The agreement provides $5 million of financial support to Moltex for its immediate development activities and Moltex will open its North America headquarters in Saint John and build its development team there.
The Moltex SSR-W reactor will use Candu fuel assemblies for its Canadian prototype.
The design does not use complex controls for managing risks, the Stable Salt Reactor – Wasteburner design eliminates risks.
The non-nuclear portion of the plant uses standard high-temperature natural gas plant turbines and other systems. Those have proven costs and build times from many projects.
The SSR design permits all complex and hazardous high-pressure equipment to be outside the nuclear island, indeed outside the licensed nuclear site in many cases. Thus it has costs similar to those in natural gas-powered stations, which are dramatically lower than in nuclear stations.