We have successfully closed our first financing round: It was fully subscribed to the planned extent. Private investors, most of them medium-sized entrepreneurs, gave close to seven million Canadian dollars.
Armin Huke, President & CTO, commented, “We are pleased to have received purely private funding for our company. This is a vote of confidence from the capital market that has exceeded our expectations.”
With the funds raised, we intend to strengthen our staff and build our own premises in order to advance the development of our reactor to series maturity. This includes building up laboratory capacity as well as cooperating with renowned research institutes to prepare an initial safety analysis in accordance with international regulatory standards. In particular, very rarely occurring operating conditions will be investigated in detail using mathematical models. The results will be incorporated into the upcoming licensing procedure. CEO Götz Ruprecht comments: “Our own simulation calculations have already shown that the Dual Fluid Reactor is feasible and inherently safe. Now it’s a matter of preparing the licensing process and starting the practical work.”
Also part of the overall concept is a nuclear recycling plant that can efficiently separate so-called nuclear waste by type. In combination with the Dual Fluid Reactor, this will make a geological repository superfluous. With the existing nuclear waste alone, Dual Fluid could supply several industrialized countries with electricity for hundreds of years.
The next financing round is planned in one and a half to two years and will also be aimed at institutional investors.
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