Oakville-based headquarters continues its expansion with additional Ontario-based hires
Oakville, ON – August 24, 2021 – Terrestrial Energy Inc. today announced its 100th hire at its Oakville, Ontario headquarters where the company is developing its proprietary Integral Molten Salt Reactor (IMSR), a Small Modular Reactor (SMR) power plant design that uses next-generation Generation IV reactor technology. The company’s Oakville operations are complemented by many more engineers supplied by local engineering firms, as well as other companies in the Canadian supply chain that are now contributing to IMSR development. Terrestrial Energy is actively recruiting for 27 positions and anticipates adding 80 more engineers and scientists to its Oakville operation over the next 12 months.
“Terrestrial Energy represents world-leading technology that can make a major contribution to averting climate change globally,” said Simon Irish, CEO of Terrestrial Energy. “The development of this technology in Oakville is a source of great pride for our community, and our local economy is benefitting tremendously from the significant investments being made by Terrestrial Energy. We are proud to add more Ontario-based professionals as we continue expanding.”
The company’s latest employee, a safety analyst with a PhD in nuclear engineering from McMaster University, joins an Ontario-based team helping create an exciting new industry. Terrestrial Energy is hiring talented and high-performing individuals with diverse backgrounds reflecting today’s modern Canadian workforce who are passionate about advancing the company’s engineering, regulatory, component-testing and procurement programs.
These include testing activities at Canadian Nuclear Laboratories at Chalk River, Stern Laboratories in Hamilton and McMaster University, along with engineering programs to support Terrestrial Energy’s submissions to the Canadian Nuclear Safety Commission (CNSC) for Phase 2 of CNSC’s Vendor Design Review of the IMSR. Leading firms in the Canadian nuclear supply chain, including L3Harris, Aecon, Hatch, BWXT and others, are assisting the company with this effort.
The Terrestrial Energy IMSR is one of three SMRs being considered for deployment at Ontario Power Generation’s Darlington Nuclear Generating Station, and it is the only Canadian technology candidate. Terrestrial Energy’s Oakville operation represents the largest SMR power plant development in Canada. The company’s IMSR incorporates the latest in nuclear technology to provide cleaner, safer, more reliable and cost effective energy.
“We congratulate Terrestrial Energy on achieving this milestone,” said Rob Burton, Mayor of Oakville. “Oakville is home to many members of Canada’s nuclear community, including Promation Nuclear and BWXT Laker, and we are delighted to have Terrestrial Energy as one of our important corporate citizens.”
Since early 2016, when it became the first Generation IV reactor developer to submit a SMR power plant design for Phase 1, Terrestrial Energy has been committed to CNSC’s Vendor Design Review process. It completed Phase 1 in 2017 and expects to complete Phase 2 by the start of 2022. Since late 2019, the company has been further engaged with the CNSC, as well as the U.S. Nuclear Regulatory Commission (NRC), as the two regulatory agencies collaborate to develop licensing efficiencies to support the review of Generation IV nuclear power plants.
Terrestrial Energy uses Generation IV reactor technology to achieve a 50 per cent increase in thermal efficiency of power plant operation and electric power generation over conventional nuclear technologies, which are those that use water as a coolant. By extension, IMSR Generation IV technology offers a 50 per cent improvement in the cost competitiveness of nuclear power. This step-change in thermal efficiency equally reduces waste and spent-fuel footprints. When combined with design objectives focused on meeting market needs in a compelling timeframe, Terrestrial Energy has created a nuclear power plant with transformative commercial characteristics that cannot be matched by SMR power plant designs that use conventional nuclear technologies.
The IMSR power plant’s use of previously demonstrated molten salt Generation IV technology and nuclear fuel at standard enrichment – the only Generation IV SMR power plant designed to do this today – removes design hurdles and hastens the power plant’s potential for near-term deployment. The company announced an agreement on August 17 with Westinghouse and the UK’s National Nuclear Laboratory to provide the IMSR’s nuclear fuel supply, the first Generation IV SMR to do so.
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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