We are pleased to announce that ITER selected Cost Engineering as their estimating partner. With over 30 years of experience in estimating capital power projects, we are proud to be part of this unique scientific and technical project.
ITER is a large-scale scientific experiment intended to prove the viability of fusion as an energy source. Currently ITER is under construction in the south of France, but this project is an international effort of seven partners: China, the United States, India, the European Union, Japan, Korea, and Russia. They have gathered their financial and scientific resources to build the biggest fusion reactor in history. ITER will not produce electricity, but it will resolve critical technical and scientific issues in order to take fusion to the point where industrial applications can be designed.
ITER is one of the most complex scientific and engineering projects in the world today. The complexity of the ITER design has already led to a whole range of new and better performing technologies. However, further science and technology are needed to bridge the gap to commercialization of fusion energy.
An important step in bridging this gap is an accurate estimate of the costs of the project. But how do you estimate an unprecedented and complex project like ITER? Material is shipped in from all over the world, labor is conducted in different countries and because of the long-term orientation we have to take into account escalation and contingencies.
Because of Cost Engineering’s years of experience in estimating capital costs in a broad range of industries, ITER asked Cost Engineering to perform the cost estimate of this unique project.
State of the art cost estimation software: Cleopatra Enterprise
As said before, designing and building ITER, the latest and most innovative techniques are used. The same goes for the estimation. The cost estimation software used for this project is Cleopatra Enterprise. Cleopatra Enterprise is developed by Cost Engineering and is used by some of the largest companies in the world.
In line with ITER, at Cost Engineering we are also constantly looking for ways to keep improving and innovating our products and services.
Watch this video to get an impression of ITER and fusion energy:
A selection of user stories from our customers, explaining the value that Cleopatra Enterprise adds to their projects.