Hyperion Power Generation has announced that it has received its first letter of intent for the purchase of its Hyperion Power Module (HPM), a small-scale, transportable nuclear power reactor.
TES Group, an investment company specialising on the energy sector in Eastern Europe, intends to purchase up to six HPM units for around $25 million each, says Hyperion. Each module provides 27 MWe or 70 MWt and is designed to be buried underground, equipped with sufficient fuel for up to ten years’ operation.
The HPM concept originates from Los Alamos National Laboratory in the USA and has been licensed to Hyperion for commercialisation. It uses low-enriched uranium fuel and is supplied as a sealed module, designed to be easily transported.
“The Hyperion Power Module was originally conceived to provide clean, affordable power for remote industrial applications such as oil sands operations,” said Hyperion CEO, John R. “Grizz” Deal. “Yet, the initial enthusiasm has been from those needing reliable electricity for communities.
“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.”