Transatomic Power is here to transform the nuclear industry as we previously have reported here. The core technology approach can eventually be used with Thorium, and they do support the use of Thorium in general.
Safe Nuclear Power, at Half the Price
Now we get a closer look at the start-up company in the Technology Review article called “Safer Nuclear Power, at Half the Price”.
Transatomic Power says “The new reactor is expected to save money not only because it can be built in a factory rather than on site but also because it adds safety features—which could reduce the amount of steel and concrete needed to guard against accidents—and because it runs at atmospheric pressure rather than the high pressures required in conventional reactors.”As a first step the company has raised $1 million in seed funding, including some from Ray Rothrock, a partner at the VC firm Venrock. He says “The technology doesn’t bother me in the least, I have confidence in the people. I wish someone would build this thing, because I think it would work. It’s all the other factors that make it daunting.”
This is where the NRC enters the picture. They will have to establish new regulations for this new type of reactors.
NRC spokesman Scott Burnell says that the commission is aware of Transatomic’s concept but that designs haven’t been submitted for review yet. He says the certification process for Transatomic will take at least five years once the company submits a detailed design, with additional review needed specifically for issues related to fuel and waste management.
Russ Wilcox, Transatomic’s CEO and the former CEO of E Ink, estimates that it will take eight years to build a prototype reactor—at a cost of $200 million. He says that’s less time than it took investors to get a return on E Ink, which was acquired for $450 million 13 years after the first investments in the company.
Safer Nuclear Power, at Half the Price, Technology Review
Monster Machines: The Future Of Nuclear Power, Gizmodo
The 500MW molten salt nuclear reactor: Safe, half the price of light water, and shipped to order, ExtremeTech