Terrestrial Energy looks to commercialise the Generation IV small modular reactor (SMR) technology and begin operating its first plant by 2028.

Simon Irish, CEO of Terrestrial Energy, said: "This review by the Canadian and US regulators is a joint examination of the fundamentals of IMSR safety and is a cornerstone technical nuclear safety review that builds further confidence in IMSR technology and supports our national regulatory programmes. Completing this joint review is an important step forward in the commercialization of the IMSR and paves the way for further cross-border collaboration."

Terrestrial Energy's IMSR is a 4th generation reactor that uses molten salt as both fuel and coolant, with integrated components, that can supply heat directly to industrial facilities or use it to generate electrical power. It aims to commission the first power plants based on the small modular reactor within a decade. Its IMSR400 configuration, with twin reactors and generators, will mean an overall power plant design with a potential output of up to 390 MWe.