-competitive electric power and industrial heat.”

An IMSR® power plant generates 195 MW of carbon-free electricity with Generation IV technology, and it does so at high temperature and with high thermal efficiency. IMSR® power plants can also supply this high-grade heat directly for a broad range of industrial processes, including hydrogen and synthetic fuel production. Providing an emissions-free alternative for these applications can play an important role in the deep decarbonization of primary energy supply.

The IMSR® is based on proven and demonstrated molten salt technology. Its market-focused design drives competitive economics and timely deployment, which includes the decision to use standard-assay LEU for IMSR® operation.

 

About Terrestrial Energy USA

Terrestrial Energy USA, an affiliate of Terrestrial Energy Inc., is developing the Integral Molten Salt Reactor (IMSR®)

for U.S. market deployment. The IMSR® is a Generation IV reactor technology that represents true innovation in cost and functionality. It will provide safe, clean, reliable and cost-competitive heat for many industrial applications, including electric power provision and heat for industrial processes, such as chemical synthesis and desalination. The IMSR® extends the applicability of nuclear energy beyond its current footprint in on-grid electric power markets. It offers a promising pathway to deep decarbonization by displacing fossil fuel combustion across a broad industrial front. Using an innovative design based on proven Molten Salt Reactor technology, IMSR® power plants can be in commercial operation in the late 2020s.

About Centrus Energy

Centrus is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal.

With world-class technical capabilities, Centrus offers turnkey engineering and advanced manufacturing solutions to its customers. The Company is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

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Learn More About Terrestrial Energy

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®).