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.

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
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...