ThorCon US

Name

ThorCon US

Legal name

Thorcon

Website

https://thorconpower.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Nuclear Power Generation

NAICS

Nuclear Electric Power Generation (221113), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors) (EUAKADAC)

akta.pro secondary industries

Containment, Civil Structures & Modular Construction Systems (EUAKADAJ), Nuclear Plant EPC & Construction (EUAEAAAC), Nuclear Plant O&M Services (EUAEAGAC), Nuclear Steam Supply System Components & Turbine Islands (IMAHAFAG), Small Modular Reactor (SMR) Platforms & Balance-of-Plant Integration (EUAKADAA)

Keywords

• Molten salt reactor
• Nuclear power generation
• Modular nuclear plants
• Clean baseload power
• Advanced reactor technology

Headquarters

HQ city

Cheyenne

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Electricity Sales (IPP Model): ThorCon and partners will own, operate, commission and maintain plants, selling electricity as an Independent Power Provider to Indonesian state utility PLN. Target electricity price for first plant is less than 6.9 US cents per kWh, including waste management, decommissioning, and transmission to nearest PLN Extra High Voltage Substation.
2. Direct Power Purchase Agreements: Mining and other industrial and technology companies have approached ThorCon to establish direct power purchase agreements once the Kelasa plant is operational. Additional revenue stream from industrial customers seeking reliable baseload power.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

ThorCon US develops and builds modular, shipyard-constructed molten salt reactor (MSR) nuclear power plants—primarily the ThorCon 500, a 500 MWe plant with two 250 MWe replaceable sealed reactor modules. The company operates an Independent Power Producer model, owning, operating, commissioning, and maintaining the plants to sell electricity to state utility PLN in Indonesia, with additional direct power purchase agreements planned with mining and industrial customers.

Product overview

ThorCon US offers a single unified product: the Thorcon 500 molten salt reactor power plant. This is a 500MW shipyard-built nuclear power plant consisting of two 250MW reactor modules (called 'Cans') that are replaceable after eight years of operation. The plant uses proven molten salt reactor technology developed at Oak Ridge National Laboratory in the 1960s, operates at low pressure, and features inherent passive safety mechanisms. The modular shipyard-built approach enables faster construction (target of 12 months), cost competitiveness with coal, and global transportability by sea.

Differentiator

Problem solved

Functional benefit

Products and services

• ThorCon 500 A 500 MWe molten salt reactor (MSR) nuclear power plant consisting of two low-enriched-uranium-fueled 250 MWe reactors housed in two replaceable, sealed 'Cans'. Designed for modular shipyard construction using double-hull oil tanker techniques, featuring passive safety systems where liquid fuel automatically drains into cooling tanks in emergencies. Designed for sale or deployment as an Independent Power Producer to state utilities and industrial customers seeking clean baseload electricity.
• Electricity Supply (Independent Power Producer) Independent Power Producer electricity sales service. ThorCon and partners own, operate, commission, and maintain the ThorCon 500 plants, selling electricity to Indonesian state utility PLN under multi-year contracts. Pricing includes waste management, decommissioning, and transmission to nearest PLN Extra High Voltage Substation. Target price below 6.9 US cents per kWh—competitive with coal.
• Direct Power Purchase Agreements for Industrial Customers Direct Power Purchase Agreement (PPA) service for mining and industrial companies in Indonesia seeking reliable, cost-competitive baseload power independent of grid supply. Mining and other industrial and technology companies have approached ThorCon to establish direct power purchase agreements once the Kelasa plant is operational.

Quantifiable outcome

• 8.2 million tonnes of CO2 emissions mitigated annually per 1GW coal plant replaced
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

14 partnerships are on record, tiered core and supporting.

• Bandung Institute of Technology (ITB) and PT Aimtopindo Nuansa Kimia (ANK)coreStrategic or Co-development Partner · 27 May 2025ThorCon entered strategic MoU on May 27, 2025 with ITB and PT Aimtopindo Nuansa Kimia to establish Liquid Salt Fuel Laboratory. Focus on research and testing related to molten salt reactor fuel, purification techniques, and human resource capacity through joint research and specialized training.
• Nuclear Energy Regulatory Agency (BAPETEN)coreStrategic or Co-development Partner · 19 May 2025On May 19-20, 2025, ThorCon and BAPETEN signed updated Terms of Reference for Phase 3 consultations on Safety, Security, and Safeguards (3S). Reinforces ThorCon's commitment to regulatory compliance and safety standards for licensing of initial 500MW plant. BAPETEN spent three years evaluating ThorCon's design leading to pre-licensing agreement in 2023.
• Universitas Sebelas Maret (UNS)supportingStrategic or Co-development Partner · 22 March 2025ThorCon renewed MoU with UNS on March 22, 2025, strengthening collaboration from 2021. Partnership supports public engagement activities including Phase II Public Acceptance Survey to assess public perception of nuclear power plant development.
• Oak Ridge National LaboratorycoreTechnology or Integration · 1 November 2024ThorCon works with Oak Ridge National Laboratory on molten salt reactor technology development. Oak Ridge held annual developer meetings where ThorCon presented status updates. The technology is based on Oak Ridge's 1960s Molten Salt Reactor Experiment. Oak Ridge's validation and expertise is foundational to ThorCon's design credibility.
• Milano MultiphysicscoreTechnology or Integration · 1 November 2024Milano Multiphysics uses advanced software tools to design and analyze reactor heat flows, materials effects, and nuclear physics. They validated burn rates and joined the design team after initial evaluation. Developed new header tank design for better xenon separation.
• Virginia TechsupportingTechnology or Integration · 1 November 2024Virginia Tech experts in molten salt chemistry analyzed interaction of fuel-bearing molten salt with graphite neutron moderator. Working to scale up purification of fluoride salts of sodium, beryllium, and uranium.
• University of California at BerkeleysupportingTechnology or Integration · 1 November 2024UC Berkeley faculty and students built and operated laboratory equipment to measure physical properties of ThorCon molten salt as temperatures increase. Their viscosity measurements confirm designed pump power is adequate.
• Argonne National LaboratorycoreTechnology or Integration · 1 November 2024Argonne National Laboratory works with ThorCon management on Safeguards by Design to block nuclear terrorism. Design includes high-hazard common barrier around all fission fuel and products with measurement and control during fuel preparation, transport, refueling, and maintenance.
• Empresarios Agrupados (EA)coreTechnology or Integration · 1 November 2024Empresarios Agrupados conforms ThorCon design work to established systemic manufacturing specifications acceptable to suppliers and regulators. EA's experience developing 60 GW of power plants in 40 countries enables mass production of standardized 500 MW plants. Initially engaged as independent evaluator but became partner due to confidence in design.
• Bureau VeritascoreTechnology or IntegrationInitially engaged as independent evaluator but became partner due to confidence in ThorCon's design. Bureau Veritas is a leading nuclear engineering firm providing regulatory compliance and safety assessment expertise.
• PT PLN EnjiniringsupportingStrategic or Co-development PartnerPLN Enjiniring collaborated with ThorCon on proposal to National Energy Council for Indonesia's first nuclear power plant. Part of stakeholder engagement for project development.
• Gadjah Mada University (UGM) School of EngineeringsupportingStrategic or Co-development PartnerUGM Engineering Research and Innovation Center collaborated on ThorCon's proposal to National Energy Council, providing technical research support.
• Bangka Belitung University (UBB)supportingStrategic or Co-development PartnerLocal university in the proposed plant region collaborated on ThorCon's proposal, providing regional stakeholder engagement support.
• Pacific Northwest National LaboratorycoreTechnology or IntegrationEarly review by Pacific Northwest National Lab in 2012 confirmed the reactor's criticality and stability, providing early validation of ThorCon's design.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• NuScale Power: Publicly traded SMR developer (light-water based VOYGR design, 77 MWe per module) that received the only NRC-certified SMR design in the U.S. Comparable as a competing SMR/advanced reactor platform chasing the same baseload decarbonization market, with the advantage of NRC design certification and significant public-market capital.
• Rolls-Royce SMR: UK-based SMR developer with a 470 MWe light-water SMR design selected for Great British Nuclear's first project and pursuing international deployment. Comparable as a factory-built modular nuclear concept competing for the same Southeast Asian and emerging-market customers ThorCon targets.
• Westinghouse Electric Company: Established global nuclear OEM and operator of the AP1000 (Gen III/III+ PWR) with multiple reference plants and a deep engineering, fuel, and services portfolio. Comparable as the dominant incumbent nuclear EPC that ThorCon's shipyard construction model must displace, and a competitor for limited nuclear-grade manufacturing and engineering talent.

Others

• Bureau Veritas Nuclear: Independent nuclear engineering, verification, and regulatory compliance firm that is a strategic partner of ThorCon. Comparable as a nuclear technical advisor and engineering services provider, illustrating the types of incumbents that ThorCon depends on for design validation and licensing engagement.

Direct peers

• Moltex Energy: UK/Canada-based developer of the Stable Salt Reactor — a molten salt reactor concept targeting 300 MWe modules and small modular deployment. Comparable as a private MSR developer pursuing commercial licensing with national lab partnerships and similar cost-competitive positioning vs fossil fuels.
• Terrestrial Energy: Canadian developer of the Integral Molten Salt Reactor (IMSR), a fluoride-salt-cooled reactor using solid TRISO fuel. Closest direct competitor to ThorCon in MSR commercial development, with similar cost-competitive baseload electricity targeting industrial customers and active engagement with regulators in Canada, the U.S., and the UK.
• TerraPower: Bill Gates-backed advanced reactor developer pursuing a Natrium sodium-cooled fast reactor in Kemmerer, Wyoming, with construction underway and a 345 MW demonstration plant. Most directly comparable to ThorCon as a private advanced reactor developer pairing novel reactor technology with an aggressive commercialization timeline and major strategic partners.
• Kairos Power: Developer of the Kairos Power FHR (fluoride salt-cooled high-temperature reactor) using TRISO fuel in FLiBe molten salt, pursuing the Hermes test reactor in Oak Ridge. Directly comparable to ThorCon as a molten-salt-based advanced reactor developer with deep national lab ties (ORNL) and a staged FOAK-to-commercial path.
• X-energy: Developer of the Xe-100 high-temperature gas-cooled microreactor (80 MWe per unit, 4-pack to 320 MWe), pursuing commercial deployment with Dow and supported by Carlyle-led financing. Comparable as a private Gen IV SMR developer targeting industrial off-takers and industrial process heat, with a similar project-finance heavy business model.

Regional players

• Bangka Belitung Provincial Government (Indonesia site host): Provincial government of the Bangka Belitung Islands where ThorCon's first 500MW Kelasa Island plant is sited. While not a peer in the traditional sense, it is a key regional counterpart stakeholder for ThorCon's first project and indicative of the type of regional government counterpart ThorCon must cultivate for future SE Asia deployments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/thorcon

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ThorCon US