Japan Advances Nuclear Revival💯

This is Nuclear Update. We keep you updated on nuclear news with the precision of a control rod – steady, reliable, and always in control.

This is what we got for you this week:

• Japan Advances Nuclear Revival💯

• Westinghouse Launches Hive AI🤖

• Progress Report on COP28 Promises🤝

• UAE Power Plant Marks Major Success🏆

Japan Advances Nuclear Revival💯

The Japanese government is moving forward to secure local consent for restarting Tepco's Kashiwazaki-Kariwa nuclear power plant, the world's largest with an 8GW capacity, while also launching a publicity campaign to emphasize its importance in electricity supply.

Meanwhile, Tohoku Electric Power has begun loading fuel into the reactor of Onagawa 2, which has been offline since 2010 and will become the 13th Japanese reactor to restart since Fukushima. It is expected to resume power generation by November 2024.

Despite the 2011 Fukushima disaster, public sentiment toward nuclear energy in Japan remains positive, as nuclear is increasingly seen as crucial for meeting both energy demands and climate goals.

Westinghouse Launches Hive AI🤖

Westinghouse has launched the Hive™ nuclear-specific Generative Artificial Intelligence (GenAI) System, a groundbreaking technology designed to deliver custom AI solutions for the nuclear industry.

The Hive System is expected to improve cost efficiency and scheduling throughout the reactor lifecycle, from design to operations. With over 100 years of proprietary knowledge, Westinghouse’s global team of engineers and data scientists will support customers in optimizing maintenance, inspections, and enhancing the digital user experience.

This innovative system will be applied across various use cases, such as preventive maintenance, nuclear fuel safety, and manufacturing optimization. Westinghouse Chief Technology Officer Lou Martinez Sancho emphasized the system's secure and ethical infrastructure, ensuring compliance with industry standards.

Progress Report on COP28 Promises🤝

At the sold-out World Nuclear Symposium 2024, global efforts to triple nuclear power capacity by 2050 were highlighted, following commitments made at COP28. Countries such as Canada, China, Sweden, and India presented their progress.

Canada is advancing with the refurbishment of nuclear plants and the deployment of small modular reactors (SMRs), which are seen as disruptive in a positive way. China, aiming for carbon neutrality, has recently approved 11 new units, bringing the total to 102 operational or under construction, and aims to have 150 reactors by 2035. Sweden, after political changes, is ramping up nuclear development, leveraging its existing infrastructure and experience. India plans to triple its nuclear capacity by 2030 with both large reactors and SMRs.

Panelists emphasized the need for collaboration between nuclear and other low-carbon technologies to achieve global decarbonization targets, stressing that nuclear energy is essential for reducing emissions, particularly in hard-to-abate sectors like industry.

UAE Power Plant Marks Major Success🏆

The UAE has achieved a major milestone with the commercial operation of the fourth and final reactor at the Barakah nuclear power station, marking the full delivery of a project that now provides 25% of the country's electricity. The Emirates Nuclear Energy Corporation (Enec) hailed this as a historic moment, with Barakah generating 40 TWh of carbon-free energy annually, enough to power 16 million electric vehicles.

This positions the UAE as a leader in decarbonization ahead of its 2030 climate goals. Construction began in 2012, and the project has been a model of efficiency, demonstrating that nuclear energy can be both bankable and scalable (and completed within time and budget).

The UAE is now considering expanding its nuclear program, including small modular reactors and clean hydrogen production.

Nuclear Nuggets🧽

Orano to build multi-billion dollar uranium enrichment plant in Tennessee, U.S.

Korea Hydro & Nuclear Power (KHNP) invest $40 million in Bill Gates’ SMR company TerraPower.

Italy is looking to build nuclear reactors by creating a new company in partnership with a foreign investor.

Dutch and French regulators are starting the licensing process for Thorizon's molten salt reactor.

Memes of the week🤣

Review 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