Ocean-Power to consider deployment of Danish SMRs

The MoU initiates a strategic collaboration between the two companies, combining Ocean-Power's expertise in project development and energy conversion with Copenhagen Atomics' advanced reactor technology.

The joint study will assess the technical and regulatory conditions for deploying thorium reactors in Norway. It will include evaluations of power and heat demands, site selection, dialogue with Norwegian stakeholders, and conceptual design of a complete energy plant based on Copenhagen Atomics' reactor modules.

The study will provide a basis for potential further collaboration on project development and deployment.

"Our modular reactor technology is designed to be scalable, cost-efficient, and flexible," said Copenhagen Atomics CEO Thomas Jam Pedersen. "We are excited about this collaboration with Ocean-Power and view Norway as a promising market for the next generation of nuclear energy."

Ocean-Power's current concept is to develop floating power plants featuring combined cycle power plants (gas turbines and steam turbines). The 200-250 MW floating plants would be used to supply power to nearby platforms for the offshore version and to the grid inshore. CO2 from the exhaust gases will be captured and would then be either injected directly into a nearby geological formation, into a pipeline or liquefied and transported by vessel for usage or permanent storage.

"This is an important step in our mission to provide sustainable and reliable power for Norwegian industry," said Ocean-Power CEO Erling Ronglan. "We see great potential in Copenhagen Atomics' technology and look forward to exploring how it can be integrated with our capabilities to deliver clean, firm power to the grid."

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.