IX Power Names Dr. Otis (Pete) Peterson Chief Nuclear Reactor Designer

LOS ALAMOS, NEW MEXICO, June 18, 2012 — IX Power CEO John R (Grizz) Deal announced today that Dr. Otis (Pete) Peterson has been named Chief Nuclear Reactor Designer at the firm. According to Deal, Dr. Peterson’s first assignment in his new role will be to lead a global team evaluating medium-size nuclear reactor designs for commercialization by IX Power.

Dr. Peterson was a co-founder and the Chief Technical Officer (CTO) at Hyperion Power Generation (now Gen4 Energy), which was founded in May 2007 by Deal, Peterson, Dr. Robert L. (Bob) Libutti, and Deborah Deal-Blackwell. Peterson’s revolutionary work in small reactor designs laid the foundation for Hyperion Power’s product offering which provided many in the United States, including members of Congress, with their first introduction to what would come to be known as SMRs: Small Modular Reactors.

In September 2011, Peterson, along with the other Hyperion Power co-founders plus Randall Wilson, former CFO and COO of Technology Ventures Corporation (TVC) formed IX Power to commercialize safe power and clean water technologies from U.S., U.K., and Russian national Laboratories.

“We are obviously pleased Dr. Peterson can focus 100% of his efforts on IX Power now,” said IX Power companies CEO John R. (Grizz) Deal. “His contributions and efforts to the nuclear power industry are one of the principal reasons there is now a modern, commercial Small and Modular Reactor (SMR) category of nuclear power plants.”

Since the inception of IX Power last summer, Dr. Peterson has been focused on evaluating and validating dozens of innovations at Los Alamos National Laboratory (LANL). IX Power has a long-term Cooperative Research and Development Agreement (CRADA) with LANL for power and water technologies and is launching three LANL innovations during 2012 as fully developed products.

IX Power and the IX Power Foundation were formed to jump-start solutions to the global need for safe power and clean water. Bringing an experienced world-class team and technologies from U.S., U.K., and Russian national laboratories, the company is incorporating both fresh and proven innovations to create advanced solutions that can be rapidly developed and deployed. The IX Power team has been commercializing new technologies for over 20 years; turning ideas into products, securing “lead-launch” customers, and providing a platform to grow product lines into complete enterprises.

The company is based in Los Alamos, New Mexico, U.S.A. Its international headquarters is located in London and run by Dr. Edward (Ned) Swan.

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