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IAEA’s Rafael Grossi in Iraq to market nuclear reactors

IAEA to Help Iraq Develop Peaceful Nuclear Program, Agency Head Says ,  https://english.aawsat.com/business/4917976-iaea-help-iraq-develop-peaceful-nuclear-program-agency-head-says%C2%A0 20 Mar 24

The head of the International Atomic Energy Agency Rafael Grossi met Iraq’s prime minister in Baghdad on Monday as part of a visit to help the country develop a peaceful nuclear program.

“We have discussed several projects in Iraq, including building a nuclear reactor for peaceful purposes,” Iraqi Education Minister Naim al-Aboudi told reporters following a meeting between Grossi and Iraqi Prime Minister Mohammed Shia al-Sudani.

Grossi said that a team of Iraqi experts would visit the agency’s headquarters in Vienna in a few days to hold meetings to “set out a road map for the Iraqi peaceful nuclear program” amid growing interest in nuclear energy in the region.

“We see that in the (United Arab) Emirates, we see that in Egypt … and of course we should see it here in Iraq,” Grossi told reporters.

Iraq in the past had three nuclear reactors in Tuwaitha, its main nuclear research site, south of Baghdad. One was destroyed by an Israeli air raid in 1981 and the two others by US warplanes in the 1991 Gulf war that followed Iraq’s 1990 invasion of Kuwait.

“Definitely, turning the page on this complex past is of the essence and we’re doing just that,” Grossi said.

March 22, 2024 Posted by | Iraq, marketing | Leave a comment

U.S. government continues to pour $billions into the failing Small Nuclear Reactors business, in the hopes of exporting SMRs

The US Department of State and US Export-Import Bank (EXIM) have announced
a suite of financial tools to support the deployment of advanced nuclear
energy systems to help reach net-zero goals. They also announced plans to
mobilise more than USD4.2 billion of investment in enrichment and
conversion capacity through the five-nation Sapporo 5 collaboration.

 World Nuclear News 7th Dec 2023

https://www.world-nuclear-news.org/Articles/US-takes-steps-to-jump-start-overseas-SMR-deployme

December 10, 2023 Posted by | marketing, USA | Leave a comment

By excluding Russia from markets in Europe, USA ‘s nuclear industry plans to sell its small and large nuclear reactors to Poland,Romania, Slovakia, Estonia, the Czech Republic and Ukraine

in April, the U.S. announced financing of up to $4bn to deploy U.S. small modular reactors (SMRs) in Poland.

the Export–Import Bank of the United States and the Development Finance Corporation) should take on more financial risk

Domestic market stagnation requires US nuclear companies to explore the growing export market.

1 Can the U.S. export its Nuclear plants to Europe, starting with Poland?

June 23, 2023 by Matt Bowen and Sagatom Saha

The exclusion of Russia from Europe’s energy future opens a door for the U.S. to export its nuclear plants, explain Matt Bowen and Sagatom Saha at the Center on Global Energy Policy. That’s why, in April, the U.S. announced financing of up to $4bn to deploy U.S. small modular reactors (SMRs) in Poland. A successful deployment there could lead to the same in Romania, Slovakia, Estonia, the Czech Republic and Ukraine,..

, the U.S. needs to create the “one stop shop” that Russia has always offered. Financing is a priority, and the authors point at what’s missing right now. In particular, the overseas investment arms (like the Export–Import Bank of the United States and the Development Finance Corporation) should take on more financial risk than they’ve needed to in the past. Coordination, too, between the knowledge bases and expert staff in the various arms will avoid duplication of effort and accelerate project assessments. And it would help if the U.S. deployed more nuclear at home: only two new reactors have connected to the U.S. power grid this century.

United States civil nuclear diplomacy is back on the move. In April, the Export–Import Bank of the United States (EXIM) and the Development Finance Corporation (DFC) announced financing of up to $3 billion and $1 billion, respectively, to deploy US small modular reactors (SMRs) in Poland.[1] SMRs — smaller, more uniform designs intended to be factory-manufactured to lower nuclear energy costs — have benefited from congressional support and interagency interest in the Biden administration. This follows the Trump administration’s reversal of a legacy prohibition on DFC funding of US nuclear energy exports.

The US is exploring the growing export market

Domestic market stagnation (only two new reactors have connected to the US power grid this century) requires US nuclear companies to explore the growing export market.

Russia has dominated the nuclear energy marketplace, but its invasion of Ukraine has damaged its diplomatic standing and widened the opportunity for US companies. However, the window will not remain open indefinitely, and progress will hinge upon US agencies arranging financing packages that turn diplomatic handshakes into cement in the ground in Poland and elsewhere.

The Polish opportunity

With EXIM Bank and DFC having just signed letters of intent to support the deployment of the GE-Hitachi BWRX-300 SMR with Orlen Synthos Green Energy as the most recent example,[3] Poland has been the epicentre of the revival of US commercial nuclear diplomacy.

The 2020 US-Poland Intergovernmental Agreement (IGA) on nuclear energy cooperation[4] was a political commitment, and in 2021 the US Trade and Development Agency funded a front-end engineering (FEED) study for potential deployment of a AP1000 nuclear power plant.[5] These developments likely facilitated Poland’s selection of the Westinghouse AP1000 for large reactor builds in 2022.[6]

Separately, Poland-headquartered mining company KGHM announced a plan in 2023 to deploy modular reactors designed by the US company NuScale Power, and in April submitted an application to the Polish Ministry of Climate and Environment to build NuScale SMRs in Poland.[7]

Successfully deploying both large-scale reactors and SMRs in Poland could accelerate progress throughout a region (Romania, Slovakia, Estonia, Czech Republic, and Ukraine)………Poland’s neighbours have, in some cases, handshake agreements to adopt US nuclear technologies. For example, at the 2021 United Nations Climate Change Conference in Glasgow, US special presidential envoy for climate John Kerry and Romanian president Klaus Iohannis jointly announced Romania’s intention to build NuScale SMRs. A May 2023 announcement at the G7 Leaders’ Summit included support for the Romanian SMR project of up to $275 million from the United States, Japan, Republic of Korea, and United Arab Emirates, as well as Letters of Interest issued by EXIM and DFC for potential support of up to $3 billion and $1 billion for project deployment – similar to the potential package for Poland.[8] US diplomatic efforts also contributed to the Czech Republic at least excluding Russian and Chinese companies from a tender to build a new reactor that will entail roughly $6.6 billion of investment into the country.[9]

Financing the deal

For all of the announcements, there are no done deals just yet. Part of Russia’s competitive edge in the past has stemmed from the ability of Rosatom, its state-owned enterprise, to offer a “one-stop shop” including favourable financing terms that private sector companies cannot match alone.[10] The United States will ultimately have to grapple with this challenge if it expects to be competitive in international markets.

…needs a “one stop shop” like the Russians have

To date, the US playbook in Poland has consisted of an IGA demonstrating US political commitment and an intent to finance; funding for FEED work from USTDA; and now, letters of intent from EXIM Bank and DFC. The process has been improvised and tactical, but it could be replicated elsewhere as part of a long-term, sustainable approach. The missing piece at the end — US government financing agencies’ ability to quickly finalise deals — could make the difference, especially as the United States competes with Russia and China for reactor supply deals.

The US may be able to improve the efficiency and terms of its reactor export financing offers to other countries through measures such as:

Considering improvements in staffing and interagency coordination at the DFC.………………..

  • Exploring DFC equity scoring. Potential customer countries are eager for DFC equity investment in nuclear deals, but according to federal budget rules, the DFC must score its equity investments entirely as a loss with no expectation of returns — essentially as a grant.[11] This may be discouraging the DFC from exercising its ability to make equity investments, especially in capital-intensive nuclear projects.
  • Evaluating EXIM Bank’s processes. EXIM Bank is subject to a statutory 2 percent default rate cap, which requires the bank to virtually freeze lending if exceeded.[12] Senior EXIM Bank officials have identified the cap as an impediment to pursuing slightly riskier projects — specifically to compete with China…………………
  • Enlisting the DOE Loan Programs Office (LPO). The DOE LPO, with new funding and leadership under the Biden administration, has become an influential player in government energy financing.[14]…………………….  https://energypost.eu/can-the-u-s-export-its-nuclear-plants-to-europe-starting-with-poland/

June 26, 2023 Posted by | marketing | 5 Comments

United Arab Emirates keen to become an exporter of nuclear reactors and nuclear technology

ABU DHABI, 23rd June, 2023 (WAM) — H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, visited Barakah Nuclear Energy Plant to view the latest developments of Unit 4, the final unit at the plant approaching commercial operation, and praised Emirati competencies that contributed to developing nuclear energy sector technologies to export globally.

Sheikh Hamdan was received by Mohamed Ibrahim Al Hammadi, Managing Director, and Chief Executive Officer of the Emirates Nuclear Energy Corporation (ENEC); and Ali Al Hammadi, Chief Executive Officer of ENEC’s subsidiary Nawah Energy Company (Nawah); as well as a delegation from ENEC’s senior management.

At the beginning of his visit, Sheikh Hamdan inaugurated the state-of-the-art Nuclear Reactor Operators Training Centre, which will enhance nuclear reactor operators’ expertise, and was briefed on the “Orchid” digital reactor room, which provides advanced maintenance training for engineers without entering the reactor area.

Sheikh Hamdan bin Zayed then toured the simulation training centre, which is one of the largest and most modern simulation training centres in the world. He also heard from Emirati engineers on the Plant’s developments and achievements, the latest of which was the operational readiness preparations for Unit 4, the fourth and final unit at the Barakah Nuclear Energy Plant in Abu Dhabi…………………..
 https://www.wam.ae/en/details/1395303172381

June 25, 2023 Posted by | marketing, United Arab Emirates | Leave a comment

China joins the rush to market nuclear power to Turkey

Türkiye in contact with China for planned 3rd nuclear plant’, BY DAILY SABAH WITH REUTERS, JUN 23, 2023 

Türkiye is in contact with China regarding the construction of a planned third nuclear power plant (NPP) and is surveying sites for a fourth, a top ministry official said.

Russia’s Rosatom is building the country’s first nuclear power plant, Akkuyu NPP, in its southern Mersin province, with the first reactor expected to go online next year……………

June 24, 2023 Posted by | China, marketing | Leave a comment

USA marketing nuclear power to Bulgaria

 Westinghouse has signed a front-end engineering and design (FEED) contract
with Kozloduy NPP-Newbuild for the construction of an AP1000 reactor at the
Kozloduy nuclear power plant site in Bulgaria.

 World Nuclear News 15th June 2023

https://www.world-nuclear-news.org/Articles/FEED-contract-signed-for-Bulgarian-AP1000

June 17, 2023 Posted by | marketing, USA | Leave a comment

USA to market small nuclear reactors to Slovakia?

The Ministry of Economy and Slovenské elektrárne have signed a memorandum
of cooperation with a range of partners in the energy field to support the
development of small modular reactors (SMRs) in Slovakia, including
applying for funding from the USA’s Project Phoenix. The other signatories
of the memorandum were US Steel Košice, the Slovak Electricity
Transmission System, VUJE, the Office of Nuclear Supervision and the Slovak
Technical University in Bratislava. There will now be an application for
funding from the US government’s Project Phoenix, which was announced by US
Climate Envoy John Kerry at COP27 last year – it aims to “accelerate the
global clean energy transition by providing technical assistance to support
decision-making on pursuing the conversion of one or more coal-fired power
plants to secure and safe zero-carbon” SMR nuclear energy generation.

World Nuclear News 13th June 2023

https://www.world-nuclear-news.org/Articles/Slovenske-elektrarne-pushes-ahead-on-SMR-plans

June 16, 2023 Posted by | marketing, USA | Leave a comment

Egypt joining IAEA’s Convention on Nuclear Safety, as Russia successfully markets its nuclear industry to Egypt

“……………………… by joining IAEA’s convention on peaceful nuclear safety, Egypt took another step towards implementing its nuclear power programme.

“Egypt has gone a long way towards implementing its first nuclear power plant at El-Dabaa, 320 kilometres northwest of Cairo,” said Awadallah, adding that the plant will have four nuclear reactors that will begin operating between 2028 and 2030.

He noted that these reactors, which generate energy for peaceful purposes, are designed in collaboration with Russia’s state-owned nuclear engineering company, Rosatom, with a capacity of 1.2 GW each.

The construction of the first three reactors has already begun after obtaining approval from the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA).

On 19 November 2015, Egypt and Russia signed an agreement under which Russia will build and finance Egypt’s first nuclear power plant.

The preliminary contracts for constructing the four nuclear reactors were signed, in December 2017, in the presence of Egyptian President Abdel-Fattah El-Sisi and Russian President Vladimir Putin.

The state-owned Rosatom will build the plant and supply Russian nuclear fuel for its entire life cycle.

Russia will finance 85 percent of the cost with a loan of $25 billion, while Egypt will provide the remaining 15 percent in the form of instalments. The Russian loan is repaid over 22 years, with an annual interest of three percent……………………….

The presidential decree on Egypt joining IAEA’s convention on nuclear safety will be submitted for a final vote when Egypt’s parliament – the House of Representatives – reconvenes next Tuesday, 20 June.

June 16, 2023 Posted by | Egypt, marketing, Russia | Leave a comment

Russia trying to market nuclear power stations to Sri Lanka

IAEA studying plans to build nuclear power plant in Sri Lanka, Colombo Gazette, June 15, 2023

The International Atomic Energy Agency (IAEA) is studying Russia’s plans to build a nuclear power plant in Sri Lanka.

Rosatom, the Russian the State Atomic Energy Corporation will help build a nuclear power plant in Sri Lanka.

The Ambassador of Sri Lanka to the Russian Federation, Janita Liyanage, said that the project was approved by the country’s authorities and is now being studied by IAEA specialists.

According to her, there is still a discussion on making the nuclear power plant floating or building it on the ground.

Rosatom will also help train specialists who will work at the nuclear power plants…….

Sri Lanka plans to build its first nuclear power plant with technical support from Russia by 2032……………………..  https://colombogazette.com/2023/06/15/iaea-studying-plans-to-build-nuclear-power-plant-in-sri-lanka/

June 15, 2023 Posted by | marketing, Russia | Leave a comment

China and Russia building most nuclear power plants, – the main goal is to market them to developing countries

China and Russia account for 70% of new nuclear plants

Exports used as diplomatic card while Western nations fall behind

NAOYUKI TOYAMA, Nikkei staff writerJune 11, 2023 

TOKYO — Russia and China are building up an outsized presence in the field of nuclear power, with the countries accounting for nearly 70% of reactors under construction or in planning worldwide.

…………………Notably, 33 of the reactors are being constructed or planned outside each respective country. Russia has the largest number of overseas reactors with 19, and despite growing opposition from Europe and the U.S. following its invasion of Ukraine, it maintains a strong global influence in nuclear power.

In April, Russian President Vladimir Putin participated remotely in a ceremony to mark the arrival of the first fuel at the under-construction Akkuyu nuclear power plant in Turkey………

Russia’s nuclear power diplomacy is extending to other countries as well. In May, Rosatom began full-scale construction on Unit 3 of the Dabaa nuclear plant in Egypt, the country’s first.

Hungarian Prime Minister Viktor Orban met with Rosatom officials this month to discuss the company’s plans to build a new nuclear power plant in the country’s south. Hungary opposes sanctions the European Union has imposed on Rosatom.

“Many developing countries take a positive view of Russia,” Kacper Szulecki of the Norwegian Institute of International Affairs told British scientific journal Nature Energy. Russia’s acceptance of spent nuclear fuel is also attractive to emerging countries.

Meanwhile, China is deepening its engagement with Pakistan………………………………..

China also plans to build a nuclear plant in Argentina…………………………………

The U.S., Japan and Europe are hoping to catch up using small modular reactors (SMRs), considered fourth-generation technology………………………………………..

Another issue is nuclear fuel. Uranium enrichment has become the weak link for Western nations. Enrichment facilities are limited, and Russia is the global leader for that process. In April, the U.S., the U.K., France, Canada and Japan formed a nuclear fuel alliance. While the aim is to shut out Russian fuel from Western reactors, doing so will not be easy.

 https://asia.nikkei.com/Business/Energy/China-and-Russia-account-for-70-of-new-nuclear-plants

June 12, 2023 Posted by | China, marketing, Russia | Leave a comment

Unseemly scramble as makers of small nuclear reactors try to con UK government

NuScale joins Rolls-Royce and Bill Gates in race to build UK nuclear
reactors. A US nuclear developer is poised to join the race to build new
reactors in the UK and has urged the government to go faster in picking a
preferred technology.

NuScale, based in Oregon, said it was “very
active” in the UK market and that it would “engage with the activity
around the government’s SMR competition”.

The UK is running a contest to
find suppliers of small modular reactors (SMRs), which hold the promise of
zero-emission, lower-cost nuclear power as they can be made in a factory
and assembled on site. This reduces the vast overheads of large nuclear
projects.

NuScale is developing an SMR called VOYGR, which is based on a
traditional nuclear design called a pressurised water-cooled reactor. It is
the first SMR to have been certified by the US Nuclear Regulatory
Commission.

The UK government has set up a new body, Great British Nuclear
(GBN), to select new projects. It is aiming to settle on winning SMR
designs by the autumn.

Tom Mundy, president of VOYGR services and delivery,
said NuScale would not require development money from GBN as its project
was ready to deploy. “We don’t need the support that has been suggested
… We’re ready to deliver the project much earlier than GBN has
suggested,” he said. “GBN suggests people could start building SMRs by
2030. That means taking a final investment decision then. That’s too late
for us. We have got customers taking final investment decisions much
earlier,” Mundy added. “Let’s get going.”

NuScale’s rivals in the
race include GE Hitachi, also of the US, and Rolls-Royce, which wants to
win an order in its home market. TerraPower, a start-up founded and chaired
by Bill Gates, has also indicated that it wants to build nuclear projects
in the UK. It has a type of SMR called an advanced modular reactor (AMR) in
development.

Times 4th June 2023

https://www.thetimes.co.uk/article/nuscale-joins-rolls-royce-and-bill-gates-in-race-to-build-uk-nuclear-reactors-z0bhln3qb

June 5, 2023 Posted by | marketing, UK | 1 Comment

Putin bribes ‘friendly nations’ with use of 24-hour ‘floating nuclear power stations’

As war rages on in eastern Ukraine, Russia’s state-owned nuclear energy company Rosatom has announced it will share floating nuclear power plant (FNPP) technology only with “friendly nations” to help supply electricity.

By ALESSANDRA SCOTTO DI SANTOLO 29 May 23

Russia will supply floating nuclear power plant (FNPP) technology to enable around-the-clock supply of electricity to remote areas of allied countries, the Kremlin-linked energy company announced…………………………………………………….. more https://www.express.co.uk/news/world/1775103/putin-floating-nuclear-power-plant-rosatom-russia—

May 29, 2023 Posted by | marketing, Russia | Leave a comment

USA pours $billions into Poland, in effort to market USA’s small and large nuclear reactors to Europe

The Road to US Nuclear Energy Revival May Run through Warsaw

BY Matt Bowen , Sagatom Saha • MAY 23, 2023

United States civil nuclear diplomacy is back on the move. Last month, the Export–Import Bank of the United States (EXIM) and the Development Finance Corporation (DFC) announced financing of up to $3 billion and $1 billion, respectively, to deploy US small modular reactors (SMRs) in Poland.[1] SMRs—smaller, more uniform designs intended to be factory-manufactured to lower nuclear energy costs—have benefited from congressional support and interagency interest in the Biden administration. This follows the Trump administration’s reversal of a legacy prohibition on DFC funding of US nuclear energy exports.

United States civil nuclear diplomacy is back on the move. Last month, the Export–Import Bank of the United States (EXIM) and the Development Finance Corporation (DFC) announced financing of up to $3 billion and $1 billion, respectively, to deploy US small modular reactors (SMRs) in Poland.[1] SMRs—smaller, more uniform designs intended to be factory-manufactured to lower nuclear energy costs—have benefited from congressional support and interagency interest in the Biden administration. This follows the Trump administration’s reversal of a legacy prohibition on DFC funding of US nuclear energy exports………..

The Polish Opportunity

With EXIM Bank and DFC having just signed letters of intent to support the deployment of the GE-Hitachi BWRX-300 SMR with Orlen Synthos Green Energy as the most recent example,[3] Poland has been the epicenter of the revival of US commercial nuclear diplomacy.

The 2020 US-Poland Intergovernmental Agreement (IGA) on nuclear energy cooperation[4] was a political commitment, and in 2021 the US Trade and Development Agency funded a front-end engineering (FEED) study for potential deployment of a AP1000 nuclear power plant.[5] These developments likely facilitated Poland’s selection of the Westinghouse AP1000 for large reactor builds in 2022.[6]

Separately, Poland-headquartered mining company KGHM announced a plan in 2023 to deploy modular reactors designed by the US company NuScale Power, and in April submitted an application to the Polish Ministry of Climate and Environment to build NuScale SMRs in Poland.[7]

Successfully deploying both large-scale reactors and SMRs in Poland could accelerate progress throughout a region (Romania, Slovakia, Estonia, Czech Republic, and Ukraine) that has coal plants in need of retirement by mid-century to meet decarbonization goals. Poland’s neighbors have, in some cases, handshake agreements to adopt US nuclear technologies. For example, at the 2021 United Nations Climate Change Conference in Glasgow, US special presidential envoy for climate John Kerry and Romanian president Klaus Iohannis jointly announced Romania’s intention to build NuScale SMRs. A May 2023 announcement at the G7 Leaders’ Summit included support for the Romanian SMR project of up to $275 million from the United States, Japan, Republic of Korea, and United Arab Emirates, as well as Letters of Interest issued by EXIM and DFC for potential support of up to $3 billion and $1 billion for project deployment – similar to potential package for Poland.[8] US diplomatic efforts also contributed to the Czech Republic at least excluding Russian and Chinese companies from a tender to build a new reactor that will entail roughly $6.6 billion of investment into the country.[9]

Financing the Deal

For all of the announcements, there are no done deals just yet. Part of Russia’s competitive edge in the past has stemmed from the ability of Rosatom, its state-owned enterprise, to offer a “one-stop shop” including favorable financing terms that private sector companies cannot match alone.[10] The United States will ultimately have to grapple with this challenge if it expects to be competitive in international markets.

To date, the US playbook in Poland has consisted of an IGA demonstrating US political commitment and an intent to finance; funding for FEED work from USTDA; and now, letters of intent from EXIM Bank and DFC. The process has been improvised and tactical, but it could be replicated elsewhere as part of a long-term, sustainable approach. The missing piece at the end—US government financing agencies’ ability to quickly finalize deals—could make the difference, especially as the United States competes with Russia and China for reactor supply deals.

The US may be able to improve the efficiency and terms of its reactor export financing offers to other countries through measures such as:…………………………………………………more https://www.energypolicy.columbia.edu/the-road-to-us-nuclear-energy-revival-may-run-through-warsaw/

May 25, 2023 Posted by | marketing, USA | Leave a comment

Romania to be a guinea pig for NuScam’s small nuclear reactor folly

Romania’s NuScale SMR plan gets USD275 million boost WNN 22 May 2023

Funding of up to USD275 million to advance the deployment of a NuScale Power Corporation VOYGR small modular reactor (SMR) plant in Romania was announced at the G7 leaders’ summit by the USA and “multinational public-private partners” from Japan, South Korea and the United Arab Emirates.

……………… EXIM and the US International Development Finance Corporation also issued Letters of Interest for “potential financial support of up to USD3 billion and USD1 billion, respectively, for project deployment”. The announcement was part of the G7 Leaders’ plan to “mobilise USD600 billion in infrastructure investments under the Partnership for Global Infrastructure and Investment”.

……………………… John Hopkins, NuScale Power president and CEO, said: “Support from the Biden Administration and international partners is a signal to energy markets around the world that NuScale SMRs are an important new technology solution to global decarbonisation and that Romania has the capabilities and experience to support its deployment … we are thrilled public-private partnerships are helping deploy our leading SMR technology as soon as 2029.”………………..  https://www.world-nuclear-news.org/Articles/NuScale-s-Romanian-SMR-plan-gets-USD275-million-bo

May 24, 2023 Posted by | 2 WORLD, marketing | Leave a comment

Bill Gates, Rolls Royce, and others, in the scrum to con the UK government into buying useless nuclear reactor minitrash

Rolls-Royce mini-nukes project under threat as Bill Gates eyes bid

Global interest comes as British company scrambles to secure government contract

By Gareth Corfield, 7 May 2023

Bill Gates is eyeing a bid to build Britain’s first mini-nuclear reactor in a direct challenge to Rolls-Royce which is scrambling to secure a government contract. Seattle-based TerraPower, which was founded by the Microsoft billionaire, said it was considering throwing its hat into the ring for lucrative contracts to build Britain’s next-generation small modular reactors or “mini-nukes”.

In a blog post, Mr Gates said the nuclear energy company’s work “has drawn interest from around the globe”, citing agreements with Japan, South Korea and the Luxembourg-based ArcelorMittal steel conglomerate. TerraPower claims its travelling wave reactor design can “operate for centuries with unenriched uranium fuel”. Founded in 2006, the company secured $830m (£657m) in its most recent funding round last summer. Unlike many traditional SMR designs, the company’s plant, called Natrium, uses a molten salt heat storage system that will allow it to rapidly boost its power output at peak times.

Dozens of other nuclear energy startups are competing to bring their designs into
service, with Rolls-Royce competing against the likes of GE-Hitachi, Mitsubishi Heavy Industries and Westinghouse Electric. In March, US company Last Energy, signed a deal to sell 24 small modular reactors (SMRs) to British customers. While Last Energy still needs regulatory approval for its designs, the company expects the first of its SMRs to be operational by 2026 with no government funding required.

Telegraph 7th May 2023

https://www.telegraph.co.uk/business/2023/05/07/bill-gates-bid-britains-mini-nukes-contract-rolls-royce/

May 9, 2023 Posted by | marketing | Leave a comment

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