Urenco Reports Record Enrichment Demand, U3O8 Price to Follow🌟

This is Nuclear Update. We’re the particle accelerator of nuclear news – speeding up your understanding of the latest industry trends.

This is what we got for you this week:

• Urenco Reports Record Enrichment Demand, U3O8 Price to Follow🌟

• China Opens Nuclear Plants for Public 'Nuclear Tourism'👋

• Majority of Americans Now Support Expanding Nuclear Power📊

• DARPA Targets Direct Radiation-to-Electricity Conversion⚛️

• Fire at Unused Cooling Tower at Zaporizhzhia Nuclear Plant😡

Urenco Reports Record Enrichment Demand, U3O8 Price to Follow🌟

Uranium enrichment demand is surging, with Urenco—a leading global provider of uranium enrichment services—reporting a 10.2% increase in its order book, now valued at €16.2 billion. The price of Separative Work Units (SWU), a key indicator for uranium prices, has reached an all-time high of $174 due to rising demand for Western nuclear fuel. This increase impacts the entire nuclear fuel supply chain, from enrichment to uranium (U3O8) procurement. With uranium production lagging behind consumption, prices are expected to rise significantly, especially as new mining projects face long lead times.

China Opens Nuclear Plants for Public 'Nuclear Tourism'👋

China is opening some of its nuclear power plants to the public as part of a "nuclear tourism" initiative. The move is intended to demystify nuclear energy, promote its safety, and improve public support for the nation's expanding nuclear program. Visitors can tour the facilities, learn about nuclear processes, and see reactors in action. The program is part of China's broader strategy to expand its nuclear energy capacity to reduce carbon emissions and meet growing energy demands.

Majority of Americans Now Support Expanding Nuclear Power📊

A recent Pew Research Center survey reveals that 57% of Americans now support expanding nuclear power, up from 43% in 2020, driven by concerns over energy reliability and climate change. Despite this increase, support for solar and wind energy remains higher, though it has slightly declined, narrowing the gap between these renewables and nuclear energy. Republicans show particularly strong backing for nuclear (74%), compared to 44% of Democrats. However, safety, nuclear waste, and cost concerns still persist among the public.

DARPA Targets Direct Radiation-to-Electricity Conversion⚛️

DARPA is exploring a revolutionary approach to nuclear power by directly converting nuclear radiation—high-energy particles and gamma rays—into electricity, bypassing traditional heat-based methods like steam turbines. This method, known as radiovoltaics, could lead to more efficient and compact nuclear power systems. While recent advancements in radiation-resistant materials make this concept increasingly feasible, the development process is expected to be lengthy, potentially taking a long time to mature, possibly even trailing behind the progress of fusion energy.

Fire at Unused Cooling Tower at Zaporizhzhia Nuclear Plant😡

A fire broke out at the Zaporizhzhia Nuclear Power Plant in Ukraine, reportedly following a drone attack on an unused cooling tower. Both Russia and the International Atomic Energy Agency (IAEA) pointed to a drone strike, while Ukraine blamed Moscow. Despite the incident, there was no risk of elevated radiation levels, as confirmed by the IAEA, and it poses no threat to the public, as all reactors are in cold shutdown.

Nuclear Nuggets🧽

Hong Kong’s Clean Energy Future Will Be Mostly Nuclear. Nuclear power will play the largest role in decarbonizing Hong Kong’s energy sector because of it reliability, according to city’s top electricity provider.

“We estimate that nuclear renaissance will be worth $ 1.5 trillion (USD) through 2050, in the form of capital investment in new global nuclear capacity,” says Tim Chan, Morgan Stanley Asia Pacific’s head of sustainability Research.

 Westinghouse Electric Company has produced new fuel pellets that contain higher enrichment levels than what is currently used in commercial reactors to help boost the performance and safety of nuclear plants.

Meme 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.