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« Josh Young Finds Value in Oil and Gas E&Ps | Main | SK OptionTrader Closes 13 Trades, Banking 43% to 100% »
Monday
Nov152010

Hyperion Power Key Member of New Nuclear Maritime Consortium

Hyperion Logo 20 Nov 09.JPG

Just in is this missive from Hyperion Power regarding the possibility of future commercial shipping being powered by small modular reactors:

Shipping and power experts join forces to explore the potential for nuclear power to propel future generations of commercial tankers

Members of new research consortium, which includes Lloyd's Register, Enterprises Shipping and Trading, Hyperion Power Generation and BMT, to examine the marine applications for small modular reactors (SMRs).

LONDON - November 15, 2010 - A consortium of British, American and Greek interests have agreed to investigate the practical maritime applications for small modular reactors as commercial tanker-owners search for new designs that could deliver safer, cleaner and commercially viable forms of propulsion for the global fleet.
 
The Strategic Research Group at Lloyd's Register, Hyperion Power Generation Inc, British designer BMT Nigel Gee and Greek ship operator Enterprises Shipping and Trading SA are to lead the research into nuclear propulsion, which they believe is technically feasible and has the potential to drastically reduce the CO2 emissions caused by commercial shipping.
 
"This a very exciting project," said Lloyd's Register CEO, Richard Sadler. "We believe that as society recognises the limited choices available in the low carbon, oil scarce economy and land based nuclear plants become common place we will see nuclear ships on specific trade routes sooner than many currently anticipate."
 
The agreement for the joint industry project was signed today at the offices of Enterprises Shipping and Trading in Athens, Greece. Enterprises' Victor Restis, commenting at the signing said, "Despite the fact that shipping is the industry that contributes much less in the World's atmospheric pollution compared to other shore based industries, we believe that no effort is enough towards safeguarding a better world for the future generations. We are extremely honored and proud to be part of this consortium at this historic event as we strongly believe that alternative power generation is the answer for the shipping transportation."
 
The consortium believes that SMRs, with a thermal power output of more than 68 megawatts, have the potential to be used as a plug-in nuclear 'battery'.
 
The research is intended to produce a concept tanker-ship design based on conventional and 'modular' concepts. Special attention will be paid to analysis of a vessel's lifecycle cost as well as to hull-form designs and structural layout, including grounding and collision protection.
 
"We are enthusiastic about participating in the historic opportunity presented by this truly groundbreaking consortium," said John R. 'Grizz' Deal, the CEO of Hyperion Power. "In addition to fitting the basic requirements as the model for studying the application of SMRs in commercial naval propulsion, the Hyperion Power Module [HPM] can also help to set new nuclear maritime standards. The HPM's design includes a non-pressurised vessel, and non-reactive coolant. These features, among others in the HPM, should encourage the industry to strive for even higher levels of inherent safety in their models."
 
International shipping has been identified as a significant global contributor to greenhouse gas emissions, and it is under mounting pressure to contribute to overall emission reductions. There is an ongoing debate about how much the sector will be able to reduce those emissions, while continuing to support the forecast expansion in world trade that it enables.
 
"Nuclear propulsion offers the opportunity for an emissions-free alternative to fossil fuel, whist delivering ancillary benefits and security to the maritime industry," said Dr Phil Thompson, Sector Director -- Transport, for the BMT Group. "We look forward to using our wide range of maritime skills and expertise to identify the through-life implications, risks and potential for developing and using SMRs in the civilian maritime environment and to provide a framework for its safe and reliable introduction and utilisation."

So there we have it, they do appear to be making excellent progress.

Over in the options trading pit the team have just updated the progress chart to include last weeks closed trades as follows:

sk Chart 14 November 2010.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today?


Stay on your toes and have a good one.

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