Could A $30 Million Investment Make Nuclear Power Dramatically Cheaper?
A new British design for nuclear reactors could be safer and cheaper than current technology. It just needs $30 million to get off the ground.
The molten-salt-fueled nuclear reactor could generate electricity for less than one-third the cost of current nuclear technology because it wouldn’t require expensive high-pressure containment vessels. Designers at the company Moltex Energy LLP are asking for $30 million to complete the first stage of regulatory approval from the British government.
“The Stable Salt Reactor is a U.K.-developed technology that can produce electricity at a third of the Hinkley-C strike price,” Dr. Ian Scott, a managing partner at Moltex, told Bloomberg. “It can store energy at grid scale — catalyzing the further rollout of renewables — and can be powered by the country’s existing nuclear waste.” – READ MORE