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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.
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