18 November 2010 - Aker Solutions' Accelerator Driven Thorium Reactor (ADTR(TM)) has won the prestigious Energy Award at this year's IChemE (Institution of Chemical Engineers) Innovations and Excellence Awards. The Energy Award recognises the best project or process to demonstrate innovation in renewable energy, alternative energy sources, efficient energy use or the development of energy production methods that reduce energy and water intensity.
More about the ADTR(TM) power station
The Accelerator Driven Thorium Reactor (ADTR(TM)) power station is the name given by Aker Solutions for the company's new design of a nuclear power station. Given world-wide expansion in nuclear power generation, driven by many countries to combat climate change and meet growth in energy demand, the ADTRTM provides the ideal solution to use thorium as an alternative fuel to uranium.
Aker Solutions has developed the concept design of a 600MWe ADTRTM power station with Nobel Prize winner Professor Carlo Rubbia of CERN. The design is an accelerator driven, thorium fuelled, lead cooled, power producing, fast reactor. Thorium is an abundant mineral deposit; there is 3 to 5 times more thorium in the world than uranium. One tonne of mined thorium produces as much energy as 200 tonnes of mined uranium, or 3,500,000 tonnes of mined coal. Thorium has non-proliferation benefits as it does not require the expensive enrichment process often associated with military use.
The ADTR(TM) power station can be configured to burn radioactive wastes from current uranium fuelled reactors, thus reducing the long term waste burden and environmental risks with waste storage. The ten year fuel cycle gives the ADTR(TM) significant economic benefits over current uranium fuelled nuclear reactors.
A key advantage of accelerator driven, sub-critical systems over conventional nuclear reactors, is that the accelerator is the main source of reactor control; turn off the accelerator and the reaction reduces virtually instantaneously. This system also enables simple load following control capability.
"This technology offers the potential to supply even small grids from compact 600MW reactors constructed safely underground," says Gary Mandel, executive vice president of Aker Solutions' Process and Construction business.
The ADTR(TM) power station is targeted at the global energy market, aligning itself with fourth generation nuclear reactor concepts that will come to fruition by 2030.
The IChemE Innovations and Excellence Awards
Now in its 17th year, the IChemE awards recognise and reward chemical engineering innovation and excellence and are highly regarded throughout the international chemical, process and biochemical engineering community.
For further information, please contact:
UK: Vanessa Mourant, VP Communications, Aker Solutions. Tel: +44 (0) 208 545 0270, Mob: +44 (0)7771 806566
Victoria Ashley, ADTRTM Project Manager, Aker Solutions. Tel : +44 (0) 1642 334072, Mob: +44 (0)7825 113388
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 54 billion and employs approximately 22 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. Through its majority-owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Solutions, and takes an active role in the development of the company.
Aker Solutions' Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, liquefied natural gas (LNG), metals and mining, power generation, nuclear clean-up, and acid plants. From initial concept through technology development, process technology application, design, procurement, construction, commissioning, operations, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services. Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.