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Finland's TVO issues green bond to fund nuclear assets
17 May, 2024
Finland’s power company Teollisuuden Voima Oyj (TVO) has issued a seven-year green bond worth $600m ($650m), the net proceeds of which will be used to finance or refinance eligible green projects including nuclear. The bond, with a coupon rate of 4.25% was issued under the company's bond programme and is listed on the Luxembourg stock exchange.

Atomic Canyon and ORNL to develop AI model for nuclear sector
17 May, 2024
California-based startup Atomic Canyon has announced a new project with the US Department of Energy's (DOE’s) Oak Ridge National Laboratory (ORNL), to build a safe, efficient open-source AI (artificial intelligence) model for the nuclear sector. Atomic Canyon will use ORNL’s Frontier supercomputer – the world's fastest supercomputer – to train the company's AI model to understand complex nuclear terminology. Frontier was the first to achieve "exascale" computing performance (a quintillion calculations per second).

AECL, CNL and AtkinsRéalis to collaborate on heavy water production for Candu reactors
17 May, 2024
Atomic Energy of Canada Limited (AECL), Canadian Nuclear Laboratories (CNL), and AtkinsRéalis have signed a memorandum of understanding (MOU) to explore opportunities to collaborate on heavy water production for Candu reactors. Under the MOU, the three organisations will consider working together, as well as with additional strategic partners with the expertise to accelerate technologies, to either produce or upgrade heavy water. This could be used in the commissioning and operation of new Candu reactors in Canada, the construction of which would need significant volumes of heavy water that would require the construction of new facilities in Canada.

Fusion firms Stellarex and IPP join forces on stellarator technology
16 May, 2024
Fusion energy technology development company Stellarex, a spinout of US Princeton University, has signed a memorandum of understanding (MOU) with Germany’s Max-Planck-Institute for Plasma Physics (IPP) that provides a framework for scientific and academic cooperation in developing stellarator-based fusion energy production. Stellarex and IPP will partner in specific areas of fusion energy science and technology, including the optimisation of plasma confinement and power/particle control.

Poland issues decision in principle on Rolls-Royce SMRs
16 May, 2024
Poland’s Ministry of Climate & Environment has issued a Decision in Principle approving Rolls-Royce Small Modular Reactor (SMR) technology. Poland’s Environment Minister, Paulina Hennig-Kloska said she believes the investment would be in the public interest and in line with the country’s energy and climate policies.

Slovak government to draw up plans for new NPP
16 May, 2024
The Slovak government has ordered the economy and finance ministers to draw up a plan for a new 1,200 MWe NPP by the end of October including a selection process for a supplier as well as timing and financing for the project.

UKAEA awards funding for fusion projects
16 May, 2024
The United Kingdom Atomic Energy Authority (UKAEA) has awarded six organisations contracts worth £9.6m ($12m) to advance their concepts to support fusion energy development. The contracts range between £460,000 and £1.9m, and are funded by UKAEA’s Fusion Industry Programme, an initiative launched in 2021 to develop the necessary technology and skills for the future global fusion power plant market.

Energoatom and Hyundai E&C reaffirm co-operation on new build in Ukraine
16 May, 2024
Ukraine’s nuclear utility Energoatom and South Korea’s Hyundai Engineering & Construction (E&C) have signed a memorandum of cooperation (MOC) on the design, construction and commissioning of new nuclear power units in Ukraine. The MOC was signed by Energoatom President Petro Kotin and Hyundai E&C Executive Vice President and Operations Director Choi Young in the presence of Ukraine's Energy Minister Herman Halushchenko and South Korea's Ambassador to Ukraine Kim Hyun-Tae.

Urenco receives permit for new waste store at Almelo
16 May, 2024
Netherlands nuclear regulator, the Authority for Nuclear Safety & Radiation Protection (ANVS - Autoriteit Nucleaire Veiligheid en Stralingsbescherming) has granted the final permit to enrichment company Urenco for the construction and operation of a new radioactive waste storage facility at its Almelo site.

US ban on Russian uranium signed into law
16 May, 2024
President Biden has signed into law HR 1042, the Prohibiting Russian Uranium Imports Act, just two weeks after the bill was passed unanimously by the US Senate. The legislation, which bans the import of Russian-produced low enriched uranium (LEU), will come into effect 90 days after the date of the enactment of the bill, and will remain in effect until the end of 2040. Waivers may be granted to allow the import of limited amounts of LEU, under certain circumstances, until 1 January 2028.

Norway to help Ignalina establish burial point for bitumen radwaste
15 May, 2024
At the Ignalina NPP (INPP), the project Improving the Safety of Radioactive Waste Management at INPP, largely funded by the Norwegian Financial Mechanism, has been completed. The project, which started at the end of 2020, sought to improve management systems, controls and preventive measures during decommissioning, which would minimise the negative impact on the environment, ecosystem and population.

NuScale Power announces first quarter 2024 financial results
15 May, 2024
NuScale says it has implemented a series of strategic initiatives “to better align resources with the Company’s primary objective of transitioning towards commercialisation and revenue-producing commercial contracts”. These actions further long-term financial stability by generating $50 to $60m in annualised savings, starting in the second quarter of 2024.

OKG and Hynion sign contract for hydrogen supply
15 May, 2024
Uniper-owned OKG has signed a contract to supply Hynion's hydrogen gas stations. The hydrogen gas comes from OKG's hydrogen plant, which was established as early as 1992 to be used to cool generators at units 1-3 of Sweden’s Oskarshamn NPP to reduce the risk of stress corrosion cracking of the reactor piping by reducing the amount of free oxygen in the coolant.

ORNL begins examination of GE Vernova's advanced nuclear fuel
15 May, 2024
US Oak Ridge National Laboratory (ORNL) recently started examining several new fuel rods developed by GE Vernova’s Global Nuclear Fuel (GNF). The rods were shipped to the lab from a commercial NPP after completing six years of irradiation. The results from the experiments will be used to support the commercial deployment of high burn-up fuels before the end of the decade.

China achieves breakthrough in nuclear valve technology
15 May, 2024
A stabiliser pilot safety valve engineering prototype jointly developed by China National Nuclear Corporation's (CNNC’s) China Nuclear Power Research & Design Institute and CNNC's Sufa Technology Industrial Company (STIC) has completed seismic identification testing STIC reported. It also passed on-site examination by the Nuclear & Radiation Safety Centre of the National Nuclear Safety Administration and the Nuclear Equipment Safety & Reliability Centre of the Institute of Mechanical Science.

Nuclear certification for Thermal Engineering
15 May, 2024
Thermal Engineering International has announced that it has received Certificates from the American Society of Mechanical Engineers (ASME) Boiler and Pressure Vessel Code to design and fabricate nuclear safety-related components.

Navarro and Deep Isolation team up to advance nuclear waste disposal solutions
15 May, 2024
US Navarro Research & Engineering, and Deep Isolation have entered into a strategic partnership to advance the safe disposal of high-level nuclear waste in deep geologic boreholes. Navarro and Deep Isolation will jointly develop strategies to demonstrate the feasibility of Deep Isolation’s solutions for disposal of high-level waste (HLW) in the US and abroad.

Genkai mayor agrees to site survey for Japan’s final radioactive waste disposal facility
15 May, 2024
The Mayor of Genkai in Japan’s Saga Prefecture, Shintaro Wakiyama has agreed to the central government’s request to conduct a “literature review” for selection as a final disposal site for radioactive waste. A literature review is the first of three steps in the process that will take more than 20 years to select a suitable site. Once a municipality accepts the literature review, it can receive a central government grant of up to JPY2bn ($12.85m). The review will be conducted by the Nuclear Waste Management Organisation of Japan (NUMO). This will involve studying geological and other data over a period of about two years.

NorthStar to take over decommissioning of Vallecitos Nuclear Centre
15 May, 2024
US NorthStar Group Services has agreed to accept transfer of ownership of the GEH Vallecitos Nuclear Centre, in California, from GE Hitachi Nuclear Energy (GEH) for nuclear decontamination, decommissioning, and environmental site restoration. The deal should close after the Nuclear Regulatory Commission (NRC) approves the transfer including licence transfer from GEH to NorthStar and all other conditions.

CPS Energy increases share in South Texas Nuclear Project
15 May, 2024
CPS Energy has entered into an agreement to acquire an additional 2% ownership of the South Texas Nuclear Project (STP) from US Constellation, bringing CPS Energy’s ownership of STP to 42%. Constellation’s ownership will be reduced to 42%, and Austin Energy’s ownership will remain at 16% following the transaction. CPS Energy also entered into a long-term Purchase Power Agreement (PPA) with Constellation for an additional 200 MW of firm capacity that will be available for CPS Energy customers by the summer.