Hyperion Power Generation Lands Initial Set of Customers for the HPM Small, Safe, Transportable Nuclear Power Reactor
LOS ALAMOS, N.M.--(Business Wire)--
Hyperion Power Generation's CEO, John R. "Grizz" Deal, announced
today that the company has received its first Letter of Intent to
purchase the Hyperion Power Module (TM) (HPM), a small, compact,
transportable, nuclear power reactor.
http://www.HyperionPowerGeneration.com
The intention to purchase up to six units for various projects, at
approximately $25 million each, was placed by TES Group, an investment
company focusing on the energy sector in Central Eastern Europe. If
successful, they could potentially be in the market for up to 50 HPMs.
Each power module provides 27 megawatts of electricity when connected
to a steam turbine, enough to provide electricity for 20,000
average-size American-style homes or the industrial equivalent.
"The Hyperion Power Module was originally conceived to provide
clean, affordable power for remote industrial applications such as oil
sands operations," said Deal. "Yet, the initial enthusiasm has been
from those needing reliable electricity for communities. The big
question for the 21st century is, 'how do we provide safe energy to
those who need it, indeed those developing nations who demand it,
without contributing to climate change?' Today's safer,
proliferation-resistant nuclear power technology is the answer, but
it's not feasible for every community to be tied to a large nuclear
power plant. Some communities, those that need power for just the most
basic humanitarian infrastructure, such as clean water production for
household use and irrigation, are too remote for conventional nuclear
power. This is where the Hyperion Power Module, a safe, secure,
transportable power generator can help."
Conceived at Los Alamos National Laboratory, the Hyperion Power
Module intellectual property portfolio has been licensed to Hyperion
Power Generation for commercialization under the laboratory's
technology transfer program. Inherently safe and
proliferation-resistant, the HPM utilizes the energy of low-enriched
uranium fuel in a technology unlike any other currently in use or in
development. Approximately 4,000 units of the same design will be
produced, sealed and shipped from company manufacturing sites.
More information can be found at:
http://www.HyperionPowerGeneration.com. Press contact: Deborah
Blackwell, APR: Press@hyperionpowergeneration.com.
Hyperion Power Generation
Deborah Blackwell, 703-722-2821
Press@hyperionpowergeneration.com
Copyright Business Wire 2008
