Thorium molten salt reactors: Danish firm gains funding boost for 100 MW units
Danish innovator Copenhagen Atomics has secured a major financial endorsement from the European Innovation Council (EIC) to advance its groundbreaking nuclear reactor technology.
The firm will receive a $3 million grant and access to $17 million in potential equity to fast-track the development of its thorium molten salt reactors (MSRs).
“The company is one of just 40 startups selected out of approximately 150 finalists in the latest round of EIC funding, aimed at supporting breakthrough technologies with high market potential,” said the company in a press release.
Engineered to be mass-produced
The project’s core technology is a compact, containerised molten salt reactor, which is uniquely engineered to be mass-produced in a factory. This design aims to make clean energy scalable and globally deployable.
Unlike traditional reactors, Copenhagen Atomics’ units operate at atmospheric pressure, enhancing safety, and use a liquid fuel based on abundant thorium. These reactors can also consume recycled nuclear waste as part of their fuel.
“Operating at atmospheric pressure, the reactors use thorium-based liquid fuel and heavy water moderation. Each unit delivers 100 MWth and can use recycled nuclear waste as part of the fuel cycle,” added the company.
This also presents a solution to the dual challenges of energy production and long-term waste management.
“When the rules are in place for spent nuclear fuel recycling, then these thorium reactors are able to consume all transuranics in the world,” noted Copenhagen Atomics.
Demonstrating significant progress
The company has already demonstrated significant progress, having built and rigorously tested two full-scale non-fission prototypes. Moreover, key components like pumps, heat exchangers, and salt purification units have successfully logged over 10,000 operating days.
The EIC funding will now fuel the next crucial stages, i.e. building a third prototype and preparing for the first nuclear fission test in collaboration with Switzerland’s prestigious Paul Scherrer Institute.
“This funding is a strong endorsement of Copenhagen Atomics’ vision to deliver clean, affordable, and scalable energy through mass-manufactured reactors,” stated Thomas Jam Pedersen, CEO and co-founder.
“It will accelerate our efforts to bring our technology from prototype to market.”
Ambitious timeline with several applications
The company has set an ambitious timeline, aiming for its first commercial reactor to be operational by 2028. The long-term strategy involves deploying entire fleets of these reactors, each capable of producing 100 MWth.
“The long-term goal is to deploy fleets of these reactors to supply industrial heat and electricity for applications such as desalination, hydrogen and ammonia production,” concluded the press release.
The commercial rollout will be handled by a subsidiary, UK Atomics, under an innovative “energy-as-a-service” model. This strategy removes the massive capital expenditure burden from the customer, with UK Atomics building, owning, and operating the reactors.
Copenhagen Atomics projects this will allow them to deliver electricity at a competitive price point below $48 per MWh, disrupting the energy market.
Copenhagen Atomics currently operates a commercial division that markets some of its developed technologies. This includes selling molten salt loops for research purposes and supplying highly purified salts to the concentrated solar power industry.