Welcome!

News Feed Item

Terrestrial Energy Inc. Announces Appointment of Hugh MacDiarmid as Chairman of the Board; Financing Oversubscribed

OTTAWA, ONTARIO -- (Marketwired) -- 03/31/14 -- Terrestrial Energy Inc. ("TEI" or the "Company") is pleased to announce the appointment of Hugh MacDiarmid as the Chairman of the Board of Directors. Mr. MacDiarmid brings highly relevant industrial experience to the Company's project - particularly his service as President and CEO of Atomic Energy of Canada Ltd.

Hugh MacDiarmid has accumulated a broad range of executive and professional experience over a 30+ year career. His focus has been on technology-intensive businesses and transportation-related industries, with extensive exposure to international commerce. Mr. MacDiarmid has operating executive experience in large corporations such as Atomic Energy of Canada Limited, where he served as President and CEO from 2008 to 2011, Canadian Pacific Railway, where he served as Executive Vice-President, Commercial, and Laidlaw International Inc., where he served as President and CEO of their student transportation business unit. He has also worked in smaller and mid-sized enterprises, serving as President and CEO of Lumonics Inc., a Canadian manufacturer of laser systems. Earlier in his career, Mr. MacDiarmid was a partner with McKinsey & Company, a leading international management-consulting firm.

Mr. MacDiarmid currently serves on the boards of SeaCube Container Leasing Limited and ALH Holding Inc., both of which are portfolio companies of a leading Canadian pension plan. In the public sector, he served as Chairman of the Board of the Public Policy Forum and Chairman of the Board of Trustees of the Ottawa General Hospital. He was also an appointee of both the Government of Canada, as Chairman of the External Advisory Committee on Smart Regulation, and the Government of Ontario, as a governor of Ortech International.

Mr. MacDiarmid obtained his Honours Business Administration degree from the Ivey Business School at Western University and currently sits on the Ivey Advisory Board. He also obtained his Masters of Business Administration degree from Stanford Graduate School of Business, where he graduated as a Miller Scholar.

Mr. MacDiarmid commented on his appointment: "I have been investigating the long-term future of Canada's nuclear sector for several years. Terrestrial Energy Inc.'s Integral Molten Salt Reactor technology could well be not only Canada's but also the world's most promising nuclear technology. It is for this reason that I am joining with this very talented group, and contributing my skills, experience and network. I look forward to being very active, helping to build capital and strategic industrial relationships for TEI."

TEI chief executive, Simon Irish, commented: "TEI continues to build its team of world class executives. Hugh MacDiarmid's highly relevant experience and skill set, most notably in the nuclear and industrial sectors, are a great complement to our growing technical team of global experts in Molten Salt Reactor technology, as well as our existing management."

The Company also wishes to announce that it has successfully closed its final seed round of financing. The round was oversubscribed, and the Company wishes to thank all of its investors for their support. The Company has more than sufficient funds in its treasury to carry it forward to the Conceptual Design stage, as planned.

About Terrestrial Energy Inc.

Terrestrial Energy Inc. ("TEI") has the objective of commercializing its proprietary Molten Salt Reactor technology in Canada by 2021. Molten Salt Reactor technology represents a revolution in nuclear safety, waste and proliferation resistance, and in energy cost-competitiveness. TEI's Integral Molten Salt Reactor (IMSR) is a small modular design, with models ranging from 29 MWe to 290 MWe - ideally suited for remote communities and industrial operations, including on- and off- grid power provision. Canada provides a favorable jurisdiction for the company's Molten Salt Reactor development, licensing and marketing. TEI's founding board consists of executives from the oil-sands, mining and finance sectors.

Contacts:
Contact North America:
Investor Relations, Terrestrial Energy Inc.
(604) 329-1210
(604) 608-3282 (FAX)
[email protected]
www.terrestrialenergyinc.com

Social Media
Facebook: https://www.facebook.com/TerrestrialMSR
Twitter: https://twitter.com/TerrestrialMSR
http://www.linkedin.com/company/terrestrial-energy-inc

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...