Mirion Technologies Signs Agreement with TerraPower for Molten Chloride Reactor Experiment

Rhea-AI Summary

Mirion Technologies (NYSE: MIR) has entered into an agreement with TerraPower to design and fabricate key components for the Molten Chloride Reactor Experiment (MCRE), the world’s first critical fast-spectrum salt reactor. This collaboration aims to advance sustainable, low-carbon energy solutions. The MCRE, part of the U.S. Department of Energy’s Advanced Reactor Demonstration Program, will inform the design of TerraPower’s Molten Chloride Fast Reactor (MCFR). Mirion will supply a custom-built MCRE Nuclear Instrumentation System (NIS) to protect the reactor’s core and monitor its neutronic condition.

Positive

• The collaboration between Mirion Technologies and TerraPower reinforces their commitment to advancing sustainable, low-carbon energy solutions. Mirion's expertise in nuclear power solutions and TerraPower's innovative reactor technology position them well for success in the development of the MCRE. The agreement aligns with the U.S. Department of Energy's Advanced Reactor Demonstration Program, supporting the growth of safe and affordable advanced reactor technologies for a carbon-free economy.

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• None.

Contract to provide Nuclear Instrumentation System Design and Fabrication that will Advance the World’s First Critical Fast-Spectrum Salt Reactor

ATLANTA--(BUSINESS WIRE)-- Mirion Technologies (NYSE: MIR), a leading provider of advanced radiation safety solutions, today announced an agreement with nuclear innovation company TerraPower to design and fabricate key components of their Molten Chloride Reactor Experiment (MCRE), the world’s first critical fast-spectrum salt reactor. This collaboration reinforces TerraPower and Mirion’s commitment to fostering sustainable, low-carbon energy solutions that address climate change and support a net-zero future.

In February 2023, TerraPower and Southern Company announced their agreement to design, construct and operate the MCRE at Idaho National Laboratory as part of the U.S. Department of Energy’s Advanced Reactor Demonstration Program (ARDP), which aims to speed the growth of safe and affordable advanced reactor technologies for a carbon-free economy. The MCRE will inform the design, licensing and operation of TerraPower’s Molten Chloride Fast Reactor (MCFR) – an innovative reactor technology that could provide low-cost, clean energy at scale.

Mirion will supply a custom-built MCRE Nuclear Instrumentation System (NIS), a critical safety-significant component that will help protect the reactor’s core from overpower and continuously monitor the neutronic condition of the core.

“Throughout the process of bringing the Molten Chloride Fast Reactor to market, we have found that working with a diverse supply chain strengthens our ability to deliver a cutting-edge technology,” said Jeff Latkowski, Senior Vice President for the Molten Chloride Fast Reactor. “Through the MCRE Risk Reduction Program and in partnership with experts from various industries, we look forward to collaborating with these suppliers to advance nuclear technology.”

A market leader in nuclear power solutions including radiation monitoring systems, reactor instrumentation and controls, and criticality systems, Mirion has been actively engaged in supporting the development of the next generation of reactor technologies. The partnership with TerraPower on the MCRE is in line with the company’s mission to use its extensive knowledge of ionizing radiation to benefit humanity.

“We are proud to be partnering with TerraPower on this groundbreaking technology aimed at bolstering sustainable and accessible energy as part of a net-zero future,” said Silas Stark, Vice President, Americas, Radiation Monitoring Systems at Mirion. “We look forward to applying our deep experience and understanding of nuclear technology to support the success of the MCRE project.”

View Mirion products and solutions at mirion.com/smr.

About Mirion

Mirion (NYSE: MIR) is a global leader in radiation safety, science and medicine, empowering innovations that deliver vital protection while harnessing the transformative potential of ionizing radiation across a diversity of end markets. The Mirion Technologies group provides proven radiation safety technologies that operate with precision – for essential work within R&D labs, critical nuclear facilities, and on the front lines. The Mirion Medical group solutions help enhance the delivery and ensure safety in healthcare, powering the fields of Nuclear Medicine, Radiation Therapy QA, Occupational Dosimetry, and Diagnostic Imaging. Headquartered in Atlanta (GA – USA), Mirion employs approximately 2,700 people and operates in 12 countries. Learn more at mirion.com.

About TerraPower

TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like-minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement, and other cutting-edge opportunities. It accepts and tackles some of the world’s most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world’s public and private sectors to answer pressing global needs. Learn more at terrapower.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116003380/en/

For investor inquiries:

Jerry Estes

ir@mirion.com

For media inquiries:

Mirion

Erin Schesny

media@mirion.com

TerraPower

press@terrapower.com

Source: Mirion Technologies

FAQ

What is the purpose of the agreement between Mirion Technologies and TerraPower?

The purpose of the agreement is to design and fabricate key components for the Molten Chloride Reactor Experiment (MCRE), the world’s first critical fast-spectrum salt reactor, to advance sustainable, low-carbon energy solutions.

What is the role of Mirion in the collaboration with TerraPower?

Mirion will supply a custom-built MCRE Nuclear Instrumentation System (NIS) to protect the reactor’s core from overpower and continuously monitor the neutronic condition of the core.

What is the significance of the MCRE in the context of the U.S. Department of Energy’s Advanced Reactor Demonstration Program?

The MCRE will inform the design, licensing, and operation of TerraPower’s Molten Chloride Fast Reactor (MCFR) and support the growth of safe and affordable advanced reactor technologies for a carbon-free economy.

Where can Mirion products and solutions be viewed?

Mirion products and solutions can be viewed at mirion.com/smr.