Our plant fits an identified, attractive market in Canada, with major overseas growth opportunities; profit potential is significant.
StarCore’s 30 MWe nuclear reactor is safe, reliable and operated remotely. This makes it ideal for two types of frontier customers in Canada – mines and villages. These customers currently rely on diesel generation and propane, which are expensive and increasingly unreliable due to shrinking ice road capacity. For the two dozen mines we have identified, we can offer electricity and heat at prices well below the mine’s alternative cost and still be highly profitable. Villages are currently heavily subsidized by governments and utilities. For the larger villages, or those near mines, we can offer retail customers electricity at attractive prices, enable community development, substantially reduce the subsidies, and earn strong profits.
Beyond Canada, there are 1.3 billion people worldwide who have no access to electricity, and another billion relying on expensive diesel generation. Using the experience gained in Canada, we will offer affordable electricity and clean water to customers in this huge market, significantly improving their living standards and health, while earning attractive profits.
Our design is an enhancement of proven technology, and can be commercialized quickly; competition is limited.
StarCore’s High Temperature Gas Reactor (HTGR) is a derivative of designs developed in the 1950’s and 1960’s, and successfully employed commercially in applications worldwide.
We have signed a service agreement with the Canadian Nuclear Safety Commission and believe the licensing process for our technology will be expedited. We are prepared to complete the design and detailed engineering, build, and begin operating at least two pilot plants in Canada within five years. We have identified one customer that is highly receptive to a pilot plant, and have had productive discussions with other customers concerning their sites.
The HTGR is highly likely to be the fastest route for small reactor commercialization, and our immediate HTGR competition is not focussed on our target market segments, nor do they appear to have control systems suitable for remote applications. Other reactor developers offer larger units aimed at different markets, or have a slower licensing path.
Our technology is inherently safe.
HTGR technology is the only nuclear technology recognized by the International Atomic Energy Agency as “inherently safe”, which is unprecedented in the world of nuclear energy. It will not release radioactivity, and fuel cannot be diverted for terrorist purposes. StarCore’s sites will be impenetrable and unobtrusive. Our remote control systems technology is proven. We will be responsible – from implementation through operations, and at decommissioning – for total life cycle management.
Our business supports important social objectives.
StarCore’s units will have a very low carbon footprint – we are nuclear, and our approach will use modular construction and minimize waste. Our installations will displace diesel and propane, supporting larger efforts to combat climate change. We will be part of global efforts to end energy poverty, enable higher living standards, supply clean water, and improve human health.
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