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Summary:

The idea of nuclear-in-a-box sounds like a joke, but investors and potential customers are taking Hyperion Power Generation very seriously — the company is valued at a whopping $100 million by investors, according to the Denver Post. The company is backed by Altira Group, and though […]

hyperionlogosmallThe idea of nuclear-in-a-box sounds like a joke, but investors and potential customers are taking Hyperion Power Generation very seriously — the company is valued at a whopping $100 million by investors, according to the Denver Post. The company is backed by Altira Group, and though Hyperion hasn’t disclosed how much financing it has raised to date, CEO John “Grizz” Deal told us he is looking to raise a Series B round of funding, with plans to raise a Series C in about two years.

Although nuclear power produces radioactive waste, it doesn’t release greenhouse gases and it has vocal supporters in the new administration, including Energy Secretary Steven Chu. So it’s not so far-fetched for investors to see the potential of Hyperion’s nuclear option.

But the valuation is really high for a risky, unproven technology that is a good five years from putting the first device in the ground. While the technology itself was developed at government lab Los Alamos National Laboratory in New Mexico, the biggest hurdle could be regulatory. A spokesman for the Nuclear Regulatory Commission told the Post that the certification and approval process of the device itself will take “several years.” When Hyperion pitched a group of investors last October at a conference, by far the most questions were about how the devices would “pass regulatory hurdles.” And the question of finding a regulated, appropriate location to store the waste could be another stumbling block.

Despite the hurdles, Hyperion has some lofty goals for its nuclear-in-a-box modules. It’s aiming to build several factories around the world to produce a first batch of 4,000 units. The transportable nuclear modules, each with a price tag of about $25 million, are expected to pump out 70 megawatts of heat and 25 MW of electricity via a steam turbine, targeting off-the-grid applications and developing countries where there isn’t a dependable electric grid.

The company signed up its first customer last August, Romania’s TES Group, which signed a letter of intent to buy six nuclear modules. And Hyperion said if TES likes what it sees, it could be in the market for another 50 of the tiny nuclear generators.

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By David Ehrlich

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  1. kent beuchert Monday, May 18, 2009

    I recently read an article that proves their is no sucj thing as nuclear waste. In fact, a conceptualized hybrid fusion/fission reactor could not only squeeze those last megawatts of power from the so-called waste but also destroy the material completely in the process. Poof! No more nuclear waste (really, spent fuel). The “nuclear waste” avaiable today can also be reprocessed as the French have done for years – all of what’s left (which isn’t very radioactive) has been
    stored in a relatively small area – 50 years worth of
    spent nuclear fuel.

  2. Not your Father’s Utility Company « Askthefm’s Weblog Monday, May 18, 2009

    [...] is that someday soon there might be neighborhood nuclear power stations. The story on Eart2Tech (http://earth2tech.com/2009/05/18/hyperion-has-a-100m-valuation-for-mini-nuclear-power/) goes a long way to dispelling this a joke.  I know what I think when someone says nuclear power, [...]

  3. PoliteTalk.com Tuesday, May 19, 2009

    [...] Earth 2 Tech reports the valuation of “nuclear battery” maker Hyperion at $100 million. Hyperion has some lofty goals for its nuclear-in-a-box modules. It’s aiming to build several factories around the world to produce a first batch of 4,000 units. The transportable nuclear modules, each with a price tag of about $25 million, are expected to pump out 70 megawatts of heat and 25 MW of electricity via a steam turbine, targeting off-the-grid applications and developing countries where there isn’t a dependable electric grid. [...]

  4. T. Bones pickens quits the his widmill project. – VolNation Wednesday, July 8, 2009

    [...] [...]

  5. This is the second time I’ve heard anyone mention the
    fact that nuclear waste is not waste , but can be used
    again. I’ll pass it along ,and if you happen to find
    any more articles on the subject please post again.

    My sons are into global warming , my self I believe God
    cannot be out done by mortals.

  6. 6 Nuclear Power Startups To Watch Tuesday, February 16, 2010

    [...] it’s still on the hunt for a Series B round of funding, Hyperion has been valued at $100 million by its investors, and has plans to open factories capable of churning out about 4,000 units in the coming years. Of [...]

  7. 6 Nuclear Power Startups To Watch – GigaOM Tuesday, February 16, 2010

    [...] it’s still on the hunt for a Series B round of funding, Hyperion has been valued at $100 million by its investors, and has plans to open factories capable of churning out about 4,000 units in the coming years. Of [...]

  8. 6 Nuclear Power Startups To Watch via Earth2Tech « Mash'd! Tuesday, February 16, 2010

    [...] it’s still on the hunt for a Series B round of funding, Hyperion has been valued at $100 million by its investors, and has plans to open factories capable of churning out about 4,000 units in the coming years. Of [...]

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