The founders of Transatomic Power were nuclear engineers having what they belived to be a new approach for electricity generation describing themselves as pioneering energy technology capable of generating clean, safe and affordable nuclear power. With fossil fuels dominating the worlds energy economy, the effort was to change that with the firm's reactor generating carbon-free electricity at a price less expensive than coal. The vision was to replace the coal plants that were coming offline in the US - and to serve as an alternative to new coal plants being built internationally: a low-cost, environmentally-friendly alternative to fossil fuels power ingthe world while keeping it clean. By 2018 the orriginal players had decided to close up shop : hutter Its Nuclear Reactor Plans, Open-Source Its Technology. Principals discovered that in 2016 errors in its early analysis had been made and the design couldn't consume nuclear waste. Transatomic Power ceased operation on September 25, 2018. The startup backed by Peter Thiel wont be able to build its advanced reactor designsbut its making its IP available for others to carry on the work.
