Core Power engages regulators with opening of Washington DC office

Mikal Boe, Chairman and CEO, CORE POWER (Image courtesy of Core Power)

Core Power, the UK-based technology developer specializing in advanced nuclear power for shipping, has established a subsidiary in the US and opened an office in Washington DC

A team of leading nuclear innovation companies, including Southern Company, TerraPower and CORE POWER, secured cost-shared funding from the US Department of Energy to develop the world’s first proof of concept molten salt reactor (MSR) in the United States by 2025.

“We have significantly ramped up our activities in the United States over the past year and we have decided it is time to establish a permanent presence in this market,” said Mikal Bøe, Chairman and CEO of CORE POWER, adding, “CORE POWER is building a market for MSR in global shipping, so our engagement with the U.S. government, the energy industry, and major regulatory agencies here, means our decision to make Washington DC our home in the United States is a natural fit ”.

The maritime transport sector has around 100,000 ships emitting more than 1 billion tonnes of CO2 per year, of which 20% of the sector is responsible for 80% of these emissions.

“Maritime transport carries 90% of all world trade and with advanced nuclear power which is truly zero emissions, we can both have a significant impact on climate change and provide substantial economic benefits to the industry,” said Bøe.

With the added pressure on shipping to cut emissions on a staggered schedule from international leaders at COP26 last week, momentum is building to leverage advanced nuclear power for green fuel production and propulsion of ships.

Advances in MSR technology offer the potential to create the perfect civilian grade zero-emission power source that neither threatens the tactical superiority of a nuclear navy, nor poses a threat to the peace and stability of states in the United States. Harbor.

“It is very important that those responsible for managing export controls and licensing can be fully convinced that the large-scale production of zero-carbon green fuels with advanced nuclear propulsion as well as civilian nuclear propulsion is proposed for all the right reasons. Our permanent presence in DC means that we will be engaging on these issues in the years to come, ”said Bøe.

The successful deployment of advanced nuclear technologies to produce an industrial supply chain of low-cost, low-carbon fuels for ships, leading to nuclear-powered merchant ships within a climate-determined timeframe, depends on international collaboration to advance both development and licensing.

“Our office in Washington DC is an important element in achieving international collaboration in public and private procurement,” concludes Bøe.

News from the Sea, November 9

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