CORE POWER, led by CEO Mikal Bøe, is spearheading a transformative initiative in the shipping industry through its Liberty program, which focuses on floating nuclear reactors. These reactors, designed to be modular and cost-effective, are positioned as a viable solution to the pressing need for decarbonisation in maritime.

The urgency for change is clear. Thousands of vessels will need replacing by 2040, by which time international shipping will have to be 70% of its way to net zero, the final deadline for which is 2050. With the average ship lifespan being around 25 years, new builds will need to meet stringent emissions regulations, making conventional fuel-powered vessels obsolete.

According to Bøe, alternative fuels such as ammonia and methanol present significant energy inefficiencies and prohibitive costs. Instead, CORE POWER’s floating nuclear technology offers a high-energy-density solution that can ensure long-term sustainability and efficiency for global shipping and beyond.