URENCO Ltd.
URENCO Ltd.
10/31/2024 | Press release | Distributed by Public on 10/31/2024 10:53
Big tech nuclear confidence boost to advanced fuels market
Big tech nuclear confidence boost to advanced fuels market
31 October 2024
Announcements from big tech companies that they're embarking on new nuclear partnerships for their energy needs will have a positive, knock-on effect on the advanced fuels market, a panel has been told.
Head of Technical Sales at Urenco, Dr. Magnus Mori, told a symposium at the Massachusetts Institute of Technology (MIT) that announcements from the likes of Google and Amazon provided "comfort" that a market was developing, and developing at pace.
Google recently announced an agreement with Kairos Power whilst Amazon revealed its deal with X-energy to build smaller, advanced reactors to help meet AI and data centre energy demands.
Dr.Mori was speaking at the symposium, No fuel, No party, hosted at the MIT in Cambridge, USA, and elaborated with Urenco's plans for advanced fuels.
Dr Mori told the audience:
"The first thing we're doing is to produce LEU+, uranium enriched up to 10%, at both our US and UK (enrichment) sites, and we will make this commercially available in 2025.
"This is needed for both existing power plants and it can be used for some advanced fuels until high-assay, low-enriched uranium (HALEU) is available.
"The second thing we're doing is building a HALEU fuel facility in the UK for up to 20% enriched uranium.
"And by the early 2030s this supply will be available to support the demonstration and deployment of advanced reactors globally."
Dr. Mori was joined on the panel by representatives from UxC, Global Laser Enrichment and Argonne National Laboratory.
He added that it was in the industry's interests in the long-term to ensure that the advanced fuels' market became based on long-term customer contracts, rather than subsidies.
With regard to the USA, Urenco has been initially selected alongside other companies to provide enrichment services for the production of HALEU on behalf of the U.S. Department of Energy, on an indefinite basis. We are now considering how we will meet U.S. HALEU demand in the light of this.
About Urenco
Urenco is an international supplier of enrichment services and fuel cycle products with sustainability at the core of its business. Operating in a pivotal area of the nuclear fuel supply chain for 50 years, Urenco facilitates zero carbon electricity generation for consumers around the world.
With its head office near London, UK, Urenco's global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Using centrifuge technology designed and developed by Urenco, and through the expertise of our people, the Urenco Group provides safe, cost effective and reliable services; operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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