Thorium is a relatively unknown chemical element. But, could it change the way nuclear energy is produced?
What’s happening:
- Geneva, Switzerland based nuclear energy startup Transmutex has raised $23M USD in a new Series A financing round
- The round was led by Union Square Ventures and Steel Atlas
The big idea:
- Transmutex has developed a innovative new approach to producing sustainable nuclear energy through the use of thorium
- Their technology involves a particle accelerator that triggers a fission reaction with thorium, which is capable of being stopped immediately if needed and thereby reducing the risk of disasters or unintended hazardous waste
- When thorium is used as fuel with Transmutex’s technology, no plutonium or other long lived waste is produced whatsoever
Going deeper:
- Transmutex has multiple notable venture capital investors already, including Presight Capital, Verve Ventures, Hardware Club and others
- Thorium is significantly more abundantly available than uranium, but has never successfully found a way to be used in generating carbon free power
- Since safety concerns have been one of the largest obstacles preventing the global adoption of nuclear energy, Transmutex believes that leveraging thorium as a fuel source could unlock a new paradigm for building nuclear power infrastructure
By the numbers:
- A fission reaction with thorium can be stopped in less than 2 milliseconds if needed
- Transmutex believes their technology is capable of producing 200 gigawatts to 1 megawatt of carbon free base load power through modular installations
