Peregrine is now in collaboration with Ultra Safe Nuclear Corp (USNC) for the development of an advanced nuclear micro modular reactor for distributed power generation. It will be the first of its kind and will demonstrate safe, carbon-free power generation for small communities, industrial operations, and disaster relief applications. Derivations of this design are also targeted for future lunar power applications and space propulsion technology.

USNC is developing an advanced reactor that will be tested at Idaho National Labs in their Dome facility and Peregrine will provide the power conversion technology that will be integrated for that test, and for future commercial offerings of the resulting design. This power conversion system will be the one recently tested in the Peregrine Labs here in Wiscasset. And to head off any concerns, rest assured that Peregrine has not and will not be handling or dealing with any radioactive materials of any kind here in Wiscasset. Our scope is limited solely to the power conversion equipment and not the reactor.

We are excited to be the only company in the world offering advanced power conversion technology to be integrated with advanced reactors as well as biomass-fired systems and long duration energy storage and are courting multiple other players in each of these arenas. We will be making an announcement of another collaboration in the next couple of weeks for a biomass-fired demonstrator that will be located here in Maine, and which will produce power for a business park being developed at a former paper manufacturing plant site.