CORE POWER, the global pioneer in nuclear technology for the maritime sector, has won the coveted Innovative Technology  category at the prestigious International Bulk Journal Awards in recognition of its leading role in bringing game-changing solutions to shipping.

More than 500 shipping leaders from around the world gathered for a glittering gala event to celebrate the annual IBJ Awards in London on 20 November 2023, where a CORE POWER team accepted the trophy.

A panel of judges selected CORE POWER from the shortlist of nominees, citing the company’s work to bring innovative nuclear technology to the maritime market that is backed by shipping industry investment, supported by a financially strong consortium, and by the US Department of Energy.

CORE POWER has raised US$100 million, providing the company’s share in a programme to build a prototype proof-of-concept reactor. The funding is to build the world’s first molten chloride fast reactor which will change the way that nuclear power works, and with it potentially the way that maritime works by giving shipping access to a safe, emission free and incredibly energy dense source of power.

CORE POWER’s initial aim is for shipyard-manufactured floating nuclear power plants that would produce green fuels derived from hydrogen through electrolysis of desalinated seawater. They could be anchored offshore close to key bunkering ports to provide local and affordable green fuel production.

Mikal Bøe, CEO and Chairman of CORE POWER said: “We have come a very long way, and thanks to the incredible support we have had from the shipping industry we are turning our vision into reality. This award is testament to the growing acceptance that the global maritime industry needs nuclear for shipping to meet decarbonisation goals.”