I hear a lot about the LFTR, and I wonder what the problem is. Is there a major technical hurdle that prevents this from seeing widespread use? Sometimes there is, sometimes there isn't. Sometimes a really good idea never gets used because... well... because nobody really picks it up and runs with it. It's that simple sometimes. But sometimes there's some hidden gotcha.
My understanding is that building the reactors are significantly more expensive. So until the price of Uranium increases enough to justify the total cost of the Thorium reactors, we won't see many of them outside research settings. The other issue is building a new reactor of any type right now is a giant pain in the ass, which doesn't help either.
LWRs are resupplied every year with expensive fabricated fuel rods, which are non-standard and can only be purchased from the company that sold the reactor. The fuel rods are complicated because they have to withstand a thousand-degree temperature gradient, and the fuel pellets are prone to cracking from the production of xenon gas. Xenon and other reaction products prevent the use of more than one percent or so of the energy potential of the nuclear fuel, another reason the rods are frequently replaced, and the reason we have so much nasty nuclear waste.
The nuclear industry makes most of its revenue from selling those fuel rods.
LFTRs operate at atmospheric pressure. No super-strong steel, no containment dome, no ice. It's a liquid fuel, so no proprietary fuel rods. Xenon just bubbles out of it.
The fuel has a strong "negative coefficient," meaning the reaction slows down as it gets hotter. If it nevertheless gets too hot, a salt plug melts and all the fuel drains into a passive cooling tank. No need for all those active cooling systems.
On top of that, LFTRs operate at higher temperature, so the turbine is more efficient, and the waste heat can be used to desalinate seawater. They don't require water cooling. As a bonus, marketable reaction products can be separated from the liquid fuel (http://flibe-energy.com/products/).
Misguided government regulation is the main problem, but Sorenson's company plans to get around that by selling to the military first.