Westinghouse starts production of ADOPT fuel pellets

09 August 2024

Westinghouse has produced the first of its nuclear fuel pellets that contain higher enrichment levels than what is currently used in commercial reactors. The Low Enriched Uranium Plus (LEU+) Advanced Doped Pellet Technology (ADOPT) fuel pellets are aimed at boosting both the performance and safety of nuclear power plants.

LEU+ ADOPT fuel pellets (Image: Westinghouse)

LEU+ ADOPT fuel contains up to 8% by weight uranium-235 (U-235) and additives that improve the safety performance of the fuel compared with standard uranium dioxide. Compared with the standard 3-5% U-235 enrichment used in low-enriched uranium, LEU+ ADOPT allows the generation of more power with fewer replacement bundles within the reactor core, offering improved nuclear fuel cycle economics for operating reactors.

The first LEU+ ADOPT fuel pellets have now been pressed at Westinghouse's Springfields fuel manufacturing facility in Lancashire in northwest England, UK.

The company said the milestone was achieved in partnership with US utility Southern Nuclear and the support of the US Department of Energy (DOE).

The pellets were made from a higher enriched uranium oxide powder that was prepared by DOE's Idaho National Laboratory and marks the first time DOE material has been used to support the increased enrichment of a commercial uranium oxide fuel above 5%.

The first LEU+ ADOPT fuel pellets will now be fabricated into pins and included in four lead test assemblies in the UK before being shipped to the USA for irradiation testing at unit 2 of Southern Nuclear's Vogtle plant in Georgia next year.

In March 2023, the US Nuclear Regulatory Commission (NRC) gave approval for the use of Westinghouse's ADOPT fuel pellets in pressurised water reactors in the USA. In October, Southern Nuclear announced it had received authorisation from the NRC to use advanced nuclear fuel enriched up to 6% U-235 at Vogtle unit 2. This is the first time a US commercial reactor has been authorised to use fuel with over 5% enrichment.

According to Westinghouse, "demand for LEU+ ADOPT fuel in the range of 5-10%, enrichment which reduces the number of outages needed in nuclear plants, is expected to grow significantly in the coming years due to the increased demand for carbon-free electricity".

"The first production of LEU+ ADOPT fuel is a key step for achieving longer fuel cycles and reducing operational costs in the nuclear fuel industry," said Westinghouse Nuclear Fuel President Tarik Choho. "This significant milestone, which is part of our EnCore Accident Tolerant Fuel programme, will help us provide safer, more economical, reliable, clean energy to our customers across the world."

ADOPT fuel is one of several accident tolerant fuel concepts being supported through DOE's Accident Tolerant Fuel programme to deliver new fuel pellet and cladding designs that could be commercialised before the end of the decade.

Third nuclear power plant proposal lodged in Norway

08 August 2024

Norsk Kjernekraft has submitted a proposal to Norway's Ministry of Energy for an assessment of the construction of a power plant based on multiple small modular reactors (SMRs) in the municipality of Øygarden, west of Bergen.

A concept of two SMR power units (Image: Norsk Kjernekraft)

"With this, the first step in the formal process to establish a nuclear power plant in Øygarden has been initiated," the company said.

The proposed location is an area of up to 250 acres (101 hectares) at Buneset, 600 metres south of the transformer and the gas processing plant at Kollsnes. The location is said to be well suited for utilising existing and planned network infrastructure in the Bergen area. The power plant will enable the electrification of oil and gas installations, the establishment of new industry and safeguarding security of supply.

The site is owned by landowner and former mayor of Øygarden, Rolv Svein Rougnø. Rougnø earlier entered into a letter of intent with Norsk Kjernekraft and the agreement outlines that the site can be acquired for use in the construction of SMR power plants.

Norsk Kjernekraft said the site has space for five SMRs, each with a generating capacity of 300 MWe. This means that the site has the potential for generating 12.5 TWh per year, corresponding to almost 10% of Norway's current total electricity consumption.

The scope of the proposed study programme submitted to the Ministry of Energy is limited to assessing what effects construction, operation and decommissioning of the power plant can have for society and the environment.

The report describes the location in question and explains how the nuclear power plant will contribute to fulfilling local, regional and national ambitions and obligations in the field of energy and climate. In addition, local conditions for the construction and operation of a nuclear power plant at Buneset in Øygarden are described, and which topics will be described in a future impact assessment.

The ministry will send the report out for consultation, and then the municipality, residents and industry will be able to make their comments. If approved by the ministry, the report and input will form the basis for an impact assessment.

Norsk Kjernekraft noted that Vestland county, in which Øygarden is located, is the region in Norway with the highest greenhouse gas emissions. Large projects are planned for new power consumption in the county, among other things to electrify oil and gas installations. Øygarden municipality already has a large power deficit, and this will increase as a result of planned electrification projects and the establishment of new industry.

"This marks yet another important milestone for Norsk Kjernekraft, and it is the third notification sent to the Ministry of Energy," said the company's CEO Jonny Hesthammer. "Previous notifications have included Aure and Heim municipalities, as well as Vardø municipality. A nuclear power plant in Øygarden will make it possible to electrify oil and gas installations on land and offshore. In addition, it will enable new power-intensive industry, and improve the utilisation of the power grid in Western Norway.

"The power plant will produce electricity regardless of the weather, thereby improving security of supply throughout the country. This report will also be an important part of the knowledge base for the government's announced investigation into nuclear power in Norway."

In June, the Norwegian government announced the appointment of a committee to conduct a broad review and assessment of various aspects of a possible future establishment of nuclear power in the country. It must deliver its report by 1 April 2026

Newcleo expands cooperation with Slovakia

08 August 2024

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UK-headquartered innovative reactor developer Newcleo and Slovak nuclear engineering and services firm VUJE have signed a cooperation agreement to establish closer collaboration on developing advanced modular reactor technologies and advanced fuel cycle solutions in the Slovak Republic.

The signing of the MoU by (from left to right) Andrew Murdoch, Newcleo's managing director of UK and Slovakia operations; Matej Korec, CEO of VUJE; and Andrej Žiarovský, director for development and international operations at VUJE (Image: VUJE)

The agreement aims to foster closer cooperation between nuclear experts from both companies, focusing on Newcleo's lead-cooled fast reactor (LFR) technology and mixed-oxide (MOX) fuel.

Specific areas of cooperation may include the assessment of deploying Newcleo's LFR technology in Slovakia, exploring fuel cycle solutions to potentially re-use Slovakia's used nuclear fuel inventory, collaborating on research and development activities and developing skills and capabilities in advanced nuclear technologies.

"Slovakia has more than 50 years of nuclear tradition, know-how, and human capital in highly-skilled experts, and VUJE has been the cornerstone of nuclear in this field," said Newcleo CEO Stefano Buono. "We aim to partner with VUJE on further technical development of advanced nuclear reactors which can make use of spent nuclear fuel. This cooperation agreement could further accelerate our R&D and engineering activities in Europe.

"I am convinced that this cooperation can bring us closer to a role model solution for many European countries to decarbonise their electricity production effectively and provide a sustainable solution to their stocks of spent nuclear fuel."

VUJE CEO Matej Korec added: "VUJE, as the Slovak market leader in nuclear energy and services, is keen to cooperate on further development of state-of-the-art nuclear technologies. We believe advanced modular reactor technologies and closing the fuel cycle have great potential for the future of nuclear energy in Slovakia and Europe. By participating in Newcleo's plans, we hope to help the technology become available sooner."

This agreement is the first entered into by Newcleo's recently established Slovak subsidiary, Newcleo sro.

In December last year, Newcleo signed a memorandum of understanding with Slovakia's Ministry of Economy and state-owned radioactive waste management company JAVYS to explore collaboration opportunities and further develop advanced modular reactor technologies.

Newcleo said its LFR AS-30 reactor design has been optimised over the last 20 years leading to the concept of an ultra-compact and transportable 200 MWe module with improvements in energy density compared with other technologies. Costs are kept low by means of simplicity, compactness, modularity, atmospheric pressure operation and elevated output temperature.

The first step of Newcleo's delivery roadmap will be the design and construction of the first-of-a-kind 30 MWe LFR to be deployed in France by 2030, followed by a 200 MWe commercial unit in the UK by 2033.

At the same time, the company will directly invest in a MOX plant to fuel its reactors. In June 2022, Newcleo announced it had contracted France's Orano for feasibility studies on the establishment of a MOX production plant.

Final tier of containment installed for Russian fast reactor

08 August 2024

The third and final tier of the reactor containment structure has been installed at the construction site of the BREST-OD-300 lead-cooled fast neutron reactor at the Siberian Chemical Combine site in Seversk, in the Tomsk Region of Russia.

The third tier of the containment structure, with a hoisting weight of 164 tonnes, is moved into place (Image: Rosatom)

The containment structure of the reactor consists of three assembly blocks installed in the design position in the reactor shaft. The steel reactor base plate and lower tier of the containment were installed at the turn of the year, while the second tier was hoisted into place in April.

With the installation of the third tier, the total mass of the structure is 429 tonnes, and its height is 17 metres.

Workers will now assemble the cooling system pipelines, drying system and intermediate shell. The cavity of the enclosing structure will then be filled with heat-resistant concrete.

According to Rosatom: "The containment structure is the outer part of the reactor vessel. It provides retention of heat-insulating concrete, forming an additional localising barrier of protection, which surrounds the boundary of the coolant circuit. On its surface, the temperature should not exceed 60°C, and the radiation background is actually equal to the natural background."

The BREST-OD-300 fast reactor is part of Rosatom's Proryv, or Breakthrough, project to enable a closed nuclear fuel cycle. The 300 MWe unit will be the main facility of the Pilot Demonstration Energy Complex at the Siberian Chemical Combine site. The complex will demonstrate an on-site closed nuclear fuel cycle with a facility for the fabrication/re-fabrication of mixed uranium-plutonium nitride nuclear fuel, as well as a used fuel reprocessing facility.

The target for the BREST-OD-300 reactor is to start operation in 2026.

Initial operation of the demonstration unit will be focused on performance and after 10 years or so it will be commercially oriented. The plan has been that if it is successful as a 300 MWe (700 MWt) unit, a 1200 MWe (2800 MWt) version will follow - the BR-1200.

Foundation pit completed for Leningrad 8 reactor

07 August 2024

Workers have completed the construction of the concrete foundation pit for the reactor of unit 8 at Russia's Leningrad nuclear power plant. First nuclear safety-related concrete is scheduled to be poured for the VVER-1200 unit next year.

The foundation pit for the reactor of Leningrad 8 (Image: Rosenergoatom)

Rosenergoatom, the nuclear power plant operating division of Russian state nuclear corporation Rosatom - said that construction of the pit lasted for about two months and was completed two-and-a-half months ahead of schedule.

The work was carried out by workers from Titan-2, the general contractor for the construction of new power units of the Leningrad plant.

In June of this year, the construction of the foundation pit for the reactor building of unit 8 was completed. This work was completed two weeks ahead of schedule.

"The technology for constructing the concrete foundation pit included the implementation of a multi-layer drainage system - lean concrete, sand, porous concrete," said Konstantin Khudyakov, director of the Leningrad NPP Facilities Programme of JSC Concern Titan-2. "Then the drainage system was cut off with a special membrane before the concrete preparation itself."

The next stage is the start of lightning protection and waterproofing work, which will last until the end of August. Then the screed will be installed.

Evgeny Milushkin, deputy director for capital construction and head of the capital construction department of the Leningrad II plant, added: "The completed work will allow specialists to start reinforcing the foundation slab. Reinforcement with steel reinforcement creates a kind of framework and makes the foundation extremely strong. The reinforcement work is defined by an additional schedule and will begin in October of this year. Thus, we are preparing for the first key operation - concreting the foundation slab of the reactor building."

The Leningrad plant is one of the largest in Russia, with an installed capacity of 4400 MWe, and provides more than 55% of the electricity demand of St Petersburg and the Leningrad region, or 30% of all the electricity in northwest Russia.

Leningrad units 1 and 2 - both 1000 MWe RBMK units - shut down in 2018 and 2020, respectively. As the first two of the plant's four RBMK-1000 units shut down, new VVER-1200 units started at the neighbouring Leningrad II plant. The 60-year service life of these fifth and sixth units (also known as Leningrad II-1 and Leningrad II-2) secures power supply until the 2080s. Units 7 and 8 will replace units 3 and 4 as they are shut in the coming years.

The pouring of the first concrete for unit 7 in March this year marked the start of the main phase of construction of the new power unit, which is expected to generate power for 60 years, with the possibility of a 20-year extension. The foundation slab consists of about 5500 cubic metres of concrete. Last month, Rosatom said the work on the reactor building is currently running two-and-a-half months ahead of schedule, with concreting of the foundation completed.

Leningrad units 7 and 8 (or Leningrad II-3 and Leningrad II-4) are planned to be commissioned in 2030 and 2032, respectively.

Kaiga steam generator arrives on site

07 August 2024

The first steam generator for units 5 and 6 of the Kaiga nuclear power plant in India's Karnataka State has completed its journey from L&T's Hazira complex in Gujarat.

(Image: NPCIL)

Kaiga 5 and 6 will be the first of ten Indian-designed 700 MWe pressurised heavy water reactors (PHWRs) to be built using a fleet mode of construction to bring economies of scale as well as maximising efficiency, which have been given administrative approval and financial sanction by the Indian government. Excavation works for the units began in May 2022. Two 700 MWe PHWR units have already been built at Kakrapar, in Gujurat, and are already in commercial operation, and fuel loading is under way in another, Rajasthan unit 7, which is expected to begin commercial operation before the end of the year.

Steam generators are heat exchangers used to convert water into steam from heat produced in a nuclear reactor core. In PHWRs, the coolant is pumped, at high pressure to prevent boiling, from the reactor coolant pump, through the nuclear reactor core, and through the tube side of the steam generators before returning to the pump.

The component weighs over 200 tonnes and is about 24 metres in length, with a diameter of about 4 metres.

Nuclear Power Corporation of India Ltd currently operates four 202 MWe PHWRs at Kaiga.

(Image: NPCIL)

Researched and written by World Nuclear News

 CANADA

OPG prepares for arrival of Harriet Brooks at Darlington

The highly specialised excavating machine, also known as a 'mole', is being manufactured in Europe

09 August 2024

As work progresses at the site for Ontario Power Generation's Darlington New Nuclear Project (DNNP), a massive tunnel boring machine that will be used in site preparations has been named Harriet Brooks in honour of Canada's first female nuclear physicist.

Harriet Brooks (Image: OPG)

Harriet Brooks was the first woman to receive a master’s degree from Montreal's McGill University in 1901. Brooks discovered that one element could change into another element through radioactive decay and - while she was still a student - was one of the first people to discover the radioactive gas radon. She worked under Ernest Rutherford and Marie Curie, and held a variety of university positions, including at McGill and Barnard College in the USA, as well as working with JJ Thomson at the Cavendish Laboratory in Cambridge, England.

The DNPP site (the existing Darlington nuclear power plant can be seen in the background) (Image: OPG)

The highly specialised excavating machine, also known as a 'mole', is being manufactured in Europe and will be used to drill the condenser cooling water tunnel path. Although it is not expected to be on site until next summer, DNNP's team has already completed a retaining wall for the machine's launch shaft.

Ontario Power Generation (OPG) announced in March that early phase works for the Darlington New Nuclear Project to construct the first of up to four BWRX-300 SMRs had been completed on time and on budget, clearing the way for the main site preparation work to begin. This summer has seen drilling begin for the reactor building shaft retaining wall. Work has begun on the on-site fabrication and pre-assembly buildings where components for the plant will be fabricated. OPG has shared a video update of progress at the site.

The first part of the Canadian Nuclear Safety Commission's hearings on OPG's application for a licence to construct the first unit is to take place this September, with the second hearing in January. Pending regulatory approval, OPG has previously said the project will be ready for nuclear construction work to begin in 2025. The first SMR unit is expected to be in commercial operation by the end of 2029, with the rest of the units expected to come online in the mid-2030s.

Harriet Brooks

 

The tunnel boring machine is currently being manufactured in Europe (Image: OPG)

After more than 100 name submissions and a vote for the best, the team settled on Harriet Brooks as the name of the new tunnelling machine. (A previous tunnel boring machine used to create a 10.2-kilometre-long tunnel to increase generating capacity at the Sir Adam Beck hydro complex in Niagara Falls was known as Big Becky in honour of Sir Adam Beck, the first chairman of OPG predecessor company the Hydro-Electric Power Commission of Ontario.)

Contracts support Candu refurbishment projects in China and Canada

09 August 2024

Candu Energy Inc has agreed with Third Qinshan Nuclear Power Company Limited to support the ongoing 30-year life extension of the two Candu reactors at the Qinshan Nuclear Generating Station, while Bruce Power has awarded a CAD700 million (USD510 million) contract to replace steam generators at Bruce units 5, 7 and 8 to the AECON-led Steam Generator Replacement Team (SGRT) joint venture.

A replacement steam generator (Image: Bruce Power)

Units 5, 7 and 8 will be the last three Candu units at the Ontario site to undergo Major Component Replacement (MCR) - a refurbishment process involves removing and replacing key reactor components including steam generators, pressure tubes, calandria tubes and feeder tubes and adding 30-35 years to the reactor's operating life. In total, six units at the site are being refurbished to extend the life of the site to 2064.

SGRT is a joint venture between Aecon and SGT, a partnership between Framatome and United Engineers & Constructors Inc. It has already completed steam generator replacement work in the MCR at Bruce 6, which returned to commercial operation last September. Work is ongoing for units 3 and 4.

SGRT's scope of work as part of the Bruce MCR project includes engineering and planning activities, the removal of existing steam generators, the installation of new steam generators, construction management and procurement of materials, and construction activities. Planning for unit 5 has commenced, Aecon said, with the execution phase beginning in 2027 and completion of all three units anticipated by 2033.

Qinshan agreement

 
AtkinsRéalis company Candu Energy Inc has entered into an agreement with Third Qinshan Nuclear Power Company Limited (TQNPC) to support the ongoing 30-year life extension of the two Candu reactors at the Qinshan Nuclear Generating Station in China, providing design, engineering, and procurement services as part of the project for Phase III. This includes providing sophisticated reactor tooling, training of TQNPC staff, and completing the necessary engineering work to enable the prolonged operation of the plant, AtkinsRéalis said.

The two Candu 6 pressurised heavy water reactors at Qinshan are known as Qinshan Phase III units 1 and 2. The Qinshan site, in Zhejiang province 100 km southwest of Shanghai, is also home to a Chinese-designed CNP-300 pressurised water reactor, Qinshan 1, and two CNP-600 pressurised water reactors known as Qinshan Phase II.

Qinshan's Candu units are majority owned by China National Nuclear Power and were built on a turnkey basis, with Atomic Energy of Canada Limited being the main contractor. They began operating between 2002-2003, and are now approaching the scheduled date for component replacement to facilitate a further 30 years of operation.

The contract follows mandates in 2021 and 2022 for pre-project preparatory work, both of which have now been completed on schedule, AtkinsRéalis said.

AtkinsRéalis is the sole commercial licensee of the Canadian-owned Candu intellectual property portfolio, and has taken a leading role in all Candu reactor life extension projects to date globally, including projects in already completed or currently under way in Asia, North America, Europe and South America.

The company's Candu life extension reactor support business is a CAD15 billion "total addressable market" with upcoming projects in China, Canada, Argentina, Romania, and South Korea that could include 19 Candu reactors over the next 10 years, AtkinsRéalis President, Nuclear Joe St Julian said. "With this latest mandate at Qinshan, we are proud to uphold our reputation as the recognised leaders for Candu technology life extensions, maintaining a tradition of safety, quality, and excellence in execution," he added.

Researched and written by World Nuclear News

 

Viewpoint: Providing a platform for young nuclear professionals

05 August 2024

Kristine Madden, president of the International Youth Nuclear Congress (IYNC), discusses the key challenges and opportunities for young nuclear professionals in the near future.

Could you tell us about the current IYNC priorities?

IYNC is a global organisation of young nuclear professionals committed to bridging the knowledge gap between generations and fostering international collaboration. Through different initiatives, we not only support professional growth but also enhance public understanding of the potential of nuclear technologies.

Since the last Congress in Japan in 2022, global interest in nuclear energy has continued to grow. Both the International Energy Agency (IEA Net Zero Roadmap: A Global Pathway to Keep the 1.5°C in Reach: 2023 Update) and the Intergovernmental Panel on Climate Change (Global Warming of 1.5°C, 2018) have reported the need for significant increases in nuclear power by 2050. Concurrently, we have observed a global rise in youth's favorable view of the role of nuclear science and technology in achieving net-zero goals. A survey conducted by YOUNGO, the youth constituency of the United Nations Framework Convention on Climate Change, revealed that 60% of young people consider nuclear energy essential for the transition to net-zero, while another 20% feel they lack sufficient information to make a decision for or against it. This shared belief underscores that without nuclear power, the Sustainable Development Goals cannot be realised. Nuclear technologies are indispensable for improving quality of life in areas such as agriculture, medicine, and security. Young professionals are crucial to the industry's future.

So, to answer your question, IYNC's main priorities have not changed.

The three main priorities I would like to highlight include:

• Knowledge Transfer, Education, and Intergenerational Decision-Making: IYNC is dedicated to providing educational opportunities for young professionals in the nuclear field, promoting knowledge transfer and intergenerational decision-making.
• Networking and Collaboration: We offer a platform for young nuclear professionals worldwide to connect and collaborate, fostering networking and collaboration across generations.
• Advocacy and Public Awareness: We are committed to advocating for and raising public awareness about the importance of nuclear technologies today and in the future.

What are the key issues to be discussed at the congress?

The theme of this year's Congress is “Youth Powering the Future.” The event will be held in Abu Dhabi, UAE, from 29 September to 4 October 2024.

At IYNC, we recognise the key role young people play in the development of the global nuclear industry, and with plans for new builds worldwide, we need to make a quantitative leap in attracting and training the next generation of leaders for these future projects. Our supporters - the leaders of the world's nuclear industry - understand this necessity. They collaborate with us not just by providing sponsorship but also by sharing their expertise, offering mentorship, and supporting the growth of the next generation. They do this through opportunities like participating in our Leaders4Nuclear and Innovation4Nuclear initiatives, the IYNC2024 conference, and working with us to open spaces for young people to be part of the decision-making processes.

This year at IYNC2024, we will discuss the role of nuclear technologies in mitigating climate change, explore emerging technologies in the fuel cycle, and develop innovative strategies for resource efficiency. A key focus will be on ensuring the long-term viability of nuclear energy. Additionally, we will, discuss the vast career opportunities for youth in the nuclear sector. We will also provide opportunities for youth to enhance their public speaking skills, integrate IAEA Safeguards-by-Design (SBD) into new designs, and utilise AI through our interactive workshops.

Why is IYNC an important organisation/forum?

IYNC is a vital community for professionals in the nuclear industry, offering a unique platform for knowledge exchange, networking, and professional growth. For over 20 years, we have maintained a consistent schedule of regular meetings, which are crucial for learning from industry leaders and sharing experiences. However, our purpose extends far beyond simply convening regular meetings.

The importance of IYNC lies in its role as a bridge between experienced professionals and those new to the field. By learning from the leaders of the global nuclear industry, participants gain valuable insights and expertise that are essential for navigating the complexities of nuclear technologies. At the same time, our community provides an opportunity for professionals to share their experiences, challenges, and successes, fostering a culture of continuous learning and improvement.

Moreover, IYNC serves as an inclusive forum where diverse motivations for exploring nuclear energy converge, unified by a common goal: creating a cleaner, safer future. Whether driven by environmental concerns, technological curiosity, or a commitment to energy security, our members all share a vision of harnessing nuclear technology for the betterment of society. Through our events, initiatives, and collaborative projects, IYNC plays a critical role in shaping the next generation of nuclear professionals, promoting innovation, and advancing public understanding of nuclear energy's potential.

What is the current situation with nuclear capacity expansion and climate change concerns?

Many existing nuclear power plants are receiving licence extensions, and there is a noticeable increase in new builds as countries work to address the risks posed by climate change. This growth in our community means that IYNC is also expanding its efforts to meet the evolving needs.

I am particularly excited about the shifting perspectives on the role of nuclear power in combating climate change. For the first time, the nuclear industry was invited to YOUNGO’s annual Conference of Youth, held just before COP28, to discuss technological solutions for achieving net zero alongside other youth experts. At the end of their conference, YOUNGO released the Global Youth Statement, which, for the first time, acknowledged nuclear power as a crucial component of the net-zero energy equation. This Statement played a key role in the Global Stocktake, which also recognised nuclear power as a vital energy source.

IYNC is dedicated to fostering conversations that allow young people to explore and understand nuclear energy. Additionally, in collaboration with the Clean Energy Ministerial’s Nice Future Initiative, we have launched a new webinar series called Climate Talks. This series aims to broaden our youth’s understanding of the climate discussion beyond just nuclear energy, recognising that nuclear energy is just one part of the larger solution and empowering our youth is essential in this effort.

How do you support the global nuclear sector through knowledge, contacts and advocacy?

Most IYNC members are involved in nuclear companies, but we’re seeing a growing number of new members from the broader energy and climate sectors. For students and young professionals, we provide opportunities to learn more about nuclear science and technology, as well as explore career opportunities in the field. IYNC thus acts as both a professional hub for exchanging expertise and a stepping stone for career development.

We recently launched the Leaders for Nuclear (L4N) initiative to support young professionals stepping into leadership roles within the sector and to ready young professionals as we work to increase spaces for intergenerational decision making within the sector. The initiative is divided into three specialised tracks: Nuclear Applications, which focuses on advanced nuclear technologies beyond the energy industry; Nuclear Power, which delves into the details of nuclear power generation, management, and new reactor technologies; and Nuclear Safeguards, which tackles the critical areas of nuclear safeguards and non-proliferation. We are currently working with our first cohort of leaders and will present the initial results at IYNC2024 in the UAE.

To further increase accessibility to nuclear technologies, we’ve revamped our website to include the Worldwide Industry Events Hub, a comprehensive calendar of upcoming conferences, events, fellowships, scholarships, and workshops. This resource keeps our followers informed and engaged with the latest industry developments.
Additionally, IYNC co-leads the Nuclear4Climate Initiative, which provides a platform for COP attendees to learn more about nuclear science and technology. Separately, IYNC works with non-nuclear organisations to develop collaborative solutions and facilitate Q&A sessions year-round. This year, we also sent participants to SB06 to explore how we can increase our impact, and we plan to continue focusing on this area.

We’ve also boosted our social media presence to continue to educate the public about nuclear power.

Is Gen Z ready for a key role in nuclear expansion and why?

Every generation is ready if they are well-prepared, and Gen Z is particularly attuned to climate change issues and eager to play a role in addressing them. This generation not only supports nuclear technologies but also has a solid understanding of their applications. They grasp the basic principles of nuclear power plant operations and are aware of the diverse uses of nuclear technology in fields such as agriculture and medicine. Their interest is driven by a genuine curiosity rather than fear.

Effective communication with Gen Z is essential, as they are skilled at discerning and filtering information. Within our community, a substantial proportion of our members are in their 20s, actively contributing and sharing their knowledge with enthusiasm. There is no doubt about Gen Z's commitment to advancing nuclear technology and their readiness to engage in meaningful ways.

Researched and written by World Nuclear News

Lucid Receives $1.5 Billion Lifeline from Saudi Investment Fund

By ZeroHedge - Aug 07, 2024

• Lucid Group received a $1.5 billion investment from its majority stockholder, Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund.
• 
  
• The investment will be used to produce the Gravity SUV and build a factory in Saudi Arabia with an annual capacity of 150,000 vehicles.
• 
  
• Lucid's Q2 revenue exceeded estimates, but the company still reported a loss on an adjusted basis.

An affiliate of Saudi Arabia's Public Investment Fund has thrown struggling electric car maker Lucid Group a $1.5 billion lifeline (second one of the year). This comes as Lucid prepares to launch its first sport utility vehicle amid a downturn in the EV automotive space. 

Lucid revealed it entered into agreements with its majority stockholder, Ayar Third Investment Company, an affiliate of the Saudi PIF, to purchase $750 million of convertible preferred stock through a private placement and provide a $750 million unsecured loan. 

Lucid already received $1 billion from Ayar in March. Shortly after, the EV maker announced plans to slash about 6% of its workforce by the end of Q3. This follows a brutal 2023 of production woes, workforce reductions, and a shakeup in its top management. 

CEO Peter Rawlinson told Reuters that the new funds from Ayar will be used to produce the Gravity SUV and build a factory in Saudi Arabia, with an annual capacity of 150,000 vehicles. 

Shares of Lucid soared as much as 16% in premarket trading on the new funding from Ayar. However, for the year, shares are down nearly 29% (as of Monday's closing price). Lucid's float is 26.29% short. 

Lucid also reported second-quarter earnings. Revenue of $200.6 million exceeded the average Wall Street estimate of $185.8 million. However, it lost 29 cents a share on an adjusted basis for the quarter, with analysts forecasting a 27 cents-a-share loss. 

Here's a snapshot of the second quarter earnings (courtesy of Bloomberg):

• Revenue $200.6 million, +33% y/y, estimate $185.8 million (Bloomberg Consensus)
• Adjusted loss per share 29c vs. loss/shr 38c y/y, estimate loss/shr 27c
• Loss per share 34c vs. loss/shr 40c y/y
• Adjusted Ebitda loss $647.6 million, -8.8% y/y, estimate loss $560.9 million
• Vehicles Delivered 2,394, estimate 1,999

Andres Sheppard, senior equity analyst at Cantor Fitzgerald, said, "The $1.5 billion helps to solidify the relationship between PIF and Lucid further. There was some investor concern out there that should the PIF become frustrated with the company that they wouldn't provide any additional commitments." 

Here's more commentary from Wall Street analysts (courtesy of Bloomberg):

Citi analyst Itay Michaeli (neutral)

• Says the new $1.5 billion capital raise is expected to extend Lucid's liquidity runway into 4Q 2025
• The results were encouraging with free cash flow burn narrower

RBC analyst Tom Narayan (sector perform)

• Says the extra liquidity cushion provided by the Saudi deal, investor focus on the liquidity topic, as well as on how committed PIF is to Lucid's long-term success, can all push the shares up sharply on this news
• Lucid expects start of production for the Gravity SUV later this year and reservations should begin before that
• Adds that there should be some indication of demand in the 3Q, and the analyst expects deliveries to begin in 1Q of 2025
• Notes that Lucid management has said on a few occasions that it does not want to take reservations too early as this can lead to cancellations and the long lead time can upset customers

Bloomberg Intelligence analyst Steve Man

• Says unlike the $5 billion commitment Rivian received from Volkswagen, Lucid's $1.5 billion capital raise doesn't fully address the company's "liquidity needs to launch a high-volume, medium-sized vehicle, which is scheduled to debut in late 2026"

Earlier this year, Morgan Stanley's autos guru, Adam Jonas, said the EV sales slowdown would trigger four potential paths for collaboration for legacy OEMs and EV startups. So far, Rivian made a deal with Volkswagen... 

Meanwhile, the EV industry (excluding Tesla) might face a reckoning next year if Trump wins in November. That's because the former president has stated that EV subsidies will be eliminated. Even Musk supports this move. 

Musk recently said: "Take away the subsidies. It will only help Tesla. Also, remove subsidies from all industries!" 

By Zerohedge.com

Canadian Oil Prices Remain Depressed Despite Trans Mountain Expansion

By Irina Slav - Aug 07, 2024

The launch of the expanded Trans Mountain oil pipeline earlier this year was a kind of unique event. In a place where the government did not care much for pipelines and many people also didn't care for pipelines, a big one was allowed to start operating. And there were great hopes attached to it.

Some of these have materialized—Canadian oil sands operators are boosting production. But others have been late in materializing—Canadian oil prices are still trading at a hefty discount to the U.S. benchmark. 

Alberta's oil producers had for years struggled to make the best of their resources for lack of export destinations. U.S. refiners had an easy source of heavy crude and because there were no other buyers, prices were permanently pressured into double-digit discounts.

When plans were drawn for the Trans Mountain expansion, producers undoubtedly saw a chance for higher prices. After all, the expanded pipeline would deliver 590,000 more barrels of oil daily to the port of Vancouver, for a total daily throughput of 890,000 barrels. These barrels could be sold abroad where demand for heavy crude was rather healthy due to the scarcity of sources and Canadian producers could get a good price for their product.

Indeed, the first reports about the new and expanded Trans Mountain have been promising. A Chinese company bought its first-ever cargo of Canadian crude back in March, proving that there is indeed demand for Canada's heavy abroad. Another report about a delivery for China surfaced in May.

While these reports are likely to keep coming in as Canadian producers open up to the world beyond the U.S., Canadian oil continues trading at a double-digit discount to West Texas Intermediate. At the time of writing, that discount was around $15, with Western Canadian Select at a little over $58 per barrel and WTI at over $73.

In a report this week, Reuters cited some of the largest oil sands players as explaining the low prices with greater competition from Mexican crude in the Gulf Coast, undermining refineries' demand for Canadian crude. They also noted refinery outages that affected day-to-day demand. Optimism, however, remained.

"Over the next little while I would say we expect Trans Mountain to continue to have its intended impact in Alberta and differentials to be as narrow as they have been in a long time," Cenovus executive vice-president of commercial, Geoff Murray, said, as quoted by Reuters.

"The important thing around Trans Mountain is we've seen the facility come online. It's up, it's operating and it's operating well," he also said, reminding the audience on the conference call where he was speaking about the Netflix serialization-worthy saga that was the story of Trans Mountain.

The massive project was riddled with problems from the beginning, the biggest of which was environmentalist opposition that included not only activists from the general public but also the federal government. By 2018, the company behind the project, Kinder Morgan, got exhausted from the fight and gave up. That same federal government was forced to buy the project because of its sheer scale and the investments already made. It also recognized, albeit grudgingly, that Canadian oil producers could use more pipeline capacity to make more money for tax revenues.

Those producers began ramping up production months before the expanded Trans Mountain entered into operation. For this year, total oil output in Canada is seen growing by between 300,000 bpd and 500,000 bpd, according to a TD Economics note from earlier this year. This rate of growth could look positive, but it could also prompt concern—because further expansions at Trans Mountain are rather unlikely.

Some analysts have warned that Canadian oil producers would only have a couple of years to enjoy their additional export capacity before production surpasses it and prices slump again on the fresh shortage. BMP analyst Ben Pham, for instance, said that the Trans Mountain pipeline would increase Canada's total capacity to 5.2 million barrels daily. Production is already at around 5 million bpd, so this leaves a margin of 220,000 bpd, according to Pham, as spare capacity.

Yet it will quickly evaporate because production growth will continue, RBN Energy analyst Martin King earlier this year. Instead of four or five years of capacity comfort, as originally expected, the Trans Mountain expansion may only provide relief for about a couple of years.

"Originally it was thought TMX would give us a four- or five-year window," the analyst said on February, as quoted by Reuters. "It now looks like that window of spare capacity might actually be a lot smaller."

It is perhaps too early to attribute the stubborn discount of WCS to WTI to these expectations of a pipeline shortage in a couple of years. But it was perhaps also a little too optimistic to expect everyone to rush to buy Canadian crude at once and lift prices to near parity with the U.S. benchmark. The Trans Mountain pipeline has only been operating for a few months, after all. It's quite likely it needs longer to have an impact on Canadian oil prices. Meanwhile, producers might refine their production growth plans. More supply always means lower prices, after all.

By Irina Slav for Oilprice.com