Alternate Energy Holdings, Inc. Signs MOU With Hyperion Power to Manufacture Small, Modular Nuclear Reactors in China and Market World-Wide

Partnership to Open Untapped Opportunities in Commercial Nuclear Power

BOISE, Idaho, June 14, 2010 (GLOBE NEWSWIRE) — Alternate Energy Holdings, Inc. (OTCQB:AEHI) today announced the signing of a memorandum of understanding with New Mexico-based Hyperion Power Generation, Inc. The MOU is the beginning of a joint venture between the two companies to license, build and market Hyperion’s refrigerator-sized modular nuclear reactors on a world-wide basis.

“I am extremely excited and honored to be a partner with Hyperion and its equally impressive 25 Mwe Hyperion Power Module. It is one of the most innovative products I’ve seen in my 46 years in the nuclear industry. Because of its small size the power plant’s applications are limitless and could fuel a huge variety of important facilities including: hospitals, desalinization plants, emergency facilities, industrial parks, factories, military bases, and even small towns for many years. Because of its innovative and exclusive design, Hyperion’s technology can even open up applications that no other production reactor can perform.   Our partnership will make it possible to market the product internationally, and to locate specific applications in the United States,” said Don Gillispie, AEHI CEO and Chairman.

“We chose AEHI to assist us in this endeavor because the company is independently operated, has unprecedented connections in the international community, especially in China, and is headed up by some of the most well-known and respected individuals in the nuclear industry. If there is one company that has the ability to successfully place the Hyperion product in the international spotlight, it is AEHI,” said John R. “Grizz” Deal, Hyperion CEO.

Read more: Globe Newswire

Small & modular nuclear power reactors by Hyperion Power

Small & modular nuclear power reactors (SMR) by Hyperion

According to John “Grizz” Deal, CEO of Hyperion, more than a hundred letters of interest to purchase the HPM have come in from communities and industries on every continent. Conceived at LANL, the Hyperion Power Module (HPM) was licensed exclusively to Hyperion Power Generation Inc. in 2008. The HPM, developed by Otis Peterson, Turner Trapp, and Patrick McClure, uses the energy of low-enriched uranium fuel and meets all the non-proliferation criteria of the Global Nuclear Energy Partnership.

Each unit will produce 70 megawatts or 27 megawatts electric—enough to provide electricity for 20,000 average American-sized homes or the industrial equivalent. Approximately 1.5 meters (slightly less than 6 feet) wide by 2 meters tall (slightly over 6 feet), the units can be transported by ship, rail, or truck to produce power for five to seven years depending on usage.

Manufacturers of refrigerator-sized nuclear reactors will seek approval from U.S. authorities within a year to help supply the world’s growing electricity demand.

John Deal, chief executive officer of Hyperion Power Generation Inc., intends to apply for a license “within a year” for plants that would power a small factory or town too remote for traditional utility grid connections.

With some of the new non-light water SMRs, such as the Hyperion Power Module, the customer does not have to deal with spent fuel because the reactor is shipped to the customer and back to the factory as a sealed, intact unit.

Source: Examiner.com