[en] The Netherlands Programme to Intensify Nuclear Competence (PINK, abbreviated in Dutch) supported the technical and economical evaluation of a direct cycle High Temperature Reactor (HTR) installation for combined heat and power generation. This helium cooled, graphite moderated HTR based on the German HTR-M, is named INCOGEN (Inherently safe Nuclear COGENeration). The INCOGEN reference is a 40 MW HTR design by the US company Longmark Power International (LPI). The energy conversion system comprises a single-shaft helium turbine-compressor (2.3-1.0 MPa) directly coupled with a 16.5 MW generator, a recuperator and low-temperature (150C to 40C) heat exchangers (23 MW). Spherical fuel elements (60 mm diameter) will be added little by little, which keeps the core only marginally critical. Void core volume can accommodate added fuel for several years until defuelling. Analyses of failure scenarios (loss of coolant accident or LOCA, loss of flow accident or LOFA, anticipated transient without scram or ATWS) show no excess of maximum acceptable fuel temperature of 1600C. Scoping analyses indicate no severe graphite fires. Transient analyses of the turbine-compressor system indicate adequate control flexibility. Optimization and endurance testing of the helium turbine-compressor is recommended