Hyperion Power Generation Inc. has changed its name to Gen4 Energy, Inc., CEO Robert Prince announced today in a release.
"As a natural follow through to the evolution of the company over the last year, the name Gen4 Energy more accurately describes the focus of the company, the first product being developed, and the needs of the market we intend to address," Prince said.
The Gen4 Module (formerly the Hyperion Power Module) is a small next generation nuclear power reactor that will not require refueling during its 10-year operational lifetime, as well as no on-site access to nuclear fuel, which reduces safety and proliferation concerns.
According to the release, G4M technology has the potential to provide power to undeveloped regions, demonstrate unmatched nuclear safety, as well as provide a cleaner energy source by emitting no greenhouse gasses.
The G4M will produce 25 MW of safe and reliable electric power that is manufactured in a factory and transported to the installation site completely sealed. After its useful life it is replaced with an entirely new power module.
Last week, the company signed a tentative agreement with the DOE to develop SMRs at the Savannah River Site.