Copenhagen Atomics secures thorium supply from Norway

Copenhagen Atomics is developing a containerised molten salt reactor. Moderated with unpressurised heavy water, the reactor consumes nuclear waste while breeding new fuel from thorium. Small enough to allow for mass manufacturing and assembly line production, the reactor has an output of 100 MWt. Copenhagen Atomics' goal is to deliver energy at a levelised cost of just EUR20 (USD23.5) per MWh.

The company's thorium reactors are expected to consume the transuranic elements in used nuclear fuel from conventional nuclear reactors, which radically reduces the amount of long-lived radioactive waste. To achieve this, Copenhagen Atomics intends to separate used nuclear fuel from light water reactors into four streams: zircaloy, uranium, fission products and transuranics. Its reactor designs can make use of plutonium (a transuranic) to 'kickstart' the use of thorium.

Copenhagen Atomics says its Letter of Intent (LoI) with Rare Earths Norway "represents a strategic step in establishing a long-term, European supply chain for thorium".

The Letter of Intent outlines the intention of the parties to collaborate on the responsible utilisation of thorium resources associated with Rare Earths Norway's planned rare earth element production. Thorium occurs naturally in the Fensfeltet deposit - one of Europe's largest known rare earth deposits - and has historically been treated as a byproduct. Through this partnership, the material may instead become a valuable energy resource.

"By securing upstream thorium supply early, Copenhagen Atomics is reducing future project risk and strengthening its ability to deliver competitive, low-cost clean energy for industrial applications such as ammonia, hydrogen, desalination and process heat," the company said.

"The LoI does not constitute a binding offtake agreement but establishes the framework for technical, commercial and regulatory collaboration as both companies advance their respective projects."

Copenhagen Atomics expects its first nuclear test reactor to operate at the Paul Scherrer Institute in Switzerland, with commercial deployment targeted in the early 2030s.

"Securing access to thorium is a natural next step in preparing for commercial deployment," said Thomas Jam Pedersen, CEO and co-founder of Copenhagen Atomics. "Our long-term goal is to mass-manufacture reactors on assembly lines. That requires a predictable and scalable supply chain for critical materials, including thorium. Norway represents a stable and strategically important source."