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L3 MAPPS to Support Terrestrial Energy With Advanced Reactor Technology Development

MONTREAL, July 19, 2018 – L3 MAPPS and Terrestrial Energy announced today that they have signed an agreement to develop real-time simulation for Terrestrial Energy’s Integral Molten Salt Reactor (IMSR), a Generation IV advanced nuclear power plant.

The simulation is a key tool to model IMSR power plant performance. It will support the engineering development of the IMSR power plant design, its licensing, and ultimately, power plant customers by supporting operator training.

“It is a natural fit for Terrestrial Energy – a frontrunner in the development of Generation IV reactor technology – to join forces with L3 MAPPS, the leading developer of nuclear power plant simulation technology,” said Rangesh Kasturi, President of L3 MAPPS. “We look forward to working with Terrestrial Energy and combining our respective technologies to achieve advanced reactor technological firsts.”

“We identified modeling and simulation as a priority area last year, so we are delighted now to be working with L3 MAPPS and benefitting from the world-class simulation capabilities that they bring to the IMSR project,” said Simon Irish, Chief Executive Officer of Terrestrial Energy. “IMSR power plants are transformative energy technology solutions. They can make an important contribution to the world’s growing demand for clean, low-cost and reliable energy. Our relationship with L3 MAPPS is another important step towards fully realizing that potential.”

The agreement between Terrestrial Energy and L3 MAPPS sets the framework for the companies’ long-term collaboration.

Terrestrial Energy is a developer of Generation IV advanced nuclear power plants that use its proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology represents true innovation in cost reduction, versatility and functionality of nuclear power plants. IMSR power plants will provide zero-carbon, reliable, dispatchable, cost-competitive electric power and high-grade industrial heat for use in many industrial applications, such as chemical synthesis and desalination, and in so doing extend the application of nuclear energy far beyond electric power markets. They have the potential to make important contributions to industrial competitiveness, energy security and economic growth. Their deployment will support rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum. Using an innovative design, and proven and demonstrated molten salt reactor technology, Terrestrial Energy is engaged with regulators and industrial partners to complete IMSR engineering and to commission the first IMSR power plants in the late 2020s.

L3 MAPPS has over 35 years of experience in pioneering technological advances in the marine automation field and over 45 years of experience in delivering high-fidelity power plant simulation to leading utilities worldwide. In addition, the company has more than four decades of expertise in supplying plant computer systems for Canadian heavy water reactors. L3 MAPPS also provides targeted controls and simulation solutions to the space sector. To learn more about L3 MAPPS, please visit the company’s website at www.L3T.com/MAPPS.

Headquartered in New York City, L3 Technologies employs approximately 31,000 people worldwide and is a leading provider of a broad range of communication, electronic and sensor systems used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The company reported 2017 sales of $9.6 billion. To learn more about L3, please visit the company’s website at www.L3T.com.

 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.