OAKVILLE, Ontario, Dec. 21, 2017 (GLOBE NEWSWIRE) — Terrestrial Energy, a leading advanced reactor developer, is pleased to announce the addition of two directors to its Board – James Reinsch and Frederick Buckman. Both are experienced nuclear engineering and utility industry professionals, and have been serving on Terrestrial Energy’s Advisory Board for a number of years.
Mr. Reinsch formerly served as the President of Bechtel Nuclear. He currently serves on the Board of Directors of OPG, and the Committee on Nuclear Power (CNP), reporting to the Board of Emirates Nuclear Energy Corporation. Dr. Buckman is formerly President and CEO of The Shaw Group (now part of CB&I), and of PacifiCorp. He currently serves as President and CEO of Powerlink Transmission Company.
“With the successful completion, announced last month, of Canadian Nuclear Safety Commission’s Phase I Vendor Design Review, Terrestrial Energy is now in a leadership position in the advanced reactor technology sector, and focused firmly on further growth,” said Simon Irish, CEO of Terrestrial Energy. “Jim and Fred bring a long, accomplished and impressive set of career experiences to guide Terrestrial Energy as its moves forward with its growth plans to bring its Integrated Molten Salt Reactor power plant design to market.”
Fred Buckman’s career spans five decades and a long list of executive positions and accomplishments. Dr. Buckman’s past positions include the following: President of Power Group of The Shaw Group Inc. He continues to serve as Chairman, President and Chief Executive Officer of Powerlink Transmission Company. He was Chief Executive Officer and President of PacifiCorp from 1994 to 1998, where he transformed the company from a regional utility to a significant national and international energy company that was sold to MidAmerican Energy in 2005 for $5.2 billion. He also served as President and Chief Executive Officer of Consumers Power Company (now known as Consumers Energy), the utility subsidiary of CMS Energy from 1988 to 1994.
Dr. Buckman continues to hold several directorships of leading energy companies, including: General Fusion Inc. (Chairman), and Smart Wires and Solomon corporation. He is also a member of the StanCorp Financial Group Board. Dr. Buckman is the Adjunct Professor of Nuclear Engineering at University of Michigan. He completed Harvard Business School’s Advanced Management Program in 1982. He received a bachelor’s degree in engineering from University of Michigan and a doctorate in nuclear engineering from Massachusetts Institute of Technology.
James Reinsch ranks among the most distinguished and capable executives in the field of nuclear power project management. During his many years with Bechtel, he directed the company’s global nuclear operations, presided over Bechtel Canada Company, and managed large regions in the United States and Asia.
Mr. Reinsch served as the President of the American Nuclear Society in 2005-2006. He was a member of the board of directors of the Nuclear Energy Institute, as well as a member of their executive committee. Mr. Reinsch formerly served on the board of directors of Duke Energy. Duke owns and operates eight nuclear power stations and is one of largest electric power utilities in the United States. He also serves on the Committee on Nuclear Power (CNP) of Emirates Nuclear Energy Corporation (ENEC). ENEC has four nuclear power reactors under construction in the United Arab Emirates.
About Terrestrial Energy
Terrestrial Energy is a developer of advanced reactor power plants that use its proprietary Integral Molten Salt Reactor (IMSR®) technology. This technology represents true innovation in cost reduction, versatility and functionality. IMSR® power plants will provide clean, convenient, dispatchable and cost-competitive heat for many industrial applications, including electric power provision and heat for industrial processes, such as chemical synthesis and desalination. They extend the application of nuclear energy far beyond electric power markets. IMSR® power plants promise to transform industrial competitiveness, energy security, and drive economic growth. Their deployment can realize rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum. Using an innovative design, and proven and demonstrated Molten Salt Reactor technology, Terrestrial Energy plans to bring IMSR® power plants to markets in the 2020s.
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