Canadian engineering firm predicts Nuclear Super Cycle💰

This is Nuclear Update. Your weekly dose of nuclear energy news, carefully enriched to fuel your curiosity and power your knowledge.

This is what we got for you this week:

• AtkinsRéalis Predicts $2B Business Surge in Nuclear "Super Cycle"💰

• Cancelled nuclear speech in Australia enrages politicians and engineers😡

• Estonian Parliament Votes To Develop Nuclear🗳️

• Bill Gates Says He’s Ready to Put Billions Into Nuclear Power🤑 

AtkinsRéalis Predicts $2B Business Surge in Nuclear "Super Cycle"💰

Canadian engineering firm AtkinsRéalis expects to double its nuclear business within three years, increasing revenues from approximately $1 billion in 2023 to between $1.8 billion and $2 billion by 2027, driven by refurbishments of aging CANDU reactors. CEO Ian Edwards sees further potential from new reactor sales, like the in-development Monark model, and highlights a global shift towards nuclear energy to meet climate goals. The company is under contract for 10 refurbishments, mainly in Ontario, and anticipates more deals in Canada, South Korea, and China. Edwards stresses the importance of government backing and overcoming the industry’s history of cost overruns.

Cancelled nuclear speech in Australia enrages politicians and engineers😡

The cancellation of Rob Parker's speech on nuclear energy has ignited significant controversy among engineers and conservative politicians. The speech, titled “Avoiding an energy blunder Down Under,” was to be delivered at a conference with over 400 attendees. Pressure from renewable energy advocate Simon Holmes à Court led to its cancellation, prompting accusations against Engineers Australia of politicizing the issue by silencing a nuclear energy advocate. This incident highlights the ongoing tension and debate over nuclear energy's role in Australia's energy future, emphasizing the challenges in balancing different energy perspectives and the influence of external pressures on policy discussions.

Estonian Parliament Votes To Develop Nuclear🗳️

The Estonian Parliament has passed a resolution supporting the adoption of nuclear energy, following a thorough analysis by the Nuclear Energy Working Group deeming it feasible. The resolution calls for drafting the Nuclear Energy and Safety Act, updating legislation, and establishing a regulatory body for safe nuclear energy use. The resolution, however, does not authorize building a nuclear plant, requiring thorough risk assessments first. The vote saw 41 in favor, 25 against, and two abstentions.

Bill Gates Says He’s Ready to Put Billions Into Nuclear Power🤑 

Bill Gates is committing billions to TerraPower LLC, his startup, to develop a next-generation nuclear power plant in Wyoming, addressing the rising US power demands. TerraPower, founded by Gates, recently started constructing its first commercial reactor on the site of a closing coal plant. Established in 2008, TerraPower aims to complete this new reactor by 2030, despite initial plans for a 2028 launch being delayed due to the need to source fuel domestically instead of from Russia.

The innovative reactor design uses liquid sodium as a coolant and molten salt for heat storage, enhancing output. Backed by the US Department of Energy, the plant will use fuel from the US and allies.

Nuclear Nuggets🧽

Officials have estimated that the world needs to spend $5 trillion to triple nuclear-power generation over the next 25 years.

The US Senate is voting next week to on the ADVANCE Act which seeks to grow the Nuclear workforce and streamline the licensing process for advanced reactors.

Italian energy company targets Britain for fleet of 20 mini-nukes. Newcleo wants to build plutonium-powered reactors close to energy-intensive industries.

Meme of the week🤣

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.