Terrestrial Energy’s business objective is to develop its proprietary Integral Molten Salt Reactor (“IMSR”) in Canada and to be ready for commercial deployment by next decade. The IMSR represents a completely new paradigm for civilian nuclear energy – a paradigm based on cost-competitive, scalable, grid-independent energy that has an entirely new narrative for waste, safety and proliferation resistance. Such possibilities invite an entirely different perspective on civilian nuclear energy. It represents a revolution in civilian energy supply.
Terrestrial Energy’s IMSR is a small modular design, with its three first-of-a-kind models ranging from 29 MWe to 290 MWe – ideally suited for remote communities and industrial operations, and to permit on- and off- grid power and heat provision. These models together capture the broadest set of civilian applications. Canada’s nuclear jurisdiction is principles-based, flexible and technology neutral, ideal for the Company’s IMSR development and licensing program. Terrestrial Energy’s management and board consist of executives from the nuclear, oil-sands, mining and finance sectors.
The market for the IMSR is substantial; any market or industry where reliable and secure cost-competitive heat or power is required at point-of-demand. For example: for traditional large scale on-grid power provision; for remote communities, such as those in the far north of Canada, in desert regions or island nations; at factory gate for ammonia, fertilizer and hydrogen production; at mine-head for mining and milling of metals; for petroleum refining; and for desalination, to name a few.
The IMSR is projected to be as cost-competitive to build as a modern fossil fuel power station, yet have operating and fuel cycle costs less than those of a Conventional Nuclear power station – the best of both worlds. This will establish the IMSR as the most cost-competitive scalable energy source today, an energy source that offers the triple economic benefits of low capital costs, low operating costs and negligibly low fuel price volatility. These commercial benefits cannot be matched by any other energy technology. Furthermore, the IMSR provides a new social paradigm for civilian nuclear energy, one based on passive safety, far lower nuclear waste production and proliferation resistance. Taken all together, Terrestrial Energy’s IMSR is a compelling industrial proposition, and represents a significant advance in civilian energy innovation.
TEI believes it can achieve its mission to build and license its first IMSR by the 2020s