TERRESTRIAL ENERGY SIGNS AGREEMENT TO ADVANCE IMSR DEPLOYMENT IN WESTERN CANADA
Source: | · TERRESTRIAL ENERGY· | August 11, 2022
CALGARY, Alberta, Canada – August 11, 2022 – Terrestrial Energy, an industry-leading nuclear technology company, and Invest Alberta, the Government of Alberta’s crown corporation promoting high-value investments, have signed a Memorandum of Understanding (MOU) to support commercialisation of Terrestrial Energy’s Integral Molten Salt Reactor (IMSR®) Generation IV small modular reactor (SMR) plant in Western Canada.
Terrestrial Energy’s IMSR® plant has unique potential to supply the heat and power (cogeneration) needs of many industrial activities, including those in the Alberta oil and gas, and petrochemical sectors. The Company looks forward to expanding its Alberta operations in partnership with industry, academic institutions, Indigenous communities, Invest Alberta and the Government of Alberta, which has been an ongoing supporter of SMR technology and development. Terrestrial Energy anticipates supporting high-quality jobs as it expands its activities in western Canada. Terrestrial Energy has previously invested over $100 million in its Ontario operation, where it employs more than 100 personnel.
Under the terms of the Terrestrial Energy MOU, Invest Alberta will work with Terrestrial Energy on federal and provincial policies, and industrial incentives supporting transformative energy innovation in the province. Alberta is one of four provinces working to advance SMR technologies through an interprovincial memorandum of understanding.
Terrestrial Energy’s IMSR® plant is designed for industrial cogeneration as well as high-efficiency, grid-based power generation. The IMSR® plant uses Generation IV molten salt reactor technology in an innovative plant design for cost-competitive, high-temperature thermal energy with zero greenhouse gas emissions. It is ideally suited for natural resource extraction, low-carbon hydrogen and ammonia production, as well as many other energy-intensive industrial activities.