Marvel Discovery Corp has announced that subsidiary New Marvel Energy is moving ahead on a design study for standardized nuclear fuel for small modular nuclear reactors (SMR) for use in land and energy including long-range space flight.
In a statement, the company said Canada has one of the most promising markets for SMR technology, with a potential value of $5.3 billion by 2040. Globally, the SMR market is much bigger at $150 billion by 2040.
Typically, SMRs have a power capacity of 300 megawatt electrical (MWe) per unit making it ideal as it produces large amounts of low to no carbon electricity.
READ: Marvel Discovery inks option deal to acquire uranium claims in Canada’s Athabasca Basin
Marvel said the SMRs are a fraction of the size of conventional nuclear power reactors that harness nuclear fission to generate heat to produce energy. Also, SMRs are modular, as components can be factory assembled and transported to a location for assembly.
One of the challenges to accelerating access to energy, the company said, is infrastructure due to limited grid coverage in rural areas, as costs associated with grid connections for rural electrification make SMRs one of the only viable solutions available.
The Canadian government through its Strategic Investment Fund is focusing efforts in the sector by investing in its third SMR technology company at US$21.6M in Westinghouse Electric Canada to support its eVinci microreactor. Saskatchewan, New Brunswick, Ontario, and Alberta have pushed ahead with plans to build small reactors to supply power.
Marvel said conventional reactors deliver 1,000MW of energy, SMRs generate between 200-300MW enough to power about 300,000 homes. Canada's Athabasca has the ability to ensure Canadian's energy independence and is uniquely positioned to provide uranium to fuel SMRs.
"As our government moves swiftly with our green economic recovery, we are laying the foundation for a better and more prosperous climate-oriented future. Westinghouse's innovative technology will help deliver cleaner energy sources across Canada, especially in remote communities. This investment will play a critical role in fighting climate change, building on Canada's global leadership in SMRs, and securing jobs in Ontario's energy sector," said François-Philippe Champagne, Minister of Innovation, Science and Industry.
The company said it is also working with researchers to complete a design study for TRISO which stands for TRI-Structural ISOtropic fuel. Each Triso particle is made up of uranium carbon and oxygen fuel kernel. The Kernel is encapsulated by three layers of carbon- and ceramic-based materials that prevent radioactive fission products.
These particles are incredibly small (about the size of a poppy seed) and very robust. TRISO fuels are structurally more resistant to neutron irradiation, corrosion, oxidation, and high temperature. The triple-coated particle acts as a vault as its own containment system.
TRISO particles cannot melt in a reactor and can handle extreme heat due to their resistance to melting, making them an ideal fuel for space flight.
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