X-Press Feeders, the world’s largest independent common carrier, has made an investment in Core Power, a UK-based development company specializing in scalable atomic power technology for ocean transport and heavy industry.
The carrier, which has not disclosed the amount of the investment, is one of six shipping players that have reportedly invested in Core Power.
Core Power is developing a modular molten salt reactor (MSR) to propel ships and provide energy for manufacturing blue and green fuels.
As explained, this technology delivers base power load with zero emissions and minimal residual waste on decommissioning.
The first prototype MSR reactor is due to start trials in 2025. Measuring 3,5 x 3,5 x 7,5 meters and weighing 450 tons, it can be produced in factory-controlled conditions.
The investment is part of X-Press Feeders’ overall strategy aimed at reducing its carbon footprint in line with the IMO targets.
The company also revealed plans to add next-generation ships that will burn less than half the fuel of X-Press Feeders’ existing units. The newbuilds will be capable of burning zero-carbon fuels including ammonia NH3 and possibly hydrogen.