Thorium Power, Ltd. – News Update
media.corporate-ir.net
July 23, 2007
Letter from Seth Grae, CEO
Dear Stockholders:
We are pleased to share this latest news update, which includes company news as well as industryrelated
developments.
Media Coverage
In an extensive analysis of thorium fuel, Platts European Power Daily, reported on the growing
market for thorium, noted Thorium Power’s ongoing commercialization process and leading industry
role as well as the rapid progress of companies in Scandinavia seeking to utilize thorium-based
fuels. The publication referenced the many benefits of thorium noting that “it produces less waste
than conventional reactors and is safer.” Meanwhile, The Times of India reported on the
International Conference on Emerging Nuclear Energy Systems and noted thorium’s potential as a
“fertile base” for nuclear power. Writing under the headline “Thorium reactor in India soon!,” the
newspaper mentioned Thorium Power’s ongoing work with Moscow’s Kurchatov Institute to
commercialize thorium-based fuels and fuel cycle designs.
Notable Research and Reports
The last month has seen the publication of three important studies marking the resurgence of
nuclear energy: According to British Petroleum’s recently released World Energy Review, worldwide
energy consumption increased in 2006 but the rate of growth slowed for every fuel except nuclear.
Nuclear grew by 1.4% in 2006. Meanwhile, the OECD Nuclear Energy Agency’s annual nuclear
energy data review, nuclear energy contributed 23.1% of the 17 OECD countries' electricity in 2006,
slightly up from 22.8% in 2005. Finally, according to a PricewaterhouseCoopers (PwC) report, a
“huge shift in thinking in the worldwide utility sector is bringing nuclear energy, energy efficiency and
cleaner fuels to the top of the corporate agenda.” PwC’s “Energy and Efficiency: Utilities Global
Survey 2007” surveyed 114 energy utilities in 44 countries, and found that 45% thought nuclear
would account for an increasing share of consumption over the next five years, up from 19% in
2006.
Industry News and Developments
We continue to see rapid progress in the India-US nuclear deal as well as major advances in other
“new nuclear” nations: According to World Nuclear News, a site in India's Orissa state is under
investigation for suitability for a 4-6000 MWe nuclear power plant. In Finland, a total of six
municipalities have so far agreed to hold talks on possible sites for nuclear power plants with newly
formed consortium Fennovoima. In Bulgaria, meanwhile, the government’s commitment to building
two reactors at the Belene site has progressed with the shortlisting of six major investors from
across Europe, now invited to bid. Finally, China’s Tianwan 2 nuclear reactor was operated at 100%
power between July 10 and July 15. Commercial operation is slated for September, but the unit has
already produced 568 million kWh of electricity.
These developments support our unique positioning as a source of solutions to address the major
industry concerns– how to solve proliferation, reduce waste and improve profitability.
Very Truly Yours,
Seth Grae
Chief Executive Officer |
