MONTREAL — L3Harris Technologies (NYSE:LHX) has been awarded the 2021 Innovation Award for a first-of-a-kind simulator by the Organization of Canadian Nuclear Industries (OCNI), the country’s leading nuclear supply chain trade association.
L3Harris delivered the innovative simulator to Terrestrial Energy to support its Generation IV Integral Molten Salt Reactor (IMSR) power plant in Canada. L3Harris’ engineers pushed technology boundaries to create the real-time simulation of the IMSR power plant, which features L3Harris’ foundational ® technology.
“We are delighted to see another Canadian innovator and global leader in their field recognized by OCNI,” said Simon Irish, CEO of Terrestrial Energy. “L3Harris’ innovative work supports the commercialization of our Generation IV IMSR nuclear power plant, an SMR that generates electric power 50% more efficiently than today’s reactor technology for clean, resilient, cost-competitive nuclear power.”
Unlike conventional nuclear power plants that use solid nuclear fuels and water, the IMSR power plant simulator models liquid nuclear fuel and molten salts that move through the reactor. The simulator demonstrates the IMSR power plant’s potential as a clean energy source and cost-competitive alternative to fossil fuel combustion.
“It is an honor that OCNI has recognized the innovative work that has gone into developing a simulator for technology that is positioned to play a lead role in fighting climate change, both in Canada and internationally,” said Rangesh Kasturi, President, Maritime International, L3Harris. “We value the trust Terrestrial Energy has placed with us to deliver on this exciting project.”
L3Harris’ Montreal operations have nearly five decades of global experience simulating nuclear power plants. The company provided the first simulators for Canadian CANDU power plants and is now providing the first simulators for Canada’s IMSR power plants.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about system capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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