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.

Don Gillispie, CEO and chairman of AEHI, said: “I am extremely excited and honored to be a partner with Hyperion and its equally impressive 25Mwe 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.”

John Deal, CEO of Hyperion, said: “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.”