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Well, thank you very much for having me, Alexis.

It's a good question because the sort of new area of nuclear, it caters towards a sort of a broader range of applications now. So you've seen big civil nuclear power plants powering cities, but now we're in a position where we can power smaller things: chemical plants, industrial centers, data centers, AI centers. And even if you go smaller, you can be looking at remote operations for things like mining sites, oil and gas, military bases, disaster relief areas, island communities. So it is a new wave of sort of nuclear energy and a new range of applications now it can cater for.

Absolutely. So it's a good question. So fortunately, the fission, the key part of any nuclear reactor, I mean that is the same process that occurs in a big civil nuclear power plant, but things like the coolant would change or the type of fuel that would change. But the fission event is what creates that heat that gets converted to electric that powers things. In our, say, our Kronos reactor, that is a high temperature gas reactor, very well-known tech, been in operation for 60 years, deployed all over the world, but never at this scale commercially. So for the first time, we're going to be making much smaller reactors. And the reason why we're doing that, too, is that so we can have a production line of these things being produced on a mass scale. And through that methodology, we'll have economies of scale to start driving down the cost of nuclear energy and the timelines for deployment because we won't have big construction and fabrication events at the site. The reactor will be effectively all made at the production line and licensed there and then delivered to site and assembled like a Lego set. So it's a very different prospect to what you've seen in the past. And it's also kind of industry's way of navigating some of the challenges that have befallen larger civil nuclear power plants.

This is a very important thing. I think that we need to keep reiterating to the public in general because I always like to point out that even if you were to take the conventional civil nuclear power plants, and they've been in operation obviously for decades, but you were to look at deaths per gigawatt hour for all types of energy, nuclear beats out even wind and solar in terms of safety already. But these new nuclear power plants, they don't have the worst case accident scenarios that the big civil nuclear power plants have. They could still melt down if there's something like a loss of coolant accident or a depressurized system. But the new type of reactors, especially like our reactor and a lot of other vendors involved in this space, they've got sort of fuels like the TRISO fuel where each fuel pellet has its own containment system. So it can't experience that kind of meltdown that you could see at Fukushima or Three Mile Island. It's just not possible. I mean theoretically even if you were to blow up the reactor with a missile or something like that or a terrorist attack, you would just actually separate the critical mass so the reactor would get less reactive and all of the fuel would be contained. So already the safest form of energy ever devised by mankind made safer still.

The interesting part is that there's sort of this massive resurgent interest in nuclear energy at the moment and obviously we started our business concentrating on applications like small reactors that could cater towards these different places. But as we built, we realized that actually a lot of US industry had atrophied because it had an ability to buy highly enriched final product from Russia and that meant a sort of an underinvestment in the US infrastructure with regard to enrichment and conversion, transportation, all of these different elements. So now the company is taking a look at one, de-risking its own reactor development by involving itself in these different areas amongst the fuel supply chain, but also building up our internal capabilities which gives us the capability to provide consultancy services, transportation services and then also be involved in the build back of that fuel supply chain. So if we win or if our competitors do very well, we would still benefit. So we want everyone to win in this business. It would benefit us as a company greatly.

So we have been talking with the hyperscalers and the tech companies. I mean, it's very interesting. Some of the projections of the amount of power that they actually need are astronomical. And even if they were to find coal or gas or anything like that that could power these centers, they would still need massive grid infrastructure upgrades, which would cost billions and billions of dollars to get into a point where they could outlay the power that they would require. Not to mention gas pipelines and transmission lines. But nuclear they've settled on because it has that high base load power. It can be put anywhere. It doesn't need the grid necessarily because you could collocate with nuclear. And so the tech industry, it's not an advocate for nuclear inherently, but it's been pushed into our direction and it's sort of settled on the long-term strategy will need to have a big nuclear component because even if you were to have, you know, all the wind and solar you could manage, those are still locationally dependent energy systems that don't have high base load. That would still need very expensive and expansive storage capacities. So just by default the tech industry has sort of found nuclear and is investing very heavily into that space because it needs to de-risk its own future and by investing in nuclear it can do that.