The concept for this type of nuclear reactor was developed by the scientists Otis Peterson and Robert Kimpland of the Los Alamos National Laboratory (LANL) in New Mexico.
[3] Dr. Otis G. Peterson received a Federal Laboratory Consortium Award in the notable technology development category for this reactor concept in 2002.
[4] This technology has since been licensed exclusively to Hyperion Power Generation, under a technology-transfer program and a co-operative research and development agreement (CRADA) with the Los Alamos National Laboratory.
The only hazards are those of all nuclear materials, namely those of radiation, but this is significantly mitigated by the fact that the reactor design is intended to be buried underground and only dug up for refueling every five years, at which point, assuming proper safeguards are used, exposure to radioactivity is a comparatively trivial concern.
Reprocessing of spent fuel is simplified and more economical for the hydride reactor design, because the so-called process of zone refining can be used for separation.
Costs are projected to be competitive with other established sources of energy, like coal, conventional nuclear, and natural gas.
The HPM technology is being developed and commercialized by Hyperion Power Generation, Inc. Hyperion is targeting the volume market for small to medium-sized applications in remote areas for industrial installations and residential installations serving 20,000 (typical US) to 100,000 (typical non-US) households.
The company wants to mass-produce the units in a factory, deliver them by truck and take them back for re-processing after 5 to 10 years (depending on power drain).
[citation needed] However, in November 2009, Hyperion Power Generation decided to use a different lead-cooled fast reactor design for its power module, based on uranium nitride, citing the long development and regulatory licensing process for the uranium hydride reactor design.