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Terrestrial Energy Inc. (“TEI”) was founded in late 2012 and is headquartered in Ontario, Canada. TEI's mission is to develop an operational commercial-scale demonstration Molten Salt Reactor by 2021 – fully licensed and ready for substantial commercial deployment. The Company has been formed around Dr. David LeBlanc and his intellectual property portfolio. Dr. LeBlanc is the internationally recognized expert on MSR technology. TEI’s founding board of directors consists of executives from the oil-sands, mining and finance sectors. TEI’s international advisory board consists of highly credible experts in nuclear science, nuclear engineering and nuclear regulatory policy. This board has deep roots into the U.S. nuclear science establishment with the services of Dr. Ralph Moir and Richard Engel. Dr. Moir was co-author and colleague of Edward Teller – one of the "founding fathers" of U.S. nuclear science – both known for their strong advocacy of MSR technology. Richard Engel was responsible for many aspects of the design, construction, operation and management of Oak Ridge National Lab’s highly successful MSR. No other engineer has as much MSR experience today. TEI has a four-phase business plan to develop, obtain necessary licenses, and commercialize its proprietary MSR technology – the Integral Molten Salt Reactor (“IMSR”). The IMSR will provide a clean, safe, compact, reliable, modular, cost-competitive energy source for power and industrial heat at the point of demand. It will be developed over a range of sizes, from 80 MWt to 600 MWt. TEI views Canada as a favorable jurisdiction for development, licensing and marketing of the IMSR. The market for the IMSR is enormous – any industry that requires reliable cost-competitive heat and power at point of demand. For example: ammonia and fertilizer production, mining, oil-sands production, petroleum refining, desalination…to name but a few. The IMSR is expected to be as inexpensive to build as a natural gas power station, yet have the operating and fuel cycle costs of an LWR – the best of both worlds. With this combination the IMSR has the potential to be the most cost-competitive source of energy for heat and power today. When its proliferation resistance, low long-lived waste production and passive safety are also considered, TEI's IMSR is a compelling proposition. TEI believes it can achieve its mission by 2021. The IMSR is a revolution in energy cost innovation – it is the most disruptive energy technology today.
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