ANNOUNCEMENT: TerraPraxis will launch the first of its applications to help coal plants decarbonize (2)

- TerraPraxis will launch the first of its applications to help coal plants decarbonize at COP27.

ANNOUNCEMENT: TerraPraxis will launch the first of its applications to help coal plants decarbonize (2)

- TerraPraxis will launch the first of its applications to help coal plants decarbonize at COP27

A solution to assess global coal fleets for conversion to emission-free sources

LONDON and CAMBRIDGE, Mass., Nov. 3, 2022 /PRNewswire/ -- TerraPraxis makes available for the first time on November 7 its new EVALUATE app, which enables coal plant owners and investors around the world to evaluate hundreds of coal plants for fast, low-cost, and repeatable conversion to zero-emission power generation sources. The non-profit organization aims to accelerate solutions for sectors that are difficult to decarbonize, including the world's fleet of 2,400 coal-fired power plants.

Replacing current coal-fired boilers with a new generation of advanced fission, fusion and geothermal heat sources would enable coal-fired power plants to stop burning coal - today the world's largest source of carbon emissions - and continue running emission-free for decades to come. The app will be free of charge and is designed to help all coal power plant owners around the world, as well as potential investors, to conduct an initial analysis of the business case, including estimated costs and timetable, for upgrading coal plants. existing coal.

The total projected cost for repowering is $2,000/kWe, with a projected project duration of less than 5 years.

Repowering coal plants with zero-emission heat sources would save thousands of jobs by reusing facilities instead of closing them, and save millions of dollars in capital costs by reusing existing infrastructure and transmission lines. This has the power to radically accelerate a clean and equitable energy transition, while providing safe, reliable and clean energy to millions of people around the world.

"Repurposing existing coal and gas plants with advanced nuclear technologies creates new opportunities to leverage existing infrastructure, transmission lines, industry knowledge, labor, capital and supply chains to support the decarbonization of the global economy at speed and scale," said Eric Ingersoll, co-founder and managing partner, TerraPraxis

The solution follows a strategic collaboration with Microsoft, which helped develop the app. It is being presented for the first time in Sharm El-Sheikh, Egypt, at COP27, an annual meeting with world leaders on climate action. The solution is built on Microsoft Azure, leveraging Azure computing and AI capabilities to analyze the details of all the world's coal plants for suitable SMR configurations for repowering. It then generates the financial and technical details of each repower project and uses the Microsoft Power Platform to make them available to coal plant owners in a self-service portal hosted on TerraPraxis.

"The world needs more energy, not less," said Brad Smith, vice president and president of Microsoft. "To reach net zero, we must come together and develop new sources of sustainable energy, as well as transform what already exists. TerraPraxis's solution to transform coal-fired power plants into carbon-free energy sources is a great example of the innovation that the world will need to create a sustainable future."

"Reusing existing fossil infrastructure can also help ensure continuity for communities that rely on existing power plants for energy, jobs, tax revenue, and continued economic development. Harnessing the power of AI and computing in the cloud can further accelerate the cost-effective upgrading of coal and gas power plant sites with new advanced heat sources," said Kirsty Gogan, co-founder and managing partner, TerraPraxis

The historic Paris Agreement reached at COP21 in December 2015 establishes that emissions must be reduced by 45% by 2030 and reach Net Zero by 2050 to limit global warming to 1.5°C. Progress since then has not been fast enough, as global emissions continue to rise each year, especially from the world's most polluting energy source: coal. With only 27 years (9,900 days) to 2050, the speed and scale of the clean energy transition require the unprecedented deployment of new technologies to meet the world's growing energy demand, both cost-effectively and without emissions.

To respond to this need, TerraPraxis is leading a global consortium - including regulators, governments, utilities, heat source providers, operators, designers and assemblers - to solve the main obstacles that prevent the rapid deployment of heat sources. zero emissions, harnessing the power of standardized designs, AI, cloud computing and big data. Project stakeholders are pursuing the development of an open architecture REPOWER platform, which would enable all project parties to work together to transform project design, licensing, development and delivery.

In addition to partnerships with Microsoft, Bryden Wood, MIT, and the University at Buffalo, TerraPraxis has recently initiated a series of strategic collaborations with the following world-class industry partners and sustainability leaders.

Schneider Electric and TerraPraxis have entered into a strategic collaboration that will leverage Schneider Electric's leadership in leading-edge technology and global manufacturing to deliver proven technologies that accelerate this energy transition and help TerraPraxis pave the way for new, more agile plants that can be built faster and reduce customer costs.

TerraPraxis is actively collaborating with several heat source providers to develop a standardized systems interface that works between a variety of zero-emission heat sources and coal-fired power plants. A letter of intent has already been signed with Terrestrial Energy, to be followed by others to join the consortium.

TerraPraxis has been working with a group of utilities, including some of the largest in the world, and is now looking for candidates to join its Customer Advisory Group. TerraPraxis has strategically partnered with Elementl Power, an advanced nuclear development company that identifies, acquires and prepares locations throughout the United States for the deployment of advanced nuclear technologies. As part of its strategy to accelerate the deployment of clean baseload power, Elementl intends to use the EVALUATE application to expedite the acquisition and conversion of advanced coal-to-nuclear plants. Elementl Power is a portfolio company of Breakwater North, a private investment firm focused on opportunities in the nuclear and clean energy sectors.

"TerraPraxis' coal repowering solution targets a levelized cost of energy of $35 to $40 per megawatt-hour (not including tax credits). In the United States, the new $30 per production tax credit megawatt-hour, provided for in the Inflation Reduction Act, makes the repowering of coal plants with advanced nuclear technologies a very profitable investment opportunity," said Eric Ingersoll.

Join TerraPraxis for a demonstration of the application in Microsoft's Pabellón (Green Zone) on the 8th, 9th and 11th of November.

More information: Visit terrapraxis.org/

The EVALUATE app will be available for free here: terrapraxisrepower.com

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