August 12, 2008

Hyperion Receives Order Interest From TES Group for Compact Nuclear Reactors

Mini-nuclear power plant developer Hyperion Power Generation has received a letter of intent from the TES Group for the purchase of the Hyperion Power Module, a compact, transportable nuclear power reactor.

The intention to purchase up to six units for various projects, at approximately $25 million each, was placed by the TES Group, an investment company focusing on the energy sector in central-eastern Europe.

If successful, they could potentially be in the market for up to 50 Hyperion Power Modules (HPM). Each power module reportedly provides 27MW of electricity when connected to a steam turbine, enough to provide electricity for 20,000 average-size US homes or the industrial equivalent.