PRESS RELEASE

17/12/2020

Seaborg Technologies Clears First Classification Milestone for Maritime Deployment of Nuclear Power Barges with ABS Statement

The American Bureau of Shipping (ABS) has issued a Feasibility Statement for the Compact Molten Salt Reactor (CMSR) developed by Danish nuclear company Seaborg Technologies. The Feasibility Statement is the first milestone in the ABS New Technology Qualification (NTQ) process, a five-phase process that aligns with product development phases.

“We are happy to have ABS assess our Compact Molten Salt Reactor. This is an important milestone towards our ambitious target to deploy the first commercial power barge by 2025”, says Seaborg co-founder and CEO Troels Schönfeldt.

Seaborg will deliver clean and affordable energy in the form of floating power barges, with a market focus on growth regions such as South East Asia. The power barges will produce clean electricity for electric grids or hydrogen production. Alternatively, the power barge can deliver high-temperature steam which can be used for process applications.

The maritime assessment will enable shipyard serial production of these floating nuclear power barges, which can be towed to their final destination and plugged into the grid. Seaborg’s partners in this project include South Korean shipyards and nuclear industry.

“The maritime approach reduces time, project risk and cost dramatically. We can leverage a highly efficient manufacturing industry with decades of experience, high safety standards and a production capacity unlike any other.” says Troels Schönfeldt.

Seaborg’s Compact Molten Salt Reactor will be installed on modular power barges, providing clean and affordable electricity worldwide. The first power barges will have two reactors installed delivering 200 MW-electric and over the 24-year lifetime it will offset min. 33,600,000 tons of CO2 compared to an equivalent coal power plant.

“The world needs energy, but we also need to decarbonize. With a highly competitive product, using existing production capacity, we can deploy hundreds of reactors every year – we are geared for global impact,” says Troels Schönfeldt.

ABS is a leading global provider of classification and technical advisory services to both maritime and nuclear industries and is committed to setting standards for safety and excellence in design and construction. Its New Technology Qualification process offers guidance for the early and efficient implementation of new technologies that are ahead of current regulatory frameworks by systematically reviewing technology risks and performance. Therefore, ABS is uniquely qualified to assess and approve Seaborg’s technology through the phases of engineering, construction and operation.

ABOUT SEABORG'S CMSR

Seaborg is developing an inherently safe 4th generation nuclear Compact Molten Salt Reactor (CMSR) with an essential proprietary moderator. With its uranium-based fluoride fuel salt, the CMSR has a number of prominent features: It cannot meltdown or explode, it cannot release radioactive gasses to air or water, and it cannot be used for nuclear weapons.

ABOUT SEABORG'S CMSR POWER BARGE

The CMSR will be installed on modular power barges, providing clean and affordable electricity worldwide. The power barge design is enabling configurations with two, four, six or eight CMSRs delivering up to 800 MW-electric or 2000 MW-thermal. The first power barges will have two reactors installed delivering 2 x 100 MW-electric for the 24-year lifetime of the power barge.

ABOUT SEABORG TECHNOLOGIES

Seaborg Technologies is a nuclear reactor company on a mission to create a clean and safe energy technology that can out-compete fossil fuels and revolutionize energy markets. Its headquarters and R&D facilities are located in Copenhagen, Denmark. More info:

www.seaborg.co

MEDIA CONTACT

MIKKEL VEJE RØNSBO

mvr@seaborg.co

+45 4242 8912