Thorium Power develops and owns nuclear fuel technology to take advantage of the current expansion of the nuclear power industry. Their technology facilitates the implementation of thorium-based fuel to address proliferation and waste concerns in the generation of power from nuclear reactors. The Company leverages its nuclear technology, business and regulatory expertise and relationships by offering services to commercial entities and governments looking to establish or expand nuclear industry capabilities and infrastructure. Thorium Power maintains long-standing relationships with leading Russian nuclear entities.
They argue they offer 'cleaner' nuclear power by using Thorium (a cheap and relatively plentiful element occurring in minerals) and that this stops the reactor from producing nuclear weapons-usable plutonium. The process was developed by Alvin Radkowsky an American-born Israeli nuclear physicist (1915—2002) who helped build the world's first nuclear-powered submarine, the USS Nautilus, in the early 1950s and, later in his career, worked on developing Thorium nuclear reactor fuel that would produce a minimal amount of radioactive waste. The new technology is known as the Non-Proliferative Light Water Thorium Reactor, or Radkowsky Thorium Reactor (RTR) for short.
Prof. Radkowsky believed that Western governments should be pressured into selling only RTR-type nuclear reactors to developing nations. The RTR can be installed in developing countries which lack natural sources of power such as coal, oil or even firewood, without fear that unstable governments may divert the reactor fuel for weapon purposes.
Radkowsky was Chief Scientist of the US Naval Nuclear Propulsion Program from 1948 to 1972 and studied under Dr. Edward Teller. His invention has been declassified and is now used by almost all commercial reactors. Radkowsky joined Tel Aviv University's Faculty as professor of nuclear engineering in 1972. Funding for his research on RTRs came from the Raytheon Corp., Nuclear Division and private investors.
George D. Crowley, Jr. Co-chairman of the International Advisory Board: Chairman and Chief Executive Officer of the Crowley Group, is an American entrepreneur in the wireless, technology and infrastructure-related businesses activities in the United States, Latin America and Central Europe. Crowley's emerging market partners have included The Blackstone Group, the largest private telephone company in Brazil, Lucent Technologies and the Government of Poland in formulating its energy policies to include the deployment of nuclear plants. In 2000, Crowley formed Salmon PCS LLC, which is backed by Cingular Wireless to build and operate next generation cellular networks in metropolitan areas across the United States. From 1987-1994, Crowley was Chairman and Chief Executive Officer of Crowley Cellular Telecommunications Inc. ("CCTI"). By 1991, "CCTI" had become the second largest privately held cellular telecommunications company in America.
Renaissance Lighting, a subsidiary of Advanced Optical Technologies, LLC., is a joint venture of Science Applications International Corporation (SAIC), the largest high technology research company in the U.S. with over $6 billion in annual revenue, and Crowley Technologies, LLC. This venture, in which Crowley is the controlling shareholder, was formed to commercialize optical technologies created during an SAIC research effort to improve laser-guided weapons systems for the U.S. Air Force. USIC member Westinghouse Electric Company oversees the work Thorium conduct in Russia, under a government contract with Oak Ridge National Laboratory . Kurchatov Institute leads a team that includes 500 Russian nuclear scientists, about 300 of them full time, on this project. Scientists working on the program are based at Kurchatov Institute, Siberian Chemical Combine, Bochvar Institute, MSZ Electrostal, and OKBM "Nizhny Novgorod".
Sir Ronald Grierson Co-chairman of the International Advisory Board: banker and industrialist and currently Co-Chairman of The Blackstone Group's International Advisory Board. He has held the positions of Managing Director of S.G. Warburg, Vice Chairman of General Electric (U.K.) and Chairman of GEC International. He has also acted as Deputy Chairman and Managing Director of the U.K. Industrial Reorganization Corporation, as Director-General of the European Commission in Brussels, as Executive Chairman of the South Bank Arts Centre in London, and as advisor to the Secretary-General of the United Nations.
Victor L. L. Chu Chairman of First Eastern Investment Group, a leading investment firm with projects and offices throughout China. He has served as an advisor to the Hong Kong government and as Deputy Secretary General of the International Bar Association. Currently, he is a Foundation Board Member of the World Economic Forum in Geneva and Chairman of the Paris- based ICC Commission on Financial Services and Insurance.
Susan Eisenhower President of the Eisenhower Group, Inc. Ms. Eisenhower has served as President and Chairman of the Eisenhower Institute, an Academic Fellow of the International Peace and Security program of Carnegie Corporation and as director of the Carnegie Endowment for International Peace and the Nuclear Threat Initiative. In the Spring of 2000, she was appointed by the U.S. Secretary of Energy to a blue ribbon taskforce, the Baker-Cutler Commission, to evaluate U.S.- funded non-proliferation programs in Russia. She also serves on the Secretary's Task Force on Nuclear Energy.
Rt. Hon Michael Howard, QC MP
Nancy Lampton: Chair and CEO of Hardscuffle, Inc., the parent of American Life and Accident Insurance Company of Kentucky, for which she holds the identical titles. She is a member of the Board of Directors of the Constellation Energy Group, which owns and operates the Calvert Cliff nuclear power plants in Maryland and Nine Mile Point and R.E. Ginna nuclear power plants in New York, and is a member of Constellation's Committee on Nuclear Power. Lampton served three terms as a Director of The Committee of 200, an organization of leading businesswomen from around the world. Ms. Lampton is also a director of Duff & Phelps Utility Income Fund, Inc, and she is Chair of the Downtown Development Corporation in Louisville, Kentucky.
Tidu Maini, BSc, ACGI, DIC, PhD: Maini is Pro Rector of Imperial College London. He is a senior advisor to Fortis Ranbaxy Healthcare Group, India, and a member of the Joint Advisory Board of Texas A & M Qatar University, the India-U.K. Roundtable, Advisory Board of CSC Europe. He is also a Board Member of the Emirates Foundation chaired by His Highness the Crown Prince of Abu Dhabi and Chairman of the London 2012 Olympic Technology Board.
Simon Murray, CBE: head of General Enterprise Management Services, Ltd., an Asian private equity firm whose advisors include Lord Charles Powell of Bayswater and Henry Kissinger. In addition to founding Simon Murray & Associates, he has served as Executive Chairman of the Asia Pacific division of Deutsche Bank and Chief Operating Officer of Hutchison Whampoa. Mr. Murray also served with the French Foreign Legion from 1960 to 1965 and is the author of Legionnaire. He serves on the advisory boards of numerous multinational companies such as Jardine Matheson, Husky Oil of Canada and Asia Satellite Telecommunications.
Dan Poneman: a Principal of the Scowcroft Group and a well recognized expert in the areas of non-proliferation and nuclear energy. After practicing as an attorney and serving in the Department of Energy, Poneman joined the National Security Council staff at the White House, first as Director of Defense Policy and Arms Control and then as Special Assistant to the President and Senior Director for Non-proliferation and Export Controls. He is the author of several books, including ones on nuclear energy policy and Korea.
Dr. Charles W. Pryor Jr. Currently President and Chief Executive Officer of Urenco Investments, Inc., a partner in LES, which has applied for a license to construct and operate the National Enrichment Facility in New Mexico. Prior to this position, Pryor served as Chairman of the Board of Westinghouse Electric Co., President and CEO of British Nuclear Fuels (BNFL) Utilities Business Group, President and CEO of Babcock and Wilcox (B & W), and Chairman of the B & W Nuclear Fuel Co.
He started his professional career in 1970 with McDonnell Douglas Aerospace Co., where he was responsible for the development of composite materials for the F-15 Fighter. Two years later, he returned to Lynchburg to join B & W, later known as Framatome, Inc. Dr. Pryor grew the B & W business into a successful player in the nuclear power market and led its divestiture to the French company Framatome. In 1991, French President Francois Mitterand presented Dr. Pryor with the distinguished "Chevalier de l'Ordre National due Merite" for developing cooperative business relationships between the U.S. and France.
In 1995 he started C. W. Pryor & Co., a management-consulting firm. Westinghouse's Chairman Mike Jordan recruited Pryor to become President and CEO of Westinghouse Energy Systems and Westinghouse Electric Co. one of only three principal utility suppliers worldwide. In April of 2002, Pryor became President and CEO of BNFL Utilities Business Group and Chairman of the Board of Westinghouse Electric Co., a supplier of nuclear fuel, nuclear services, and advanced nuclear plant designs to utilities operating nuclear power plants. Based in London, Pryor remained in this position until he joined Urenco in October of 2003.
Guy de Selliers In addition to working with Lehman Brothers and the World Bank, he was a central part of the transition team responsible for creating the European Bank for Reconstruction and Development (EBRD). Since then, he has served as Chief Executive Officer of MC-BBL Eastern Holdings and Robert Fleming & Co, Ltd. Mr. de Selliers has also acted as advisor to the European Commission on a number of issues relating to the EU/Russian energy dialogue.
Ernest Steiner Chief Operating Officer for the Louis Dreyfus Group since 1992 and as the Chief Financial Officer and director of the Louis Dreyfus Corporation since 1983. He joined the Louis Dreyfus Group in 1972 as comptroller of the company's real estate business and held various positions in finance and administration until being named finance director of Louis Dreyfus.
John D. Taylor a founder of International Power PLC, has served as the Asian Development Bank's Director of Infrastructure, Energy, Financial Sectors and Private Sector Operations and spent 30 years with Chase Manhattan Bank as senior executive of businesses headquartered in Asia, Europe and the US. He is actively involved today with startups in trade finance, disaster relief, clean water and international consulting.
Ambassador Dennis K. Hays joined Thorium Power, Ltd, as Vice President, Director of Government Affairs and Secretary, in July 2006. Ambassador Hays joined the US Foreign Service in 1976 and served overseas in the Caribbean, Africa and South America. He was twice elected President of the American Foreign Service Association (AFSA). He was the Coordinator for Cuban Affairs at the Department of State from 1993 to 1995 and served as Director of the Office for Mexican Affairs the following year. He was the United States Ambassador to the Republic of Suriname from February 1997 to June 2000.
Andrey Mushakov is Executive Vice President of Thorium Power, Ltd, acting as the primary liaison between Thorium Power and the Kurchatov Institute in Moscow and other Russian entities. Dr Mushakov has the following degrees: PhD in Economics from St. Petersburg State University of Economics and Finance (Russia), MS in Management with excellence (MBA equivalent) from Hult International Business School (formerly the Arthur D Little School of Management) based in Cambridge, MA, where he was enrolled as a recipient of the Russian President’s Scholarship, and BS in Banking and Finance with honors from the Finance Academy of Russia
Board of Directors
Seth Grae has played an active role in all business activities of Thorium Power since the company’s founding. He is a member of the board of directors of the Bulletin of the Atomic Scientists and has served as co-chair of the American Bar Association’s Committee on Arms Control and Disarmament. As a member of the board of directors of the Lawyers Alliance for World Security. Grae helped advise on the drafting of nuclear export control regulations in China and Belarus, and he participated in consultations with the government of India on nuclear power and weapons. He represented Russians who were nuclear scientists, in securing exit visas from the Soviet Union. Grae led the efforts that resulted in Thorium Power becoming one of the first Western companies to contract with Russian nuclear institutes and become one of the first grant recipients from the United States Department of Energy for nuclear non-proliferation related work in Russia.
Grae is a seasoned Washington player who estimates that he spends about 10% of his time on "government relations," better known as lobbying. Faced with entrenched bureaucratic opposition from the Department of Energy, he has wisely sought support from Congress, which provides all of the agency's multibillion-dollar budget. According to CNN Thorium backers on Capitol Hill include Senate Minority Leader Harry Reid (D-Nevada) and Representative Jim Gibbons (R-Nevada), both of whom are especially concerned about safe nuclear-waste disposal because of the federal government's plan to build a central waste repository underneath Nevada's Yucca Mountain. Other prominent boosters are Senator John Warner (R-Virginia) and Representative Curt Weldon, a Pennsylvania Republican and vice chairman of the House Armed Services Committee.
Thomas Graham, Jr. is an expert in nuclear non-proliferation. Amb. Graham has served as a senior U.S. diplomat involved in the negotiation of every major international arms control and non-proliferation agreement for the past 35 years. This includes The Strategic Arms Limitations Talks (SALT Treaties), The Strategic Arms Reduction Talks (START Treaties), The Anti-Ballistic Missile (ABM) Treaty, Intermediate Nuclear Forces (INF) Treaty, Nuclear Non-Proliferation Treaty (NPT), Conventional Armed Forces in Europe (CFE) Treaty and Comprehensive Test Ban Treaty (CTBT). In 1993, Ambassador Graham served as the Acting Director of the U.S. Arms Control and Disarmament Agency (ACDA), and for seven months in 1994 served as the Acting Deputy Director. From 1994 through 1997, he served as the Special Representative of the President of the United States for Arms Control, Non-Proliferation, and Disarmament, and in this capacity successfully led U.S. government efforts to achieve the permanent extension of the NPT. He also served for 15 years as the general counsel of ACDA. Amb. Graham worked on the negotiation of The Chemical Weapon Convention and The Biological Weapons Convention. He drafted the implementing legislation for the Biological Weapons Convention and managed the Senate approval of the ratification of the Geneva Protocol banning the use in war of chemical and biological weapons. He is Chairman of the Board of the Cypress Fund for Peace and Security. He is also Chairman of the Board of Mexco Energy Corporation, an oil and gas exploration company.
Daniel Barstow Magraw is a leading expert on international environmental law and policy. Magraw is President and CEO of the Center for International Environmental Law (CIEL). From 1992-2001, he was Director of the International Environmental Law Office of the US Environmental Protection Agency. He is a member of the US Department of State Study Group on International Business Transactions and was Chair of the 15,000-member Section of International Law and Practice of the American Bar Association. He practiced international law, constitutional law, and bankruptcy law at Covington & Burling in Washington, DC from 1978-1983. Mr. Magraw is a widely-published author in the field of international environmental law.
Alfred Rubin Chairman and CEO of System Automation Corporation, a company he founded in 1968, he provided systems analysis and software development services to Federal agencies and state and local governments. The Company’s clients include Federal agencies such as DOD, State, NRC, and NIH, and over twenty US States.
Harold Welch From 1979 to 1990, Welch was Chairman and President of Yale New Haven Medical Center, Inc. From 1990 to 1999, he was Chairman of the Board of the South Central Connecticut Regional Water Authority, of which he was a member since 1978. Mr. Welch also was a member of the Board of Biocraft Laboratories, Inc., a New York Stock Exchange listed generic drug company.