PRESS RELEASE
25/11/2020
Seaborg Technologies secures 8-Digit Euro sum in private funding to accelerate deployment of molten salt reactors
The Danish molten salt reactor designer, Seaborg Technologies, has secured an 8 digits (EUR) sum in seed funding from a small group of private Danish and European investors.
The funds will be spent on 50 new hires and a state-of-the-art lab to increase the technological lead in the field, progress to the next stage of regulatory approval, and maintain the aggressive schedule towards the first commercial operation.
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Seaborg’s mission is to market cheap, serially produced floating nuclear power barges, specifically targeting developing countries in global regions where renewables are unfavorable, such as in South East Asia. Seaborg is working closely with regulators, shipyards, and the nuclear industry to deliver first-power-to-grid already in 2025 – somewhere in South-East Asia.
THE TECHNOLOGY
The molten salt reactor technology is radically different from conventional nuclear. It cannot meltdown or explode, it cannot release hazardous radioactive gasses to air or water, and it cannot be used for nuclear weapons. Seaborg’s proprietary compact molten salt reactor will be installed on modular power barges, providing clean and cost-competitive electricity world-wide. The first power barges will have two reactors installed, delivering 2x100MWe (or 2x250 MWth) and will need to be refueled every 12 years.
ABOUT SEABORG TECHNOLOGIES
Seaborg Technologies was founded in 2014 by scientists with experience from the Niels Bohr Institute, Technical University of Denmark, CERN, UC Berkeley, European Spallation Source, and Paul Scherrer Institute. The first external funding was secured in early 2018. The team today encompasses 30+ experts in a variety of disciplines (inc. 12 PhDs), attracted to Copenhagen from all around the world.