GREENWICH, Conn. and
BETHESDA, Md., Oct. 13, 2020
/PRNewswire/ -- 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.
Forward Looking Statements:
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934 –
that is, statements related to future events. In this context,
forward-looking statements may address our expected future business
and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. For Centrus Energy
Corp., particular risks and uncertainties that could cause our
actual future results to differ materially from those expressed in
our forward-looking statements include: risk regarding our ability
to reach agreement for the sale of nuclear fuel or services; risks
regarding the logistics, regulatory and transportation
requirements; risks associated with our reliance on third-party
suppliers to provide essential products and services to us; the
impact of government regulation including by DOE and the U.S.
Nuclear Regulatory Commission; uncertainty regarding our ability to
commercially deploy competitive enrichment technology; risks that
we will be unable to achieve market acceptance of our products and
services or that products or services provided by others will
render our goods or services obsolete or noncompetitive; the
competitive environment for our products and services; changes in
the nuclear energy industry; and other risks and uncertainties
discussed in this and our other filings with the Securities and
Exchange Commission, including under Part 1. Item1A – "Risk
Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2019 and quarterly
reports on Form 10-Q.
Contact:
Terrestrial Energy USA
Jarret Adams
Phone: (202) 815-9234
Email:
jadams@fulloncom.com
Website:
www.terrestrialusa.com
E-mail: info@terrestrialusa.com
Centrus Energy Corp
Media — Lindsey Geisler (301)
564-3392 or GeislerLR@centrusenergy.com
Investors — Dan Leistikow (301)
564-3399 or LeistikowD@centrusenergy.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/terrestrial-energy-usa-and-centrus-energy-partner-on-fuel-supply-for-imsr-generation-iv-nuclear-plants-301150919.html
SOURCE Centrus Energy Corp.