FOR IMMEDIATE RELEASE
CONTACT:
Melinda Davenport
Corporate Communications
[email protected]
1 (510) 775-1685
John McCloskey
Materion Corporation
[email protected]
1 (216) 218-8305
KAIROS POWER AND MATERION PARTNER TO DEVELOP AND SUPPLY MATERIALS FOR ADVANCED REACTOR TECHNOLOGY
ALAMEDA, Calif. – May 21, 2020 – Kairos Power and Materion Corporation (NYSE: MTRN) have announced the formation of a strategic collaboration to develop a reliable and cost-effective supply of salt coolant for high-temperature molten salt reactors. This coolant is a key component of Kairos Power’s fluoride salt-cooled, high-temperature reactors (KP-FHR). Under the agreement, Materion will supply beryllium fluoride, expert technical consultation, key interfaces, and support services.
The KP-FHR, an advanced reactor technology being commercialized by Kairos Power, is a zero-carbon source of electricity with cost targets that are competitive with natural gas combined cycle plants. Kairos Power recognizes the commercial potential of this technology and will work with Materion to enable its success.
“The collaboration with Materion creates a powerful combination that builds on the unique capabilities of both companies,” said Dr. Michael Laufer, CEO and Co-Founder of Kairos Power. “For decades, Materion has proven that they are a reliable supplier that can deliver specialized materials across many types of applications, including reactor technology, and this agreement will make a major impact in our ability to accelerate the deployment of our advanced reactor technology and to enable the world’s transition to clean energy.”
“We look forward to collaborating with Kairos Power in this exciting win-win opportunity,” said Jugal Vijayvargiya, President and CEO of Materion. “It underscores Materion’s ability as a leading solution provider of advanced materials to consistently leverage new market opportunities for our products and services, while supporting Kairos’ important mission of providing clean and sustainable energy for the future.”
About Kairos Power
Kairos Power is a nuclear energy technology and engineering company whose mission is to enable the world’s transition to clean energy with the ultimate goal of dramatically improving people’s quality of life while protecting the environment. To achieve this goal, Kairos Power is singularly focused on the commercialization of the fluoride salt-cooled, high temperature reactor, which has the potential to transform the U.S. clean energy landscape.
About Materion
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies advanced materials to global markets. Our unique product portfolio includes high performance alloys, beryllium products, clad metal strip, composite metals, ceramics, inorganic chemicals, microelectronics packaging materials, precision optics, thin film coatings and thin film deposition materials.
