ThorCon US
- Company typePrivate
- Founded2015
- HeadquartersCheyenne, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
ThorCon US firmographics
Firmographics- 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
ThorCon US industry classification
Industry- 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
Where ThorCon US is headquartered
LocationHeadquarters
- HQ city
- Cheyenne
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
ThorCon US business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | First-of-a-Kind (FOAK) 500MW Plant - Target electricity price |
| Other | Multi-year contract | Nth-of-a-Kind (NOAK) Additional Units - Target electricity price |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
ThorCon US product offering
Product offeringCore 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
Companies that use ThorCon US
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
ThorCon US technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
ThorCon US partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and supporting.
- Bandung Institute of Technology (ITB) and PT Aimtopindo Nuansa Kimia (ANK)coreThorCon 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)coreOn 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)supportingThorCon 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 LaboratorycoreThorCon 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 MultiphysicscoreMilano 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 TechsupportingVirginia 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 BerkeleysupportingUC 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 LaboratorycoreArgonne 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)coreEmpresarios 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 VeritascoreInitially 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 EnjiniringsupportingPLN 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 EngineeringsupportingUGM Engineering Research and Innovation Center collaborated on ThorCon's proposal to National Energy Council, providing technical research support.
- Bangka Belitung University (UBB)supportingLocal university in the proposed plant region collaborated on ThorCon's proposal, providing regional stakeholder engagement support.
- Pacific Northwest National LaboratorycoreEarly 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
ThorCon US competitors and assessment
Company assessmentBroad 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
ThorCon US social profiles
Digital presenceThorCon US financial estimates
Financial estimateRevenue estimate
Valuation estimate
ThorCon US leadership team
Management profileNumber of profiles
Profiles8 records
ThorCon US subsidiaries and ownership
Company hierarchySubsidiaries1 record
ThorCon US funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ThorCon US M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ThorCon US
What does ThorCon US do?
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.
Is ThorCon US a public or private company?
ThorCon US is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ThorCon US founded?
ThorCon US was founded in 2015. It employs 1 to 10 people.
Where is ThorCon US based?
ThorCon US is headquartered in Cheyenne, United States, in the North America region.
How does ThorCon US make money?
Two revenue lines are on record. Electricity Sales (IPP Model) is the primary driver. The others are direct Power Purchase Agreements.
Who are ThorCon US's main competitors?
Broad incumbents on record are NuScale Power, Rolls-Royce SMR and Westinghouse Electric Company. Bureau Veritas Nuclear is listed as an others. Direct peers are Moltex Energy, Terrestrial Energy, TerraPower, Kairos Power and X-energy. Bangka Belitung Provincial Government (Indonesia site host) is listed as a regional player.
Does ThorCon US have an API?
No public API is recorded for ThorCon US.
What industry is ThorCon US in?
ThorCon US's product category is Nuclear Power Generation. Its primary akta.pro industry code is EUAKADAC, Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors), with a secondary code of EUAKADAJ, Containment, Civil Structures & Modular Construction Systems. Its NAICS code is 221113 and its SIC code is 3510.