Reactor License Renewal Triggers Uranium Demand Surge😍

This is Nuclear Update. We distill nuclear news into powerful insights – like extracting energy from enriched uranium.

This is what we got for you this week:

• Reactor License Renewal Triggers Uranium Demand Surge😍

• Singapore and Sweden Signs Nuclear Cooperation Pacts with US🤝 

• Australia Risks Missing Out on Nuclear Boom🕵️‍♀️

• Construction Begins on Advanced Gen IV Nuclear Reactor👷

Reactor License Renewal Triggers Uranium Demand Surge😍

The US Nuclear Regulatory Commission (NRC) has renewed the operating licenses of Comanche Peak units 1 and 2 for an additional 20 years. These pressurized water reactors, which began operating in 1990 and 1993, will now have licenses expiring in February 2050 and February 2053, respectively. Nearly all US nuclear reactors have sought similar extensions. This marks the third extension for Vistra’s plants, following Beaver Valley and Davis-Besse. Vistra's CEO, Jim Burke, highlighted the need for reliable power as demand rises and the country shifts to cleaner energy. The renewal will also add 1.2 million pounds of uranium demand annually for the next 20 years. Located in Texas, Comanche Peak supports over 600 employees and pays more than USD 30 million annually in state and local taxes, significantly benefiting the local economy.

Singapore and Sweden Signs Nuclear Cooperation Pacts with US🤝

Singapore and the US have signed a 30-year agreement to enhance the understanding and safety of nuclear reactors. This collaboration aims to provide Singapore with access to detailed nuclear technology information, allowing for international cooperation on nuclear safety and technology. Additionally, Sweden and the US have inked a pact to strengthen cooperation in nuclear energy, focusing on policy development, research, and innovation. This agreement is part of a broader strategy to expand nuclear power capabilities by 2045, supporting the global transition to cleaner energy sources. Both agreements underscore a commitment to advancing nuclear energy while addressing safety and sustainability concerns, reflecting growing international efforts to meet rising energy demands with reliable, clean power.

Australia Risks Missing Out on Nuclear Boom🕵️‍♀️

Uranium miners, including Paladin Energy and Deep Yellow, warn that Australia may miss out on the nuclear fuel boom due to restrictive policies. Although Australia has nearly a third of the world's known uranium ore deposits, only South Australia and the Northern Territory allow mining. Currently, only two projects operate in South Australia. Canada, the US and other countries are heavily investing in nuclear fuel production, causing a surge in uranium prices and benefiting miners in supportive regions. Australian miners argue that without policy changes, they cannot fully participate in this market, potentially losing significant economic opportunities and substantial tax revenues for the government.

Construction Begins on Advanced Gen IV Nuclear Reactor👷

The first Generation IV nuclear reactor in US, the Hermes Low-Power Demonstration Reactor, has begun construction in Oak Ridge, Tennessee. Approved by the US Nuclear Regulatory Commission, this reactor will use fluoride salt coolant, aiming for safer and more efficient operation compared to traditional reactors. Scheduled to be operational by 2026, Hermes will demonstrate cost-effective nuclear heat production, with plans for future electricity generation. This project highlights significant advancements in nuclear technology, emphasizing modular construction and innovative safety features to address climate and energy challenges, supporting cleaner and more sustainable power generation.

Nuclear Nuggets🧽

Life of Indian Rajasthan Atomic Power Station third unit(RAPS 3) extended by 30 years, following a major renovation and modernisation of the nuclear reactor, which has been generating electricity for more than two decades.

Rolls Royce’s small modular reactor design moved a step closer to fruition on Tuesday as the UK nuclear regulator said it had completed the second stage of its assessment of the technology.

Chinese nuclear expansion continues with two new construction starts. Both plants will use Chinese indigenous Hualong One reactor technology.

Another plan to site a data center next to an existing nuclear power plant as Dominion Energy looking at connecting data center directly to Connecticut nuclear plant.

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.