Terrestrial Energy Names Former CEO of TVA and PG&E to Board of Directors

OAKVILLE, Ontario, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Terrestrial Energy, an advanced nuclear technology company, has appointed William “Bill” Johnson, former President and Chief Executive Officer of the Tennessee Valley Authority and Pacific Gas and Electric, to its Board of Directors. Mr. Johnson is a prominent energy industry executive with extensive experience in the electric and nuclear utility sectors. Terrestrial Energy is developing a nuclear power plant using proprietary Integral Molten Salt Reactor (IMSR) fission technology for zero-carbon industrial cogeneration.

Bill Johnson

“There are unbreakable links between fission technology choice and power plant design, and market relevance and economic value. Terrestrial Energy’s IMSR plant uses molten-salt technology to deliver high-temperature heat required for many industrial applications, and the plant is designed with the flexibility to adapt to a wide range of industrial cogeneration needs,” Johnson said. “I look forward to serving on Terrestrial Energy’s board at this exciting time as the company deepens its market engagements.”

“Bill has spent many years as an executive leader in the energy, utility and nuclear sectors, and brings valuable insights as the company scales up market activities,” said Simon Irish, CEO of Terrestrial Energy. “With targeted innovations the IMSR plant is transformative, designed to deliver cost-competitive and carbon-free energy to the industries that make the many materials of our modern world. We are pleased to welcome Bill as an independent director to our Board.”

In addition to his roles at TVA and PG&E, Mr. Johnson previously was Chairman, President and CEO of Progress Energy. He has served as officer and director for multiple leading energy companies and currently serves on the board of directors of TC Energy and NiSource.

Mr. Johnson has served on the boards of energy industry groups or associations including Edison Electric Institute, Nuclear Energy Institute, Institute of Nuclear Power Operations, World Association of Nuclear Operators and Nuclear Electric Insurance Limited. He holds a law degree from the University of North Carolina School of Law and a bachelor’s degree in history from Duke University.

About Terrestrial Energy

Terrestrial Energy is developing for near-term commercial operation a zero-emissions cogeneration plant for global industry using its proprietary Integral Molten Salt Reactor (IMSR) fission technology in an innovative, small and modular plant design. The IMSR is a non-Light Water Reactor of the Generation IV class that operates at the high temperature required for broad industrial relevance with transformative economic potential. The IMSR plant is capable of grid-based electric power generation and industrial cogeneration in many energy-intensive industries, including petrochemical and chemical synthesis for hydrogen and ammonia production. The IMSR plant offers a near-50 percent improvement in efficiency of electric power generation compared to Light Water Reactor nuclear plants. Its industrial cogeneration capability delivers to today’s markets industrial competitiveness, security of energy, and zero-emissions industrial production. The IMSR plant’s use of existing industrial materials, components, and fuels supports its near-term deployment, setting the stage for a rapid global decarbonization of the primary energy system.

E-mail: info@terrestrialenergy.com

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed10fa3b-36d9-493b-a1e5-1e5184ae5446


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