Canadian Terrestrial Energy has formed an alliance with Dalton Nuclear Institute at the University of Manchester in UK to develop its Integral Molten Salt Reactor (IMSR).
The firm intends to accelerate work on the development in order to make it ready for the construction and licensing phase, which has been scheduled for early 2017.
The reactor represents a Generation IV nuclear reactor system, which can ensure high standards of nuclear safety, waste, proliferation and cost competitiveness.
Terrestrial Energy chief executive Simon Irish said: "We are exceedingly pleased to be working with the Dalton Nuclear Institute and adding a European dimension to what is already an international project involving complementary work by universities and national laboratories, including Oak Ridge National Laboratory and the University of Tennessee in the USA, and Canadian Nuclear Laboratories and the University of Waterloo in Canada.
"We are continuing with our plans for international research, development and commercialisation."
Once developed, IMSR will be able to deliver stable, carbon-free, high-quality heat and power for industrial customers at a cost which can be at par with the power generation costs from fossil fuels, including coal.
The technology can offer the advantages of being grid- and water-independent, scalability, and convenience if fossil fuels are used for energy production.
It will be ideal to be used across small-to-medium power markets, industrial facilities, remote or otherwise, and remote communities.
University of Manchester professor Tim Abram said: "We welcome the opportunity to work with Terrestrial Energy and look forward to helping them take forward this promising molten salt reactor technology."
Image: The Dalton Cumbrian Facility. Photo: courtesy of The University of Manchester.