Moltex Energy’s stable salt reactor that burns existing nuclear waste selected to receive funding through US DOE
Saint John, New Brunswick (Thursday, May 14, 2020) – Moltex Energy is pleased to have been selected to receive $4.5 million to advance its Stable Salt Reactor – Wasteburner (SSR-W) technology. The funds are being awarded by the Advanced Research Projects Agency-Energy (ARPA-E), an agency within the United States Department of Energy (US DOE).
“We are grateful to the US DOE for recognizing the potential benefits of this unique and innovative technology,” said Rory O’Sullivan, CEO for North America, Moltex Energy. “Moltex Energy’s SSR-W burns existing nuclear waste safely and cost-effectively, reducing waste stockpiles while generating clean grid-scale electricity.”
Nuclear waste in the US represents 25% of global stockpiles. The SSR-W can help significantly reduce waste, clean US grids and boost the national economy.
The SSR-W also offers thermal energy storage from renewables, collecting and storing the energy produced by renewables such as wind and solar during peak generation, and feeding it back into the grid when electricity demand goes up.
Moltex Energy applied for the funds through Generating Electricity Managed by Intelligent Nuclear Assets (GEMINA), an ARPA-E program focused on making a transformational change to current advanced reactor designs.
This is the second round of funding Moltex Energy has been selected for by ARPA-E. The first was announced in July 2019 when the company received $2.55 million to commercialize and scale up its SSR-W.
“These investments enable us to leverage US nuclear expertise, which is among the best in the world,” added O’Sullivan. “The technological advancements we make in the US will be applied to the reactor we are building in New Brunswick.”
Nearly two years ago, Moltex Energy was selected by New Brunswick Energy Solutions Corporation and New Brunswick Power to develop its SSR-W technology in New Brunswick, with the aim of deploying the first SSR-W at the Point Lepreau nuclear reactor site before 2030.
“Our continued collaboration with Canadian, US and UK governments and private and public organizations will help us achieve our long-term goal of global decarbonization” concluded O’Sullivan.
Director of Communications
Moltex Energy is a privately held company striving to solve the world’s most critical challenge, providing safe, clean and affordable energy. The company has headquarters in the United Kingdom and New Brunswick and collaborates with other innovators and nuclear energy experts worldwide. The mission is to cost-effectively produce carbon-free electricity so that fossil fuels can stay in the ground.
Moltex Energy is one of two companies that NB Power has selected to explore building Small Modular Reactors (SMRs) in New Brunswick. Moltex has developed a first-of-its-kind technology to build a better nuclear reactor that will safely, cleanly and economically solve global energy issues and power the planet in the 21st century. The workforce, along with the existing nuclear generating station and a supportive government, make New Brunswick an ideal location to build this technology.