Terrestrial Energy USA Moves Forward in Nuclear Loan Guarantee Application

Terrestrial Energy logo

The U.S. Department of Energy’s Loan Programs Office (LPO) invited Terrestrial Energy USA to submit Part II of its loan guarantee application.

Terrestrial Energy is applying for a loan guarantee between $800 million and $1.2 billion to support financing of a project to license, construct and commission a 190-MW Integral Molten Salt Reactor (IMSR). The IMSR’s modular design for factory fabrication reduces project scope and financing.

The company has identified a number of potential sites for the first commercial IMSR plant deployment, including the Idaho National Laboratory. Terrestrial Energy has secured C$22.5 million ($17.2 million) of financing since its inception, of which C$5.3 million ($4 million) was raised in August 2016. Duke Energy (NYSE: DUK) recently joined the company’s corporate industrial advisory board.

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