Seaborg Technologies has seen continued, strong progress in the development of our innovative, safe and highly scalable Molten Salt reactor concept. As part of the continued efforts, we are announcing the following:
Seaborg raised approximately DKK 200M to accelerate our development and expanding our team in Denmark and Korea, as well as launching several development projects with partners in Europe, the US and Korea. The capital is provided exclusively by existing investors.
Seaborg has appointed Niels de Coninck-Smith as Chairman. Niels provides a wealth of experience via his career as partner in McKinsey, CEO of Ferrosan and board member in a range of companies related to industries with heavy R&D investments, incl. the energy sector. Niels de Coninck-Smith joins a board which was strengthened in late 2024 with Lise Mortensen (former CFO of Christian Hansen A/S) and Philippe Bordarier (ex-EdF with 20+ years of nuclear experience across Europe). Former CEO and co-founder, Troels Schönfeldt, is stepping down from the board after having served the company through 10 years, incl. many years as an instrumental CEO.
2024 saw strong progress for the development of the Seaborg technology, including development projects with Idaho National Laboratory in the US and EU's Joint Research Centre in Karlsruhe, Germany. In Korea the feasibility study on fuel salt production with Kepco Nuclear Fuel and GS E&C is progressing well and collaboration with Korea Atomic Energy Research Institute has been further strengthened.
Andreas Schofield, co-founder and CTO of Seaborg says, "Through the dedicated work of our team, the design and research basis of our reactor technology has now reached a maturity where we are ready to start licensing activities with the nuclear authorities in South Korea. The next design phase will be focused on scaling up testing and validation in our newly expanded facilities and with external partners in Korea and globally."
"Together with our two, strong consortium partners, Samsung Heavy Industries and Korea Hydro and Nuclear Power, we plan for our first reactor to be ready in the first half of the 2030's, followed by series production from the mid-2030's", says Klaus Nyengaard, CEO of Seaborg Technologies
Klaus Nyengaard, CEO: klaus.nyengaard@seaborg.comRasmus Bjerngaard, CBO: rasmus.bjerngaard@seaborg.com