Wilmington, Delaware (Monday, August 9, 2021) – Moltex Energy is pleased to announce it has joined the Nuclear Energy Institute (NEI), the largest and most prominent trade association for the nuclear industry in the United States.
“We are delighted to have Moltex join NEI at this important time for the US nuclear industry,” said Maria Korsnick, President and Chief Executive Officer, Nuclear Energy Institute. “Small modular reactors, such as the one Moltex is developing, will be critical for supporting the future US electric grid with carbon-free energy, and boosting the economy with long-term, well-paying jobs.”
Moltex is developing a Stable Salt Reactor – Wasteburner (SSR-W) that runs on recycled nuclear waste, as well as a WAste To Stable Salt (WATSS) nuclear waste recycling facility. In the US, by the time the current fleet of nuclear reactors reach end of life, there will be enough nuclear waste to power approximately 20 GW of SSR-W units.
“Our technology is very well-suited to the US market, given their significant and growing stockpiles of nuclear waste,” said Rory O’Sullivan, Chief Executive Officer, North America, Moltex Energy. “With our technology, we can turn nuclear waste that would otherwise be destined for expensive, long-term storage into more clean energy.”
Considerable research and development is already ongoing in the US. With a combined $7M USD in funding from the US Department of Energy Advanced Research Projects Agency-Energy (ARPA-E), Moltex is working on validation experiments with Argonne National Laboratory, Oak Ridge National Laboratory, Electric Power Research Institute, Purdue University and Vanderbilt University.
Moltex also recently received $50.5M CAD from the Government of Canada to progress the development of its technology.
Moltex is building its first-of-a-kind SSR-W and WATSS facility in New Brunswick, Canada. In 2018, it was selected by NB Power and the Government of New Brunswick to develop its technology in the region, with the goal of commercial operation next to the Point Lepreau Nuclear Generating Station.
Other notable markets for Moltex include France, which will have enough nuclear waste to power 9 GW of SSR-W units, Japan (8 GW), South Korea (5 GW) and the UK (5 GW).
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Moltex is a privately held company striving to solve the world’s most critical challenge: providing sufficient clean, reliable and affordable energy. In collaboration with innovators and energy experts, the company is developing a small modular reactor that will help keep fossil fuels in the ground. Moltex was selected by NB Power and the Government of New Brunswick to progress development of its reactor technology in New Brunswick, Canada, with the aim of deploying its first reactor next to the Point Lepreau Nuclear Generating Station.