Hyperion Power Generation Inc. on March 13 said it will change its name to Gen4 Energy Inc.
The new name, Gen4 Energy, will more accurately describe the focus of the company, CEO Robert Prince said in a news release.
“As a natural follow through to the evolution of the company over the last year, the name Gen4 Energy more accurately describes the focus of the company, the first product being developed, and the needs of the market we intend to address,” Prince stated.
The company is developing a small next generation nuclear power reactor, Gen4 Module, which will require no refueling and no on-site access to nuclear fuel.
According to the company, the market for its G4M technology includes remote and island communities that are off-grid; mining and oil and gas production projects that are off-grid, energy-intensive, and increasingly sensitive to the environmental concerns of burning fossil fuels; and government facilities that need reliable, off-grid power for sensitive or strategic missions.
The company intends to license and demonstrate its first Gen4 Module (G4M) in the U.S. or Canada, and then address the global market.