![[saltfoss-logo-v1-WG.png|300]] Company website: https://saltfoss.com/ ### Introduction Saltfoss Energy, formerly known as Seaborg Technologies until its rebranding in April 2025, is a Danish scale-up company specializing in advanced nuclear reactor technology. Founded in 2014 in Copenhagen by a group of physicists including co-founders Andreas Vigand Pedersen, Esben Klinkby, and Eirik Eide Pettersen, the company originated from a vision to address climate change through innovative nuclear solutions. Headquartered in Copenhagen, Denmark, with an additional office in South Korea, Saltfoss Energy's mission is to provide abundant, affordable, and low-emission energy by rethinking nuclear power to make it inexpensive, sustainable, and safe enough to out-compete fossil fuels and revolutionize global energy markets. The company's key focus areas include developing compact molten salt reactors (CMSRs) deployed on floating power barges for modular, factory-built deployment. This approach emphasizes inherent safety, reduced environmental impact, and applications in emerging markets, particularly in Asia and regions with limited grid infrastructure. Saltfoss has expanded its team to around 100 employees, secured strategic partnerships for manufacturing and operations, and is advancing toward commercialization, with initial deployments targeted for the early 2030s amid growing interest in small modular reactors (SMRs) for decarbonization. ### Key Products and Technology - **Compact Molten Salt Reactor (CMSR)**: A next-generation nuclear reactor using molten fluoride salt as both fuel and coolant, where uranium fuel is dissolved in the liquid salt; this design operates at near-atmospheric pressure, eliminating high-pressure risks associated with traditional solid-fuel reactors. - **Power Output and Scalability**: Modular units produce 100 MWe each, with power barges configurable from 200 MWe (two reactors) to 800 MWe (eight reactors); operational lifetime of 24 years, with a 12-year fuel cycle where spent fuel is returned to the supplier for processing. - **Fuel and Efficiency**: Utilizes low-enriched uranium (LEU) or high-assay low-enriched uranium (HALEU) in molten salt form; focuses on resource efficiency with low waste production, potential to reuse nuclear waste, and closure of the fuel cycle; achieves competitive kilowatt-hour pricing through simplified design and factory production. - **Safety and Design Features**: Inherently safe with no meltdown or explosion risk—fuel salt solidifies into a stable rock if exposed to air, containing radioactivity; passive shutdown in emergencies without active intervention; floating barge deployment reduces on-site construction, enhances transportability via shipyards, and provides resilience to natural disasters. - **Applications**: Baseload electricity for grids and remote areas; desalination for clean water production; district heating and cooling; generation of carbon-neutral hydrogen, synthetic fuels, and fertilizers; ideal for integration with renewables in hybrid systems or powering industrial processes in developing regions. ### Team and Leadership - **Klaus Nyengaard, Chief Executive Officer**: Oversees strategy and commercialization; experienced entrepreneur with prior roles as CEO of Just Eat and chairman of Treatwell, focusing on scaling innovative technologies for global impact. [@KlausNyengaard](https://x.com/KlausNyengaard) - **Andreas Vigand Pedersen, Co-founder and Chief Technology Officer**: Leads reactor design and technical development; holds a PhD in physics and brings expertise in nuclear innovation from the company's founding research on molten salt corrosion control. - **Rasmus Bjengaard, Chief Business Officer**: Manages business development and international expansion; emphasizes market fit for CMSR technology in emerging economies. - **Mogens Bagger, Chief Financial Officer**: Handles financial operations and funding strategies; supports the company's growth through investor relations and fiscal planning. - **Peder Norborg, Chief Operating Officer**: Directs operations and supply chain; ensures efficient R&D and manufacturing processes. - **Shineyoung Kang, Managing Director, Saltfoss Korea**: Oversees Asian operations and partnerships; facilitates collaboration with Korean entities for barge production and deployment. - **Other Key Leaders**: Include Chairman Niels de Coninck-Smith, appointed in February 2025 to strengthen governance, and board member Jacob Bundsgaard, former mayor of Aarhus, added in April 2025 for policy and regional expertise; the team blends nuclear physics, engineering, and business acumen to advance commercialization. ### Recent News and Developments (2025) | Date | Event | Details | | ------------- | -------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | June 22, 2025 | Mention in Thorium Nuclear Energy Discussion | Highlighted in Danish social media for similarities to Chinese thorium breakthroughs, noting Saltfoss's molten salt technology and export focus due to Denmark's nuclear restrictions. | | May 27, 2025 | Featured as SMR Startup in Global Overview | Listed alongside [[Oklo]], [[TerraPower]], and others in Japanese analysis of SMR developers attracting big tech investments for data center power. | | May 20, 2025 | GPSC Visits Korea for SMR Feasibility Study | Thai energy firm GPSC met with Saltfoss executives and partners Samsung Heavy Industries to advance a four-year pre-feasibility study on deploying CMSR power barges, targeting 2035 completion. | | May 3, 2025 | CEO Calls for Nuclear Debate in Denmark | Klaus Nyengaard emphasized missing elements in Denmark's nuclear policy discussions, advocating for reconsideration of domestic deployment in Berlingske interview. | | April 9, 2025 | Rebranding to Saltfoss Energy Announced | Official name change from Seaborg Technologies to reflect molten salt focus; highlighted consortium with Samsung Heavy Industries and Korea Hydro & Nuclear Power for factory-produced floating plants by early 2030s. | | April 3, 2025 | Name Change and Board Addition | Rebranded to Saltfoss Energy, added former Aarhus mayor Jacob Bundsgaard to board; GPSC provided update on joint feasibility study for Thai deployment. | ### Partnerships and Collaborations - **Samsung Heavy Industries (SHI)**: Long-term partnership since 2022 for developing and manufacturing floating CMSR Power Barges; enables centralized shipyard production for scalability and cost efficiency. - **Korea Hydro & Nuclear Power (KHNP)**: Part of a consortium with SHI and Saltfoss to operate the first CMSR plants in the early 2030s; provides expertise in nuclear operations and regulatory compliance. - **Global Power Synergy Public Company Limited (GPSC, Thailand)**: Ongoing four-year pre-feasibility study initiated in 2021, with 2025 site visits to Korea; explores economic viability and deployment of power barges following IAEA SMR safety guidelines, targeting operations by 2035. - **Urenco Group**: Collaboration on developing high-assay low-enriched uranium (HALEU) capacity for future CMSR fuel lines, while investigating low-enriched uranium (LEU) options for initial products. - **Various Suppliers and R&D Partners**: Engaged with a network for component supply and research, emphasizing sustainable practices; includes potential co-development opportunities outlined in the company's Supplier Code and General Purchasing Conditions. ### Closing Note Having raised approximately $57.6 million from investors including Unruly Capital, European Innovation Council, Heartland, Investbridge Capital, M.I.L. Invest, and North-East Venture, Saltfoss Energy is in the scale-up and pre-commercialization stage, with a promising outlook for deploying its first CMSR power barges in the early 2030s through strengthened partnerships and regulatory progress. *Report generated August 04, 2025*