CORE POWER launches civil nuclear program focused on floating power plants
CORE POWER Launches Floating Nuclear Initiative
Shipping nuclear propulsion start-up CORE POWER has unveiled plans for a US-based maritime civil nuclear program called Liberty. This initiative aims to introduce floating nuclear power to the market by the mid-2030s. The program will focus on modular construction of advanced fission technology and will establish the necessary regulatory and supply chain frameworks for global deployment.
Phased Development of Floating Nuclear Power Plants
The Liberty program will unfold in three phases. The first phase involves the mass production of floating nuclear power plants (FNPPs). CORE POWER plans to utilize established shipbuilding processes and a skilled workforce to manufacture these plants in modular production lines. The FNPPs will be designed as power barges, capable of being moored at ports or anchored offshore. This flexibility allows for easy transportation to customer locations without extensive site preparations.
Once operational, a fleet of FNPPs can be towed to various sites, where a central yard will handle commissioning, maintenance, refueling, and waste management. CORE POWER aims to open the order book for FNPPs by 2028, with full commercialization expected by the middle of the next decade. The reactors will operate at near atmospheric pressures, which reduces the need for large emergency exclusion zones. This feature enhances the insurability of both FNPPs and nuclear-powered commercial ships.
The second phase of the program will focus on developing the supply chain and workforce needed for this innovative technology. The third phase will concentrate on creating business operation models and establishing a manufacturing base. CORE POWER also plans to collaborate with the International Maritime Organization (IMO) and the International Atomic Energy Authority to develop a civil liability convention for nuclear-powered ships.
According to CORE POWER CEO Mikal Bøe, the Liberty program has the potential to unlock a floating power market valued at $2.6 trillion. He emphasized that shipyard construction of nuclear technology will be delivered on time and within budget, enabling nuclear energy to reach new coastal markets where 65% of economic activity occurs.
