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« Uranium One Announces Record Revenue of $530 Million and Total Cash Costs of $14 per Pound for 2011 | Main | Natgas Down, Opportunity Up »
Monday
Mar052012

Hyperion Power Generation Inc. Plans to Deploy an Advanced Hyperion Reactor at the DOE Savannah River Site

 

 

DOE Savannah River Site agreement establishes the next steps toward deployment

DENVER, CO March 5, 2012 - Hyperion Power Generation Inc. (HPG), the Department of Energy - Savannah River (DOE-SR), and Savannah River National Laboratory (SRNL) have announced their commitment to deploy a privately-funded first-of-a-kind Hyperion reactor at the DOE Savannah River Site. 

"This is an important value-creating event for the company," said Hyperion Power Generation's CEO, Bob Prince, "Securing a first site is a key contributor toward our continued forward progress." Prince also stated "The Savannah River Site and the Southeast region have the skilled workforce and an optimal site to support the next generation of advanced nuclear power technology."

"We have a unique combination of nuclear knowledge and laboratory expertise, infrastructure, location and much more to make the Site a natural fit for advancing the small modular reactor technology," said Dr. Dave Moody, DOE-SR Manager. "I am extremely pleased to announce this exciting and promising new initiative for Savannah River Site."

The recent DOE announcement of the partnership is based on an executed Memorandum of Agreement between the parties that establishes next steps towards deployment. These steps include working toward target dates for Land Use, Site Services, and Technical Assistance agreements, with licensing to be accomplished under the authority of the US Nuclear Regulatory Commission (NRC).

"It is important that we achieve NRC licensing to provide worldwide confidence in the technology and design of our advanced Generation 4 reactor" said Dave Carlson, COO and Chief Nuclear Officer with HPG. 

Hyperion Power Generation Inc., based in Denver, Colorado, was founded in 2007, and is working with Los Alamos National Laboratory to design a nuclear reactor referred to as the Hyperion Power Module (HPM). The HPM is designed to power remote mining or oil and gas operations, large government complexes, and isolated or remote communities and islands. The HPM design intent is to produce 25 megawatts (MW) electric and to use uranium nitride fuel and lead-bismuth eutectic (LBE) coolant. The reactor vessel is to be sealed at the factory, sited underground, and replaced with a new module after a designed core life of ten years. The reactor vessel, including internals, will be transportable by truck, ship, and rail. The HPM will provide safe and reliable power that is available 24/7, emitting no greenhouse gasses, and operate without on-site refueling.

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