Princeling Jiang Mianheng, son of former leader Jiang Zemin, is spearheading a project for China’s National Academy of Sciences with a start-up budget of $350m.
He has already recruited 140 PhD scientists, working full-time on thorium power at the Shanghai Institute of Nuclear and Applied Physics. He will have 750 staff by 2015.
The aim is to break free of the archaic pressurized-water reactors fueled by uranium — originally designed for US submarines in the 1950s — opting instead for new generation of thorium reactors that produce far less toxic waste and cannot blow their top like Fukushima.
"China is the country to watch," said Baroness Bryony Worthington, head of the All-Parliamentary Group on Thorium Energy, who visited the Shanghai operations recently with a team from Britain’s National Nuclear Laboratory.
"They are really going for it, and have talented researchers. This could lead to a massive break-through."