Monday Afternoon, I drove to ORNL to hear a presentation by Dr. Kazuo Furukawa and Keishiro Fukushima of the "International Thorium Energy & Molten-Salt Technology Inc." (IThEMS). Dr. Furukawa is a distinguished Japanese nuclear scientist who for over a generation has worked to keep international interest in Molten Salt Reactors alive. IThEMS is a vehicle for launching Dr. Furukawa's Fuji reactor technology. Dr. Furukawa and Mr. Fukushima are looking for investors and development partners. They want to build their first prototype, the 10 MW Mini-Fuji in the United States with an American partner doing the prototype construction. The Mini-Fuji is a practical project because uses technology developed at ORNL for the Molten Salt Reactor Experiment (1965-1969). Thus the little research would be involved in prototype development. IThEMS business plans call for the Mini-Fuji prototype to be operational by 2015 and for a larger 200 MW Fuji reactor to follow by 2020. IThEMS plans to market both reactors. Mr. Fukushima stated that IThEMS is negotiating with Korean Shipbuilders over the potential sale of Mini-Fujis for ship propulsion systems. According to Mr.Fukushima the Korean shipbuilders are in competition with the Chinese, and view mini-Fuji power as potentially offering a competitive advantage. It should be noted that in the long range energy picture decarbonization would require that fossil fuel powered engine technology be replaced by energy from non-carbon emitting source. The options appear to be nuclear power, or synthetic liquid fuel. IThEMS claims that it can build the Fuji for 30% less than conventional water cooled reactors. Thus ship propulsion would appear to represent a market opportunity for the Mini-Fuji. Industrial process heat would be another. The Mini-Fuji would also serve as the energy source for a stand alone nuclear battery system, although that field looks crowded at the moment. The Mini-Fuji would have some advantages over its competitors including superior safety and low cost.
I offered to have lunch with Dr. Furukawa and Mr.Fukushima today, but they were headed south and would be, I surmise, talking with a potential business partner.
Investing in or partnering up with IThEMS would certainly have its risks. The upside for the investor would be to make a ground floor investment for a potentially huge Molten Salt Reactor market. The down side is that IThEMS is basically a start up with no money and no resources. All it really has is an idea and Dr. Furukawa's name.
The Mini-Fuji represents a potential opportunity for the American prototype development partner. First Dr. Furukawa's name does mean something and it offers an entry to a number of research laboratories in Japan, Russia, and Central and Western Europe. Participating in the Mini-Fuji prototype development would be a great opportunity for anyone who wanted to get into the Molten Salt Reactor business. Even if the Mini-Fuji failed as a business opportunity, the prototype development experience could prove invaluable for anyone who was interested in further MSR development.







