The recent International Atomic Energy Agency (IAEA) Bulletin, IAEA's flagship publication, features an article by Eric Ingersoll, Founding Director and Co-CEO of Terra Praxis, and Chirayu Batra, Co-Founder of 92 Ventures, on "The Energy Transition and Industrial Decarbonization" and the urgent need for over 30 terawatts of clean energy to achieve global decarbonization and provide modern energy services to all.
The recent International Atomic Energy Agency (IAEA) Bulletin, IAEA's flagship publication, features an article by Eric Ingersoll, Founding Director and Co-CEO of Terra Praxis, and Chirayu Batra, Co-Founder of 92 Ventures, on "The Energy Transition and Industrial Decarbonization" and the urgent need for over 30 terawatts of clean energy to achieve global decarbonization and provide modern energy services to all.
This edition of the IAEA Bulletin, “Net Zero Needs New Nuclear”, surveys the current nuclear power landscape, illustrating recent successes and what still needs to be done so that nuclear power meets those projections. IAEA Director General Grossi’s foreword sends a clear message, “The time is now”.
Eric Ingersoll’s contribution highlights the industrial sector's significant role, accounting for 37% of global energy use and contributing to 25% of carbon emissions. While there is a push for full-scale electrification, the article outlines the challenges that presents, particularly in meeting the simultaneous heat and power demands of industries. Full decarbonization of energy-intensive industries requires a substantial increase in clean energy resources. A decentralized source of nuclear energy — such as a small modular reactor (SMR) or microreactor at an industrial site or industrial cluster — can provide enough heat and power to meet requirements.
SMRs could help to meet the needs of industry through a deployment model based not on a large custom project but on factory-built products using a pre-established design, supply chain and delivery process. This approach would reduce costs, improve efficiency and ensure a predictable construction schedule. It would provide a commercially low risk, cost effective, reproducible and scalable solution that aligns with industry goals and contributes to the achievement of global decarbonization targets.