Alabama city says $232 million nuclear reactor project ‘on hold’
A prospective $232 million reactor assembly plant in Gadsden, proposed by Ultra Safe Nuclear Corp, is currently on hold due to the company’s Chapter 11 bankruptcy proceedings. Initially announced in June 2023, the facility was intended to enhance the company’s deployment of Micro Modular Reactor (MMR) systems across the U.S. and Canada, as well as meeting defense project commitments for U.S. government agencies. Gadsden city officials expressed continued support for the project, emphasizing their dedication to bringing jobs and industry to the area despite the current pause.
The bankruptcy decision followed the passing of Richard Hollis Helms, Ultra Safe’s major investor with roughly $100 million invested and an additional $25 million loaned. As a result, the operational timeline for the assembly plant has come into question, with officials previously projecting that it would begin operations by 2027.
The micro-modular reactors are designed to function like “fission batteries,” with the capacity to generate electricity without the need for water or a traditional electrical grid. The Gadsden plant is planned to manufacture around 10 non-radiological modules annually, which would later be transported to construction sites for the integration of radioactive materials. According to the company, the facility will not store or handle radioactive substances on-site, alleviating safety concerns during its operation. As court proceedings continue, officials remain hopeful for the project’s eventual revival.
Read the complete article here: https://www.al.com/news/birmingham/2024/12/alabama-city-says-232-million-nuclear-reactor-project-on-hold.html
