Nuclear Power
The global nuclear power sector, consisting of about 440 reactors, relies heavily on uranium. However, with approximately 80% of these reactors capable of transitioning to thorium-based fuel, the benefits are substantial. Thorium offers increased raw material availability, enhanced safety margins, and significantly reduced long-lived nuclear waste. As the world's uranium reserves are projected to last only 40-50 years, thorium is emerging as a crucial alternative. With the number of new reactors expected to triple by 2050, we advocate for thorium-based fuel as a standard for any new nuclear power plants in Norway.
Medicine
Thorium-derived radium is a cornerstone for cutting-edge "cell-targeted" cancer treatments. Our factory will produce significant quantities of radium to meet the rising demand in the medical industry. The production of radium, alongside pure thorium, presents unique synergies, making our process highly efficient. We are already witnessing substantial interest from established pharmaceutical companies in these innovative products.
Raw Material Supply
Securing a consistent supply of raw materials is vital for our factory's success. Through our contracts with REE Minerals AS and our exploration rights via Norway Minerals AS, we have positioned ourselves to meet long-term demands. Additionally, our international partnerships are paving the way for rapid establishment and operation, ensuring we meet the growing market needs. Our efforts include adhering to national and international regulations for the import and export of raw materials and finished products.