In the UK, Nuclear Engineering International reports start-up Core Power, led by CEO Mikal Bøe, is targeting a $10 billion order book for nuclear-powered vessels by 2030. Initial orders will likely focus on Floating Nuclear Power Plants (FNPPs) due to regulatory advantages, but nuclear-powered ships will follow soon after. Deliveries are expected to begin between 2030 and 2035.
Nuclear-powered ships offer zero carbon emissions and enhanced speed, with excess energy potentially feeding the land-based grid while docked. However, high upfront costs, around $700 million per ship, remain a challenge.
Core Power plans to lobby for updated standards from the International Maritime Organization (IMO) and the International Atomic Energy Agency (IAEA) to establish a regulatory framework for nuclear-powered shipping. Bøe anticipates the IMO will modernize its nuclear merchant ship code by 2028, with the IAEA readying its standards sooner. Additionally, the company aims to work with the insurance industry to develop a suitable liability regime.
Core Power’s first vessel using molten salt reactor design could launch by the mid-2030s, with a micro-reactor prototype to be tested at Idaho National Laboratory. The company is supported by significant investments and collaborations, including a $170 million agreement under the DOE’s Advanced Reactor Demonstration Program.
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Tags: Core Power, Floating Nuclear Power Plants, molten salt reactor, nuclear-powered vessels, UK
Category: Sustainable Marine Fuels
