3 Apr 2025
In a statement this week, the company explained that the new name, Saltfoss, "reflects the company's inherently safe molten salt technology, which is based on flowing salt to create energy at a massive scale," according to the company. The word "foss" in Old Norse refers to a strong waterfall.
The nomination of former mayor Jacob Bundesgaard to the board comes after recent changes, which included the removal of founder and former CEO Troels Schonfeldt from the board in February and the appointment of a new chairman, Niels de Conninck-Smith.
Additionally, DKK 200 million (USD 29.7 million) was raised from current investors during that month. "With funds in the bank, a strengthened organisation, and a new board, we are excited to move to the next phase," Nyengaard said, adding that Bundesgaard's background in public regulation will be especially significant.
The Danish company has previously announced agreements with Samsung Heavy Industries and Korea Hydro & Nuclear Power (KHNP) for potential manufacturing at Samsung Heavy Industries' shipyard and operation of a floating power plant by KHNP "in the early 2030s".