Chyros Power tells Virginia authority it has broken ground and accelerated NRC reviews for Hermes test reactors

Chyros Power has broken ground on its Hermes test reactor site and reported a faster-than-expected pace on Nuclear Regulatory Commission (NRC) reviews, company regulatory chief Peter Hastings told the Virginia Nuclear Authority.

Hastings, vice president for Regulatory Affairs and Quality, said Chyros secured 12 NRC topical reports and obtained the Hermes construction permit after an expedited review; the company submitted a Hermes 2 application whose safety review finished months ahead of schedule. "We submitted and got approval of 12 topical reports," Hastings said. "The construction permit for Hermes was a real success ... our permit wasn't issued until December of 2023 but that's still sort of record‑breaking performance."

The company described an iterative technology and test strategy that Hastings said reduces cost and regulatory uncertainty. Chyros ran a non‑nuclear engineering test unit (ETU) in Albuquerque containing about 30,000 surrogate fuel pebbles for roughly 2,000 hours and plans successive iterations (ET2, ET3) before the Hermes series of test reactors. "We're schedule driven to produce a commercial demonstration platform in the early 2030s," Hastings said. He described Hermes as a ~35‑megawatt test reactor, followed by a second 35‑megawatt Hermes 2, then a commercial‑scale plant.

Hastings credited the company's approach and cooperative NRC engagement for shortening schedules. He said Chyros worked with NRC staff to create application formats tailored to its non‑light‑water design rather than defaulting to guidance for conventional reactors, and he emphasized producing topical reports early to remove technical risk from licensing timelines.

Hastings also described Chyros's vertical‑integration strategy—machining graphite, prototyping fuel pebbles and starting on salt production—to lower costs and shorten supply chains. He said the company had a milestone‑based contract with the U.S. Department of Energy's Advanced Reactor Demonstration Program (ARDP) as a tier‑2 awardee and that DOE had remained largely hands‑off in licensing execution. "We held out for a commercial milestone‑based contract ... when you meet that milestone you get paid," Hastings said.

Company officials told the Authority they are building at the East Tennessee Technology Park (the former K‑33 gas diffusion plant area) and that ET3 construction experience in Oak Ridge will be used to refine commercial assembly processes. Hastings said the Hermes construction permit and subsequent Hermes 2 reviews show advanced reactors can be licensed effectively under current NRC frameworks (Part 50), with a later pivot to Part 52 once standardized designs emerge.

The presentation closed with Hastings highlighting environmental‑justice aims and a preference for repurposing existing industrial sites rather than greenfield construction. He offered to answer technical questions from Authority members and stayed for a follow‑up exchange on regulatory process drivers and DOE's role.

Next steps: Chyros said it expects final environmental assessments for Hermes 2 to be issued shortly and that construction and licensing milestones will advance through the rest of the year, subject to NRC processes.