- The global market for energy is $7 Trillion per year, 10% of Gross World Product
- The IMSR is projected to be ready for commercial deployment by next decade
- The nuclear regulatory environment in Canada offers a credible path for Gen-IV nuclear innovation
- The IMSR has the potential to displace fossil fuel use in power generation and industrial heat production within a generation
Electricity The provision of energy to the global economy is the largest single industrial activity. Energy is all-pervasive in the modern world and remains a fundamental enabler of social progress as it has done throughout history: today communities without electricity remain profoundly disadvantaged, and energy security remains a top national security priority.
Global energy demand is projected to grow by over 33% from 2012 to 2030.
This growth will be driven primarily by population and economic growth, and modernization outside the OECD countries. It is clear that the BRIC countries will be the dominant sources of growth, but a broad array of emerging economies, from Asia to Africa and South America, will also contribute. Energy demand will inexorably grow as living standards increase and electricity use expands.
There is growing market need for a cost-competitive, scalable, secure, reliable and grid-independent energy innovation. As the payoff from meeting this market need is enormous and grows each year, so does the incentive to innovate.
The search continues for solutions that promise to “change the game”.
Thousands of individual power generating stations must be built in the next few decades. Capturing only a small share of this massive infrastructure investment will yield many billions of dollars in annual revenues and profits.
Conventional nuclear has challenges in public safety acceptance, capital cost, construction risk and waste disposal that have severely constrained its growth and share of market. All current energy sources have negative externalities and/or high costs with future fuel price volatility risks associated with them. These shortcomings of the current state-of-the-art create a strong market need for fresh approaches that deliver energy innovation on a substantial scale.
Industrial Heat Transportation, electricity generation, residential heating and industrial process heat are the four primary uses of energy today. Currently, nuclear power participates only in electricity generation. The nature of the technology – its size and heat output – constrain nuclear from participating in other uses of energy. The IMSR does not have these constraints.
The market opportunity created by the IMSR’s ability to access the global industrial heat market is worth $1 Trillion a year in revenues.
The IMSR generates high quality process heat, which can be used in many industrial processes.
For the first time, the IMSR represents an opportunity for power to be freed from the many limitations of conventional nuclear and fossil fuel energy production. The IMSR is designed to be small, scalable and ideal for off-grid applications. It will be the first time that power and energy can be supplied in scale and directly at point of demand, whether island nation, remote community, mine head, factory gate or desalination plant, to name a few. The IMSR has a compelling industrial value proposition that is relevant to a substantial portion of the global energy market; much of this is beyond the reach of Conventional Nuclear.
The IMSR is the game changing energy technology that offers highly cost-competitive, scalable, secure, reliable and grid-independent energy for power and industrial heat use.
The energy market is immense – energy innovation yields substantial reward.