MARLTON, N.J.--(BUSINESS WIRE)--Holtec International is pleased to announce that the proof-of-principle studies on Holtec's 140 MWe (Min.) modular reactor that began a year ago have been successfully completed. The new reactor is named HI-SMUR 140, derived from Holtec Inherently Safe Modular Underground Reactor. As the above words in HI-SMUR's name indicate, its core is located completely underground, it is operated by gravity induced flow (no reactor coolant pump), it does not rely on off-site power for shutdown (Inherently Safe), and it can be installed as a single unit or a cluster at a site (Modular). Passive in every aspect of its operation, HI-SMUR's principal technical mission is "safety and security first." HI-SMUR’s principal safety credentials derive from locating the core underground in a reactor vessel that has no penetrations to provide a drain-down path for the reactor coolant. Eliminating the reactor coolant pump and the need for emergency or off-site power to cool the reactor core in the event of a forced shutdown, are among the distinguishing design features of HI-SMUR that define its mission of utmost safety and security. Other major features of HI-SMUR are its small footprint, minuscule site boundary dose, large inventory of coolant in the reactor vessel and its modularity, i.e., the freedom to build the number of units at a site to best suit the owner's projected power needs. The expected duration of the construction life cycle is 24 months.

The annex 140 in HI-SMUR’s name indicates the electric output at full power under adverse heat sink conditions. The waste heat from HI-SMUR's power generation can be rejected through a water cooled or air cooled condenser or a combination thereof. Thus, HI-SMUR is not only a clean source of energy; it is also eco-friendly.

Practically all capital equipment for HI-SMUR will be shop manufactured. The site construction will principally consist of reinforced concrete structures, electrical, I&C, and component assembly work. We expect HI-SMUR to create a number of new white and green collar jobs across the U.S. through the Company's supplier chain and in the Holtec shops located in Pittsburgh, Pennsylvania; Orrville, Ohio; and Lakeland, Florida. A similar boost in local employment will occur in the countries that invite the HI-SMUR technology into their power generation mix.

On January 3, 2011, the HI-SMUR development program was transferred from Holtec International to a newly established Holtec company, SMR, LLC. The development of HI-SMUR does not rely on external funding from any private, public, or government source. The program is sufficiently funded to carry out detailed design, analyses, licensing, and other activities to bring the program to the pre-construction phase, ensuring that SMR, LLC will not be hobbled by lack of capital. A number of prominent suppliers of nuclear technologies and systems from around the globe have been selected to support the HI-SMUR program. An array of patents based on a provisional filing in February 2010 are now being submitted for intellectual property protection under U.S. and international patent and trademark laws. License application is scheduled to be filed by the close of 2012.

Holtec International is a diversified energy technology company with its world headquarters in Jupiter, Florida and corporate technology center in Marlton, New Jersey. Holtec is widely recognized as a global leader in the technologies to store and transport nuclear fuel and as a provider of capital equipment and services to commercial power plants.