Denmark-based Seaborg Technologies has been renamed Saltfoss Energy. The new name is intended to reflect the company’s molten salt technology, which is based on flowing salt to create energy at a massive scale. In Old Norse, the word “foss” is used to describe a powerful waterfall.
In addition, Jacob Bundsgaard is to be appointed as a new board member. Bundsgaard is the former mayor of Aarhus, the second-largest city in Denmark. “We are very happy to welcome Jacob to the board. He will be a strong addition to the team, complementing the board members we have added over the last year,” said Niels de Coninck Smith, Chairman of Saltfoss Energy.
“With money in the bank, a strengthened organisation and a new board, we are excited to move to the next phase of our development,” said Saltfoss CEO Klaus Nyengaard.
The Saltfoss design utilises low-enriched uranium (LEU) and does not rely on breakthrough materials innovation. Together with Samsung Heavy Industries and Korea Hydro & Nuclear Power, Saltfoss Energy has established a strong consortium to enable manufacturing of factory-produced floating NPPs. The scalability is secured through centralised manufacturing at the shipyard of Samsung Heavy Industries and the first plant is expected to be operated by Korea Hydro & Nuclear Power in the early 2030s.
