Industry

Institutional investor BNF Capital has taken a 10.7 percent stake in Lightbridge Corporation, which is developing fuel for small modular reactors and existing light water reactors. BNF Capital is based in London, U.K. Lightbridge is located in Reston, Va.

A creative fan of Lego—and nuclear power—has designed a nuclear power plant out of the famous building blocks and has submitted the idea to the Lego Group for possible production—but first, the idea needs the support of the public.

Framatome and Ultra Safe Nuclear announced on January 26 that they intend to form a joint venture to manufacture commercial quantities of tristructural isotropic (TRISO) particles and Ultra Safe’s proprietary fully ceramic microencapsulated (FCM) fuel.

The companies have signed a nonbinding agreement to integrate their resources to bring commercially viable, fourth-generation nuclear fuel to market for Ultra Safe’s micro-modular reactor (MMR) and other advanced reactor designs.

In a follow-up to A Step-by-Step Guide to Nuclear Innovation Policy, which was released by think tank Third Way in 2016, the Fastest Path to Zero Initiative of the University of Michigan has now published “Young Carla,” an eponymous “prequel” about a fictional nuclear engineering student. Carla was introduced in the 2016 report as a graduate nuclear engineering student with an idea for a new type of nuclear energy technology. The report explained how wise policy decisions in the United States could improve government-private partnerships so that Carla’s idea could be commercially demonstrated.

Oklo said it has submitted a licensing project plan to the Nuclear Regulatory Commission, outlining the company’s plans for preapplication engagement activities that support the future licensing of a used nuclear fuel recycling facility. The first-of-a-kind facility is intended to produce fuel to support the deployment of Oklo’s advanced fission power plants.

NAC International Inc. has completed its acquisition of Philotechnics Ltd., a health physics, radiological services, and waste management company headquartered in Oak Ridge, Tenn., with a satellite facility in San Diego, Calif. The company, now under NAC International ownership, has been renamed NAC Philotechnics Ltd.

Paragon Energy Solutions and Thermo Fisher Scientific have entered into a definitive agreement that grants Paragon a long-term license for the product line of Thermo Fisher’s Gamma-Metrics neutron flux monitoring systems (NFMS). The agreement allows the legacy nuclear reactor customers of service provider Thermo Fisher to more easily purchase spare parts, upgrades, services, and new systems from Paragon, a leading supplier of safety-related products and components for the nuclear industry. This enhanced purchasing ability reduces the risk of obsolete products being used in the operating nuclear fleet.

Kairos Power, an Alameda, Calif.–based advanced reactor developer, announced yesterday that it has been named to Cleantech Group’s list of the 100 most innovative and promising private companies in the cleantech sector for 2023. Cleantech Group is a research and consulting services firm headquartered in San Francisco.

Tokamak Energy announced today that it has signed an agreement with Furukawa Electric Co., of Tokyo, Japan, and the Furukawa Electric Group's SuperPower Inc, of New York, for supply of several hundred kilometers of specialist high temperature superconducting (HTS) tape for Tokamak's new advanced prototype fusion device, ST80-HTS.

The Department of Energy’s National Nuclear Security Administration’s Minority Serving Institution Partnership Program (MSIPP) has issued a funding opportunity announcement (FOA) titled "Community and Junior College Trade Occupation Program." The FOA encourages grant applications from tribal and minority serving community and junior colleges that diversify student and faculty populations, enhance training programs in trade and skilled labors, and increase the capacity of the NNSA's nuclear security enterprise workforce.

Eligible tribal and minority serving community and junior colleges have until February 17, 2023, 11:50 p.m. EST to respond to the FOA with proposals.

Here is a recap of industry happenings over the past month:

ADVANCED REACTOR MARKETPLACE

X-energy enters into agreement to become publicly traded company

X-energy, a developer of small modular reactors and nuclear fuel technology, has entered into a definitive business combination agreement with Ares Acquisition Corporation, a publicly traded special-purpose acquisition company. As a result of the agreement, X-energy will become a publicly traded company, a status that is expected to give a boost to its growth strategy, investment opportunities, and financial flexibility. In addition, X-energy will receive differentiated sponsorship by Ares Management Corporation, which describes itself as a “leading global alternative investment manager.” The existing equity holders of X-energy are expected to hold more than 60 percent of the issued and outstanding shares of the common stock of the combined company. The transaction is expected to be finalized in the second quarter of 2023.

Steven Arndt
president@ans.org

It has always amazed me how broad and diverse the nuclear science and technology field is. It is one of the things that drew me to the nuclear business in the first place. The American Nuclear Society, with its eighteen technical divisions, embraces this diversity from accelerator applications and space nuclear to isotopes and robotics. We are truly a disparate group of engineers and scientists. Based on this, I guess I should not be surprised by the renewed interest we are seeing in uses of nuclear energy beyond the generation of electricity. In recent years, engineers and scientists from all around the world have focused on reducing the impact of electric energy generation on the environment and on finding ways to also reduce the impact of other industrial processes. What I have been seeing—including at COP27—is a renewed interest in nuclear power not only for electric generation but also for its unique capabilities in a diverse set of applications. To name only a few, I have seen strong interest in desalinization, hydrogen generation, process heat, and district heat.

Sarah Camba Lynn

How to characterize a tight-knit, high--functioning workplace is an open question. Some consider it a family, due to close working relationships and long hours spent together. Personally, I prefer to focus on the parallels between a group of coworkers and a professional sports team.

Being a good Texan, football is my go-to for sports analogies. A football team, while cohesive, is really made up of several smaller teams. Not everyone is on the field at once, nor are the positions interchangeable. They share a goal—to win—but each smaller team has a different focus and specific tasks to achieve the goal. At a nuclear power plant, there are several departments, each also with a distinct focus but overall contributing together to the goal of reliable, safe, carbon-free energy.

The Nuclear Regulatory Commission has proposed an $8,000 fine for a Connecticut hospital for violations involving the temporary loss of a radioactive source used to calibrate nuclear medicine dosage-measuring equipment.

X-energy, a developer of small modular reactors and nuclear fuel technology, has entered into a definitive business combination agreement with Ares Acquisition Corporation (AAC). As a result of the agreement, X-energy will become a publicly traded company, a status that is expected to boost its growth strategy, investment opportunities, and financial flexibility. In addition, X-energy will receive differentiated sponsorship by Ares Management Corporation, which describes itself as a “leading global alternative investment manager.” The transaction is expected to be finalized in the second quarter of 2023.

Aecon-Wachs, the U.S. division of Aecon Nuclear, has been tapped to support the Department of Energy’s goal of repurposing the unfinished Mixed Oxide Fuel Fabrication Facility at the Savannah River Site (SRS) in South Carolina. Known as Building 226-F, the facility is being transitioned into the Savannah River Plutonium Processing Facility (SRPPF) to produce plutonium pits for the nation’s stockpile of nuclear weapons.

Finnish energy companies Fortum and Helen Oy are initiating a study to explore collaboration on nuclear power projects, with particular emphasis on small modular reactors, the firms jointly announced last week, adding the caveat that “any future decisions on cooperation and investments will be made at a later stage.”

Westinghouse Electric Company and Finnish energy company Fortum have jointly announced the signing of a long-term partnership to develop, license, and supply VVER-440 fuel to Finland’s two-unit Loviisa nuclear power plant.

Here is a recap of industry happenings over the past month:

ADVANCED REACTOR MARKETPLACE

U.S. and Canadian regulators formalize relationship on advanced reactors

The U.S. Nuclear Regulatory Commission and the Canadian Nuclear Safety Commission (CNSC) have reached a charter agreement that formally establishes a collaborative relationship on small modular reactors and other advanced reactor technologies. The two agencies have been cooperating on these technologies for several years, but the formal agreement is designed to better harmonize the American and Canadian regulatory processes to achieve safe, successful deployment. The charter specifically focuses on regulatory and safety issues regarding the licensing review of GE--Hitachi’s BWRX--300 SMRs, which Ontario Power Generation (OPG) has selected for deployment at its Darlington site and which the Tennessee Valley Authority (TVA) plans to build at Clinch River. OPG and TVA announced plans earlier this year to work together on the development and deployment these SMRs.

“Russia and China have overtaken the United States as the world’s premier nuclear-power exporters.” Or so states an article recently published by Defense One, an online news source that primarily reports about national defense and security matters. The article notes that Russian and Chinese reactor designs have accounted for 87 percent of new installed nuclear reactors worldwide during the past five years and that China is set to become the world’s leading nuclear power producer before 2030.