Thorium Reactor Market By Reactor Type (Molten Salt Reactors, High-Temperature Gas-Cooled Reactors, Heavy Water Reactors, Accelerator Driven Systems); By Application (Utility-Scale Power Generation, Research & Prototyping, Off-Grid and Remote Applications); By End User (Government & State Entities, Private Utilities, Industrial/Remote Infrastructure, Defense & Aerospace, Academic & Research Institutions); By Geography, Segment Revenue Estimation, Forecast, 2024–2030

Introduction And Strategic Context

The Global Thorium Reactor Market is expected to grow at a robust CAGR of 11.6% , reaching USD 1.35 Billion In 2030 , up from an estimated USD 660 Million In 2024 , according to internal market modeling.

 

Thorium-based nuclear technology has spent decades in the shadows — largely sidelined by uranium — but now it’s re-entering the spotlight. With rising global electricity demands, increasing focus on low-carbon baseload power, and an urgent push to diversify fuel sources in nuclear energy, thorium reactors are no longer an exotic concept. They're emerging as a practical, safer, and geopolitically attractive alternative to conventional reactors.

 

At the strategic level, thorium reactors address three major pressure points: supply security , waste management , and reactor safety . First, thorium is more abundant than uranium and less concentrated in geopolitically sensitive regions — a growing concern as global uranium procurement becomes a strategic liability for energy-importing nations. Second, the thorium fuel cycle produces significantly less long-lived transuranic waste. And third, most thorium reactor designs — especially molten salt reactors (MSRs) — have passive safety features that reduce the likelihood of meltdowns or radiation leaks.

y under construction or operational across Asia and Europe.

 

This next chapter

Why is this timing different from the many "false dawns" of thorium in the past? A few things have changed:

• The nuclear industry’s risk appetite has shifted after repeated disruptions in uranium supply chains.

• Climate mandates are now pressuring countries to add zero-emission baseload capacity fast — and not all regions can depend on wind or solar alone.

• Startups, research labs, and government-backed programs in countries like India, China, and Canada are testing deployable prototypes that could be commercially viable within this decade.

Key stakeholders in this market range from nuclear technology OEMs , government-funded reactor developers , and regulatory bodies , to venture investors betting on small modular reactor (SMR) platforms powered by thorium. Utilities in emerging economies are especially interested, seeing thorium as a way to build nuclear capacity without triggering public backlash or global political dependencies.

 

That said, thorium isn’t an easy plug-and-play substitute. Most current reactors can’t simply switch fuels. That’s why most of the current commercial focus is on new designs — particularly molten salt , accelerator-driven systems , and hybrid thorium-uranium cycles . These are not mainstream yet, but multiple pilot projects are alread

of thorium isn’t about hype. It’s about solving some of the biggest structural barriers facing nuclear energy — waste, cost, safety, and scale. And this time, more than just policy drivers are involved. There’s a real commercial model emerging behind it.

 

Market Segmentation And Forecast Scope

The thorium reactor market breaks down along several clear lines — not just by reactor design, but also by application type, regional demand dynamics, and the stage of commercial readiness. Unlike the broader nuclear sector, this is a space where most activity is still at the pilot or pre-commercial stage, but momentum is building fast.

By Reactor Type

• Molten Salt Reactors (MSRs) These dominate current thorium R&D and pilot deployments. MSRs dissolve thorium fuel in a liquid salt medium, offering passive cooling, lower pressure operation, and superior safety. They’re the most commercially promising and account for over 58% of the market share in 2024 . China, India, and a few startups in North America are actively investing here.

• High-Temperature Gas-Cooled Reactors (HTGRs) Still emerging, HTGRs can be designed to use thorium mixed with other fuels. They operate at higher thermal efficiencies and are being explored for both electricity and process heat applications.

• Heavy Water Reactors (HWRs) Thorium can be used as a fertile material in CANDU-type reactors. While this isn’t “pure” thorium deployment, it’s a transitional step for utilities already operating HWRs.

• Accelerator Driven Systems (ADS) These are in experimental stages but hold promise for transmuting nuclear waste and running on thorium. India’s Advanced Heavy Water Reactor (AHWR) roadmap includes potential ADS integration by the 2030s.

For now, molten salt remains the lead design due to its compatibility with thorium and modular design potential.

 

By Application

• Utility-Scale Power Generation This is the primary commercial focus. National utilities in India and China are pushing thorium-based plants as part of their broader energy security strategy. In the West, interest is growing among utilities seeking zero-emission baseload options that don’t come with traditional uranium-related baggage.

• Research and Prototyping A sizable share of market activity still sits here. National labs, defense research agencies, and university partnerships are building small-scale testbeds — some for pure energy purposes, others for hybrid applications like isotope production or waste transmutation.

• Off-Grid and Remote Applications This segment is nascent but intriguing. Thorium-based SMRs are being proposed for deployment in mining sites, military bases, and Arctic communities where fuel logistics are complex.

Expect remote and modular applications to pick up sharply post-2030 if current pilot projects succeed.

 

By End User

• Government & State-Backed Entities Still the primary funders and operators in this space. From India’s Bhabha Atomic Research Centre to China’s Shanghai Institute of Applied Physics, national labs are leading innovation.

• Private Utilities and Energy Developers Interest is increasing here, especially among clean energy portfolio investors and next-gen nuclear developers targeting modular builds for export markets.

• Defense and Aerospace Programs In countries like the U.S. and Russia, there’s growing R&D around thorium reactors for long-endurance submarine or spacecraft propulsion — though these remain classified or early-stage.

 

By Region

• Asia Pacific Leads the global market, driven by India’s longstanding thorium fuel cycle program and China’s prototype MSR developments in Gansu Province. Over 45% of global thorium reactor investments in 2024 originate in this region.

• Europe European nations are investing cautiously, with Norway and the Czech Republic hosting some of the continent’s key thorium R&D initiatives. EU safety standards are influencing early design requirements.

• North America Activity here is largely driven by private-sector startups (e.g., Flibe Energy, ThorCon ), supported by DOE grants. Regulatory uncertainty still poses a barrier.

• Rest of World ( RoW ) The Middle East and Australia are beginning to explore thorium as part of long-term energy diversification, especially in the context of uranium export dependencies.

Scope Note: The forecast period spans 2024 to 2030 , capturing both the prototype deployment phase and the expected ramp-up in pilot commercialization. Market sizing includes direct technology development revenue, government and private R&D investments, and pilot reactor deployment funding. Licensing and waste-management related services tied specifically to thorium are included, while conventional uranium-based systems are excluded from this scope.

 

Market Trends And Innovation Landscape

The thorium reactor market is being shaped by a wave of innovation that’s finally catching up with decades of theoretical promise. What was once confined to white papers and experimental labs is now entering pre-commercial territory — backed by smarter designs, more stable funding streams, and an urgent global push for clean, reliable baseload energy.

Let’s break down the key innovation trends driving this market forward.

Molten Salt Reactors Are Becoming the Design Standard

After years of debate, the industry is converging around molten salt reactors (MSRs) as the most viable architecture for thorium fuel. MSRs allow the fuel to remain in a liquid state, offering passive safety , low-pressure operation, and higher thermal efficiency. What’s changed recently?

• Chinese scientists successfully commissioned the TMSR-LF1 in 2023 — a 2MW prototype designed to test thorium-based molten salt fuels.

• Startups in the U.S. and Europe are licensing similar designs for modular applications, reducing infrastructure costs and deployment timelines.

This modularity is key. By designing reactors in compact, factory-built units, developers can bypass the cost overruns and long timelines that plague traditional nuclear builds.

 

AI-Driven Safety Simulations Are Speeding Up Licensing

One of the historical hurdles for thorium has been safety validation — especially when existing regulations are written for uranium-based reactors. Now, simulation tools powered by AI and high-performance computing are filling that gap.

These tools can model:

• Salt corrosion under dynamic operating conditions

• Long-term waste profile projections

• Passive safety system responses during fault conditions

By simulating decades of performance within days, these systems help compress the regulatory review process — a critical factor for commercial rollout.

 

Fuel Fabrication Is Evolving to Match Thorium’s Chemistry

Unlike enriched uranium, thorium-232 is not fissile on its own. It needs to be converted to uranium-233 within the reactor. That means fuel fabrication is different — and more complex.

Innovations here include:

• TRISO-based thorium fuel pellets that improve containment of fission products

• Hybrid fuel cycles that combine thorium with low-enriched uranium or plutonium to jump-start the reaction

• Online reprocessing systems in MSRs that remove unwanted isotopes during operation

These aren’t lab concepts anymore. India’s 300 MW Advanced Heavy Water Reactor (AHWR) is designed to use a thorium-uranium mix and could be operational within this decade.

 

Private Sector Activity Is Getting Real

For decades, thorium was the domain of national labs. That’s changing fast. Several startups and mid-stage nuclear firms are now betting their business models on thorium platforms.

Examples include:

• ThorCon (U.S./Indonesia): Working on a 500 MW molten salt thorium reactor for deployment in Indonesia.

• Flibe Energy (U.S.): Focused on liquid fluoride thorium reactor (LFTR) designs with aerospace and modular deployment use cases.

• Steenkampskraal Thorium (South Africa) : Reviving a thorium mine with plans for vertically integrated fuel and reactor production.

What’s notable is that many of these companies are looking beyond traditional utility customers. They’re targeting mining operators, island nations, and even defense departments — any place where diesel is costly and uranium is politically tricky.

 

R&D Partnerships Are Crossing Borders

Unlike fossil fuel markets, where geopolitics often divide collaboration, thorium R&D has seen surprising cross-border cooperation. For instance:

• Norway’s Thor Energy is testing thorium fuel rods in a Westinghouse reactor.

• Czech and French labs are working on thorium fuel corrosion models.

• Canada’s Chalk River Labs is partnering with Indian researchers on fuel testing protocols.

This global R&D ecosystem matters. It allows thorium developers to piggyback off each other’s findings — and gives governments more confidence in the collective safety and viability of these designs.

 

What’s Next?

Expect the next wave of innovation to focus less on the reactor core — and more on the deployment model. Whether it’s floating platforms, off-grid SMRs, or reactors bundled with hydrogen production systems, thorium will be packaged not just as a technology — but as an energy-as-a-service solution.

The takeaway? Thorium’s future isn’t just about fuel chemistry. It’s about design agility, commercial imagination, and regulatory flexibility. And that’s exactly where innovation is now pointing.

 

Competitive Intelligence And Benchmarking

Thorium reactors represent a niche within the nuclear sector — but the competition here is anything but sleepy. What’s emerging is a split landscape: legacy nuclear companies moving cautiously, and a rising class of agile startups and state-backed innovators making bolder bets. Since most thorium designs are still in pilot or pre-commercial phases, differentiation is more about vision, funding strength, and regulatory momentum than product lineups.

Here’s how the current competitive field stacks up.

Flibe Energy (United States)

One of the earliest thorium-first companies, Flibe Energy has centered its strategy on liquid fluoride thorium reactors (LFTRs) — drawing directly from U.S. Department of Energy research dating back to the 1960s. Their design uses lithium and beryllium fluoride salts to deliver stable, self-regulating performance.

Flibe positions itself as a national security play, targeting U.S. energy independence from uranium imports and aiming for modular reactors deployable in military or remote infrastructure. While they haven’t reached the prototype stage yet, their regulatory engagement and technical depth keep them a core name in this space.

 

ThorCon (U.S./Indonesia)

ThorCon is perhaps the most commercially aggressive startup in the space. Based in the U.S. but deploying its first reactors in Indonesia , the company is building a 500 MW molten salt reactor that leverages a thorium-uranium fuel mix.

What makes ThorCon different? They’re treating the reactor as a shipyard-built power barge — assembled at scale and towed to site. This offshore model eliminates many of the land-use, permitting, and construction delays that plague nuclear energy. Their partnership with Indonesia’s energy ministry gives them a credible path to first deployment before 2030.

 

Shanghai Institute of Applied Physics (China)

Backed by the Chinese Academy of Sciences, this institute has made China the first country to operate a grid-connected thorium molten salt test reactor — the TMSR-LF1 , commissioned in 2023.

This isn’t just a research project. China sees thorium as part of its long-term plan to reduce uranium import dependency and become a global leader in SMR exports. They’re also exploring thorium reactors for use in hydrogen production and synthetic fuel generation.

The scale of government support here — across funding, policy, and scientific collaboration — puts China several years ahead of most countries in terms of deployment readiness.

 

Bhabha Atomic Research Centre (India)

India has one of the world’s largest thorium reserves — and it’s been working toward a three-stage nuclear program that ends with full thorium-based reactors .

Its flagship project, the 300 MW Advanced Heavy Water Reactor (AHWR) , is designed to use thorium-uranium fuel and heavy water moderation. While progress has been slower than anticipated, India’s focus remains long-term. If successful, the AHWR would be the world’s first large-scale commercial thorium reactor — a global benchmark for fuel cycle transition.

BARC’s approach is more conservative than the private startups, but its scale and policy support are unmatched in South Asia.

 

Thorium Power Canada

Focused on modular solutions, Thorium Power Canada is promoting a 10–25 MW thorium reactor targeted at remote communities, mines, and off-grid industrial sites. Their design is based on solid fuel, not molten salt, which could simplify early regulatory approval.

They’ve signed agreements with energy developers in the Philippines and Chile — small markets, but with real need for distributed, clean power. Their playbook? Low-cost builds, low-controversy fuel, and fast deployment.

 

Terrestrial Energy (Canada)

Though primarily known for its Integral Molten Salt Reactor (IMSR) using uranium, Terrestrial is actively researching thorium fuel compatibility. The Canadian regulatory framework offers flexibility for fuel innovation, and the company is positioning itself to adopt thorium if uranium supply becomes more volatile.

This hybrid stance gives them a hedge — and access to funding from both uranium-aligned and thorium-aligned sources.

 

Benchmark Takeaways

• China and India dominate the state-led race , with strong R&D funding, national mandates, and fuel reserves.

• Flibe and ThorCon lead among private startups , offering different models — defense-focused vs. scalable utility.

• Canada is a bridge zone, offering a regulatory and geographic midpoint between the Western and Asian ecosystems.

• Europe and the U.S. lag in actual deployment but host deep expertise in fuel chemistry, modeling, and reactor safety systems.

To be honest, this isn’t a crowded race yet — but the lanes are starting to form. And the players who align fast with regulators and grid operators will be the ones who break out first.

 

Regional Landscape And Adoption Outlook

Thorium reactors aren't just a technological shift — they're a geopolitical one. Unlike uranium, which has entrenched supply chains and dominant producers, thorium reserves are widely distributed and less monopolized. That alone reshapes how different regions approach investment, regulation, and deployment. The adoption outlook varies sharply by geography, and much of the future growth will be dictated not just by innovation — but by local politics, infrastructure readiness, and energy security priorities.

Asia Pacific – Leading the Global Race

This region is the clear front-runner, with India and China accounting for over 45% of global thorium reactor R&D and prototype funding in 2024. Their dominance isn't accidental — both countries have large thorium reserves, rising electricity demand, and a political interest in reducing dependence on uranium imports.

• India has the most mature thorium roadmap. Its three-stage nuclear program, first conceived in the 1950s, aims to end with a fully closed thorium fuel cycle. While commercial deployment has been slow, the Advanced Heavy Water Reactor (AHWR) and related programs are making technical progress. Public trust in nuclear energy remains high compared to Western nations, which also helps.

• China is less ideologically committed to thorium, but more aggressive in deployment. The successful launch of its TMSR-LF1 molten salt reactor in 2023 marked a turning point. China views thorium as a hedge against uranium volatility and a future export opportunity — particularly to the Global South .

Expect Asia Pacific to remain the most commercially active region through 2030, with at least two full-scale thorium reactor projects expected to begin power generation by mid-decade.

 

Europe – Research-Heavy, Deployment-Hesitant

Europe’s nuclear sector is complex. While some countries (like France and Finland ) continue to support nuclear, others (like Germany and Austria ) are phasing it out. That split has slowed thorium deployment — but not research.

• Norway has been testing thorium fuel pellets in collaboration with Westinghouse and international partners.

• The Czech Republic and France are conducting advanced material studies on corrosion and fuel performance under EU-funded programs.

• Regulatory bodies across the EU are engaged in setting thorium-related safety frameworks, especially as interest in SMRs (Small Modular Reactors) grows.

Europe won’t lead in early thorium deployment, but its R&D footprint gives it strategic influence over safety and fuel standards — a potential export advantage later.

 

North America – Startup-Driven, Policy-Challenged

In the U.S. and Canada , thorium innovation is driven less by governments and more by private-sector startups . Companies like Flibe Energy , ThorCon , and Terrestrial Energy are prototyping molten salt or modular reactors designed for export or defense use.

• The U.S. Department of Energy has provided R&D funding and test facilities but hasn’t committed to full-scale thorium deployment.

• In Canada , regulatory flexibility and a supportive environment for SMRs have attracted interest, but thorium-specific licensing remains uncharted territory.

Political polarization around nuclear policy in the U.S. adds uncertainty. Still, if thorium-powered SMRs can align with clean energy tax credits or defense needs, the adoption pace could accelerate suddenly.

Middle East & Africa – Exploring Long-Term Strategic Value

Countries in the Gulf Cooperation Council (GCC) — particularly UAE and Saudi Arabia — are showing early-stage interest in thorium reactors, mainly as part of their long-term post-oil energy strategy.

• The UAE’s Barakah nuclear plant uses conventional fuel but is seen as a precedent-setter.

• Saudi Arabia has signed exploratory agreements with multiple nuclear developers, some of whom have proposed thorium as a fuel option.

In Africa , South Africa is the most active player, with Steenkampskraal Thorium Ltd. pushing for a vertically integrated model: thorium mining, fuel processing, and small reactor development.

Adoption here won’t be immediate, but the region could leapfrog into thorium if cost models align with off-grid or industrial site needs.

 

Latin America – Quiet, But Watching

Latin America’s role in the thorium market is still emerging. Countries like Brazil and Argentina have existing nuclear infrastructure and are monitoring thorium developments. The challenge? Regulatory inertia and limited capital for speculative technologies.

That said, Thorium Power Canada’s agreements in Chile suggest there's interest in small-scale deployments — particularly in mining communities facing high diesel costs and energy reliability issues.

Regional White Spaces and Underserved Zones

• Southeast Asia (beyond Indonesia) lacks thorium infrastructure but has massive off-grid demand. If modular designs succeed, this becomes a viable frontier.

• Central Asia , with its mining-heavy economies and grid stability issues, could benefit from mobile thorium SMRs.

• Australia , despite having significant thorium reserves, has little domestic nuclear policy support — a major policy paradox that may shift under climate pressure.

In short: adoption won’t be linear. But as a geopolitical hedge, a carbon-neutral option, and a modular technology, thorium is quietly building regional coalitions. Asia may lead now — but once economics and safety proofs stabilize, others will follow.

 

End-User Dynamics And Use Case

Unlike conventional nuclear energy, which is largely centralized and state-managed, the thorium reactor market is shaping up to serve a broader, more diverse end-user base . That’s partly due to the modular and safety-focused nature of thorium designs — but also because different sectors are looking for alternatives to diesel , off-grid power , and uranium-based political entanglements .

Here’s how the end-user dynamics are unfolding.

Government & National Utilities

Governments remain the primary stakeholders in thorium development today — not just as regulators but as operators and funders . In India, for example, the Bhabha Atomic Research Centre (BARC) leads reactor design and fuel cycle R&D. In China, the Shanghai Institute of Applied Physics is a state-backed body directly running thorium MSR pilots.

For these entities, thorium isn’t just an energy source — it’s a national strategic asset . It helps mitigate uranium import dependency and builds domestic IP around future-ready reactor designs. These users often prefer large-scale or grid-connected designs, with full state support.

 

Private Utilities and Independent Power Producers (IPPs)

This group is smaller — but growing. Utilities in countries with high electricity costs and carbon pricing (e.g., Indonesia , Philippines , parts of Eastern Europe ) are exploring small modular thorium reactors as part of their transition strategy.

What attracts them?

• Lower fuel volatility compared to enriched uranium

• Lower public opposition, thanks to thorium’s safety profile

• Potential integration with renewables in hybrid grid systems

That said, many of these entities are waiting for regulatory clarity and proven economic models before committing to pilot deployments.

 

Mining, Industrial, and Remote Infrastructure Operators

Perhaps the most underappreciated user segment is industrial and remote operators — especially in the mining, oil sands, and logistics sectors . These users spend millions annually on diesel or bunker fuel to run power stations in areas far from national grids.

Enter thorium SMRs.

These reactors — designed in the 5–25 MW range — offer clean, reliable, long-duration power without constant refueling or fuel delivery logistics.

 

Use Case: A Mining Operation in Northern Canada

A large nickel mine in northern Canada (location anonymized for privacy) currently runs on diesel generators, burning over 2 million liters annually . In 2024, the site operator entered into an exploratory agreement with a thorium SMR startup based in Ontario.

The proposal: install a 15 MW thorium reactor , built off-site and delivered as a modular unit. The benefits modeled include:

• 60% cost reduction in energy-related operating expenses

• Full elimination of diesel fuel dependency

• Stable electricity supply for 24/7 processing operations

• A 15-year fuel cycle before refueling is required

While regulatory clearance is still pending, the company expects deployment by 2028 , pending licensing approvals. This kind of project — low grid access, high fuel cost, stable demand — is tailor-made for thorium SMRs.

 

Defense and Aerospace Programs

Several countries are exploring thorium reactors for specialized defense or space applications . These include:

• Long-endurance unmanned submarines or undersea surveillance systems

• Lunar or Martian base power systems , where long-term energy autonomy is critical

These are mostly classified or speculative projects, but the interest is real. Thorium’s high energy density and passive safety make it attractive for isolated and mission-critical use cases.

 

Academic and Research Institutions

Universities, national labs, and energy research institutes continue to serve as early-stage adopters — not for commercial power generation, but for fuel modeling, safety testing, and material science. These stakeholders are critical in pushing thorium closer to regulatory acceptance.

Think of them as the testing ground before market validation kicks in.

 

What’s Changing?

As the technology matures, we’re likely to see more private-sector adoption , especially among mid-sized industrial energy users who are currently priced out of nuclear. The long fuel life, lack of weaponization risk, and passive safety of thorium designs lower the operational and reputational barriers for these users.

In short, thorium isn’t just for mega-scale reactors and national energy strategies anymore. It’s starting to look like a distributed solution with real commercial versatility — one that serves governments, industry, and even remote frontiers.

 

Recent Developments + Opportunities & Restraints

Recent Developments (Last 2 Years)

• China launched the TMSR-LF1 , a 2MW thorium-based molten salt reactor prototype, marking the first operational thorium MSR in the world.

• India’s Department of Atomic Energy accelerated construction plans for its 300 MW Advanced Heavy Water Reactor (AHWR), intended to use a thorium-uranium fuel mix.

• ThorCon signed a deployment agreement with the Indonesian government to build a 500 MW thorium-powered floating nuclear plant, scheduled for operational readiness by 2029.

• Thorium Power Canada entered into pilot partnerships with Chilean and Philippine energy developers to deploy 10–25 MW modular thorium reactors in off-grid mining locations.

• Flibe Energy secured additional U.S. federal grants for the simulation and safety testing of its proprietary LFTR (Liquid Fluoride Thorium Reactor) design.

 

Opportunities

• Rising demand for off-grid clean energy is opening up new markets for thorium SMRs in mining, military, and island economies.

• Geopolitical diversification of nuclear fuel sources is pushing energy-importing nations to explore thorium as a less politicized alternative to uranium.

• Growing regulatory interest in passive safety reactors is aligning well with molten salt thorium designs, potentially shortening licensing pathways.

 

Restraints

• Lack of a standardized global regulatory framework for thorium-based reactors is slowing commercial approvals and cross-border collaboration.

• High upfront R&D and material qualification costs are limiting private investment and making it harder for startups to reach deployment stage without state backing.

 

7.1. Report Coverage Table

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 660 Million
Revenue Forecast in 2030	USD 1.35 Billion
Overall Growth Rate	CAGR of 11.6% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2019 – 2023
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Reactor Type, By Application, By End User, By Region
By Reactor Type	Molten Salt Reactors, High-Temperature Gas-Cooled Reactors, Heavy Water Reactors, Accelerator Driven Systems
By Application	Utility-Scale Power Generation, Research & Prototyping, Off-Grid and Remote Applications
By End User	Government & State Entities, Private Utilities, Industrial/Remote Infrastructure, Defense & Aerospace, Academic & Research Institutions
By Region	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country Scope	U.S., Canada, China, India, Indonesia, France, Germany, Norway, UAE, South Africa, Brazil, Chile
Market Drivers	• Growing demand for safe, zero-emission baseload power • Rising energy security concerns related to uranium imports • Increasing feasibility of modular and off-grid thorium reactors
Customization Option	Available upon request