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Hyperion Power Generation, the start-up company that plans to make small nuclear power reactors, announced that it has received its first Letter of Intent for purchasing up to six units at about $25 million each.
The company’s CEO John “Grizz” Deal said the order was placed by TES, an investment group focusing on the energy sector in Central Eastern Europe.
A Hyperion press release said TES could potentially be in the market for up to 50 of the nuclear power modules.
The Hyperion Power Module, conceived at Los Alamos National Laboratory was originally intended for remote industrial operations, like oil sand extraction in northern Canada, but the company has found strong interest from communities, including island populations and developing nations, looking for cleaner power that does not contribute to global warming.
The development work is underway at LANL under a work-for-hire agreement.
“Today’s safer, proliferation-resistant nuclear power technology is the answer, but it’s not feasible for every community to be tied to a large nuclear power plant,” said Deal in the press release. “Some communities, those that need power for just the most basic humanitarian infrastructure, such as clean water production for household use and irrigation, are too remote for conventional nuclear power.”
The company plans to produce 4,000 units of the same design, which they describe as “inherently safe and proliferation resistant.” They would be sealed for shipping from company manufacturing sites.
Each power module provides 27 megawatts of electricity, which could provide power for 20,000 homes in a typical American community.
Hyperion investors include the Altira Group, a technology fund manager, and Los Alamos National Security, LLC, the partnership that manages Los Alamos National Laboratory.