Viaro Energy and Terrestrial Energy partner to develop IMSR nuclear project in the UK
British energy company Viaro Energy and US-based Terrestrial Energy have signed a memorandum of understanding to develop the Integral Molten Salt Reactor (IMSR) nuclear project in the UK. The partnership aims to deliver reliable, emission-free, and cost-competitive nuclear energy using advanced reactor technology.
Terrestrial Energy CEO Simon Irish emphasized that both companies share a vision for expanding nuclear energy to achieve energy security and net zero goals. They aim to deploy small and modular power plants using advanced Generation IV technologies like the IMSR, which are well-suited for such expansion. The companies will explore using IMSR technology for various industrial applications, including powering AI data centres.
The collaboration will involve evaluating factors such as siting, regulatory compliance, macroeconomic conditions, and policy environment to determine the project’s viability. They will also assess potential sites for the IMSR plant, with the intention of forming a joint venture for the project’s delivery. Viaro Energy will provide infrastructure and investment, while Terrestrial Energy will manage the nuclear system’s development and procurement.
The project timeline depends on external factors, with a final investment decision expected by 2030. Once operational, the IMSR plant is projected to create over 120 jobs, along with additional employment opportunities during construction and within the supply chain. The IMSR technology will use standard assay low-enriched uranium, enriched to below 5% uranium-235, a fuel type already accepted for civilian reactors, facilitating early deployment in the US, Europe, and other markets.
Viaro Energy CEO Francesco Mazzagatti stated that after a year of evaluating different nuclear technologies, Terrestrial Energy’s IMSR was found to be among the most competitive. He highlighted Terrestrial Energy’s success in overcoming production and supply chain challenges, particularly in securing fuel supply, which enhances their credibility in the sector.