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« Whoever Does Not Respect the Penny is Not Worthy of the Dollar | Main | These Important Stocks are Trading Like a Financial Crisis Has Begun »
Monday
Feb222016

Canadian startups bet on reimagined nuclear power to replace fossil fuels

"Clean energy on a massive scale" may be better suited to meet global energy needs than other renewables.

CALGARY — As the race to replace fossil fuels heats up, a few Canadian startups are betting on the nuclear option.

"We need a game-changing energy innovation," Simon Irish, chief executive of Oakville, Ont.,-based Terrestrial Energy, said in a recent interview.

Renewable power like wind and solar aren't able to meet the world's growing energy demands, Irish says, so people have to rethink nuclear energy.

"This is clean energy on a massive scale," he said.

Irish's company plans to develop a nuclear reactor in Canada in the next decade using molten salt rather than the solid nuclear fuel and highly pressurized water of conventional designs like the Candu reactor.


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