Skip to content
Subscriber Only
Markets
Economics

How New Nuclear Could Lift Renewables at a Third of Hinkley Cost

  • Moltex stable salt reactor reducing costs with safer design
  • Company seeks $30 million to verify design with regulators

A former chief scientist for one of the world’s biggest consumer-goods companies says he can make nuclear power cheaper and safer and wants $30 million so that he can prove it.

After working 25 years at Unilever Plc, Ian Scott came out of retirement in 2013 to found Moltex Energy LLP. Three years later, the biochemist says he’s come up with an atomic-reactor design that produces more power for less money than standard pressured-water unit like the ones planned at Hinkley Point in Somerset, England.