Americas News
Core Power Targets Mid-2030s for US Floating Nuclear Plant Debut
Nuclear technology firm Core Power has launched a US-based maritime civil programme called Liberty, with the aim of bringing floating nuclear power to market by the mid-2030s.
The Liberty programme will establish the groundwork for the use of nuclear power in the civil maritime sector, Core Power said in an emailed statement on Monday.
The programme will include the modular development of advanced fission technology and aim to create the necessary regulatory and supply chain structures to support the worldwide deployment of this technology.
The first phase of the Liberty programme will focus on the mass production of floating nuclear power plants (FNPP). The expertise gained from this phase will lay the groundwork for developing nuclear propulsion systems for commercial ships in the second phase.
In his keynote presentation at Core Power's New Nuclear for Maritime Summit in Texas' Houston on February 12, Mikal Bøe, CEO at Core Power set out the company's plans.
"The Liberty program will unlock a floating power market worth $2.6 tn, and shipyard construction of nuclear will deliver on time and on budget," Bøe said.
Core Power says FNPP can be mass-produced and towed to customer locations without the need for complex site preparations, with a central yard handling commissioning, maintenance, refuelling and waste management.
"Unlike conventional nuclear technologies, these next-generation reactors are inherently and passively safe and operate at near atmospheric pressures –negating the need for a large emergency exclusion zone and vastly improving the insurability of FNPPs and nuclear-powered commercial ships," Core Power said.
The company anticipates receiving its first orders for floating nuclear plants in 2028.
Last month, Core Power announced plans to develop floating nuclear plants to generate electricity to power ports in the US.
Bøe told Ship & Bunker last year that he expects the first orders of vessels equipped with nuclear reactors before the end of this decade.
