What can venture capital bring to nuclear innovators?

August 25, 2022, 7:06AMNuclear NewsRod Adams

Rod Adams

In 1993, after a decade in the nuclear navy during which time I fell in love with nuclear power, I left the service and founded Adams Atomic Engines (AAE) to develop a small, portable engine powered by fission. Today, AAE would be seen as a venture developing an SMR, but back then, I couldn’t find enough investors who understood or believed in my vision.

That was deeply disappointing, but over the next several decades I stayed connected with other innovators who had similar visions. I found great satisfaction interviewing members of the industry through the Atomic Show podcast and publishing news about advanced nuclear developments on my website, Atomic Insights.

Fast forward, and the world is in a very different place. A few years ago, I was contacted by an investor who saw the potential of advanced nuclear designs to meet the world’s needs for a clean energy revolution, and I was thrilled. Even in 2019, there were almost no venture capitalists focusing on what was happening in the nuclear industry—probably because nuclear had never fit the venture capital model, which involves investing in the equity of a growing private venture.

Perfecting the public-private partnership: Is X-energy leading the way?

August 24, 2022, 3:00PMNuclear News

X-energy has been having a good year. Not only did Dow announce plans to invest in the company’s high-temperature gas reactor (HTGR) technology and deploy an Xe-100 reactor at a U.S. Gulf Coast facility for power and process heat by 2030, in parallel with the Xe-100 demo planned for Washington state with support from the Advanced Reactor Demonstration Program (ARDP), but X-energy’s fuel subsidiary, TRISO-X, has applied for a fuel facility license and aims to have a commercial fuel plant operating in 2025, and Canadian provinces are signaling their interest in the technology. And while news of Dow’s investment broke with well-deserved fanfare, the company’s serious interest in HTGRs—and federal support for HTGR development—goes way back.

WIPP rescue teams compete in national competition

August 24, 2022, 12:02PMRadwaste Solutions
WIPP Blue Team participates in a final briefing before beginning a field contest in a recent national mine rescue competition. (Photo: DOE)

Mine rescue teams from the Department of Energy’s Waste Isolation Pilot Plant (WIPP) finished in the top 15 in competitions at the first-ever joint Coal, Metal, and Nonmetal National Mine Rescue Contest in Lexington, Ky., held on August 7–12.

Akkuyu-1 polar crane mounted

August 24, 2022, 9:30AMNuclear News
Turkey’s Akkuyu-1 receives its polar crane. (Photo: Akkuyu Nuclear)

Akkuyu Nuclear, the Ankara-based Rosatom subsidiary established to manage Turkey’s Akkuyu nuclear plant project, has announced the successful mounting of the Unit 1 polar crane. The operation was carried out using a Liebherr LR 13000 crane and took approximately four hours, according to Akkuyu Nuclear.

Also referred to as a circular bridge crane, the polar crane operates on a circular runway located near the spring line of the containment building. It is used for a wide range of loading and lifting tasks within containment, including reactor-head removal/replacement and fuel loading/unloading.

What’s in it for nuclear?

August 24, 2022, 7:00AMANS News

The American Nuclear Society is offering the hour-long members-only webinar “Inflation Reduction Act: What's in it for nuclear?” on Friday, August 26, starting at 1:00 p.m. EDT.

What it’s about: With the Inflation Reduction Act (IRA) now signed into law, an expert panel will discuss its impact on nuclear in the coming years. The panelists will explore what it will mean for existing nuclear power plants, the deployment of advanced reactors, the production of high-assay low-enriched uranium (HALEU), hydrogen, and more.

Register now for the webinar.

Darlington unit overhaul ahead of schedule

August 23, 2022, 3:00PMNuclear News
The Darlington-3 reactor face. (Photo: OPG)

Ontario Power Generation has announced that refurbishment of Unit 3 at its Darlington nuclear plant is progressing ahead of schedule, with an expected return to service by late 2023, rather than early 2024.

South Korean task force established to promote nuclear power exports

August 23, 2022, 12:02PMANS Nuclear Cafe

Lee Chang-yang

A multi-ministry task force has been established by the government of South Korea to promote the export of nuclear power development projects. The task force, led by minister of trade, industry, and energy Lee Chang-yang, includes nine ministries, such as national defense; economy and finance; foreign affairs; and land, infrastructure, and transport. It also includes a number of private-sector companies and public institutions— Korea Hydro and Nuclear Power, Export-Import Bank of Korea, and Korea Electric Power Corporation among them.

Diplomatic offices: The Korean task force plans to establish diplomatic offices in several countries in order to perform its mission effectively, including the United Kingdom, the Netherlands, the Czech Republic, Poland, Kazakhstan, the Philippines, Saudi Arabia, and South Africa.

Bipartisan bill to prioritize HALEU debuts in House

August 23, 2022, 9:30AMNuclear News

Donalds

Luria

Reps. Elaine Luria (D., Va.) and Byron Donalds (R., Fla.) have introduced in the House of Representatives the Fueling Our Nuclear Future Act (H.R. 8723), a measure to accelerate the availability of commercially produced high-assay low-enriched uranium (HALEU) fuel and boost domestic energy production in the United States.

Unveiled last week following a Senate version introduced in April by Sen. John Barrasso, the legislation directs the secretary of energy to prioritize and establish a program that ensures a domestic supply of HALEU for advanced nuclear reactors. Currently, the nation lacks the domestic enrichment capability to produce HALEU. The bill explicitly excludes uranium sourced or processed by any entity owned or controlled by the governments of Russia and China.

NNSA to prepare Los Alamos’s fourth site-wide environmental analysis

August 23, 2022, 7:00AMNuclear News
A view of Los Alamos National Laboratory. (Photo: LANL)

The National Nuclear Security Administration announced that, in compliance with the National Environmental Policy Act (NEPA), it intends to prepare a site-wide environmental impact statement (SWEIS) to analyze the potential environmental impacts for continuing operations of the Los Alamos National Laboratory for the next 15 years. The SWEIS will also analyze the environmental impacts of legacy waste remediation being done by the Department of Energy’s Office of Environmental Management at the site.

Update on Ukraine

August 22, 2022, 3:00PMNuclear News
The Zaporizhzhia nuclear power plant. (Photo: Ralf1969, Wikimedia Commons)

The latest news on Ukraine’s Zaporizhzhia nuclear power plant—under occupation by the Russian military since early March—sparks some hope, but also more anxiety.

The good: This morning, Russia requested that the United Nations Security Council hold a meeting tomorrow on the situation at the six-unit pressurized water reactor plant, according to RIA Novosti, a Russian state-owned news agency. The RIA report cited a post via the Telegram messaging app from Dmitry Polyansky, Russia’s first deputy minister at the UN. In the post, Polyansky said the meeting is scheduled for “22:00 Moscow time on August 23.”

IAEA’s Nuclear Security Training and Demonstration Centre nears completion

August 22, 2022, 12:00PMANS Nuclear Cafe
Construction of the IAEA’s international training center for nuclear security is expected to be completed by the end of this year. (Photo: C. Daniels/IAEA)

Construction of the International Atomic Energy Agency’s new Nuclear Security Training and Demonstration Centre (NSTDC) is nearing completion in the town of Seibersdorf, Austria, near the capital city of Vienna. The IAEA expects construction to be finished by the end of the year, allowing for the facility to open and be operational by late 2023.

Ultra Safe Nuclear opens pilot-scale TRISO fuel facility in Oak Ridge

August 22, 2022, 9:30AMNuclear News
Terrani, Huff, and Fleischmann had the honor of cutting the ribbon to celebrate the opening of the Pilot Fuel Manufacturing facility. (Photo: USNC)

Ultra Safe Nuclear Corporation (USNC) celebrated the opening of its Pilot Fuel Manufacturing (PFM) facility in Oak Ridge, Tenn., on August 18 with a ribbon-cutting ceremony and tour attended by assistant secretary for nuclear energy Kathryn Huff, Tennessee lieutenant governor Randy McNally, U.S. Rep. Chuck Fleischmann (R.), representatives from the offices of Sens. Marsha Blackburn (R.) and Bill Hagerty (R.), and other distinguished guests. The next day, radiological operations began at the privately funded facility, which was designed and built in less than twelve months within an existing industrial building purchased by USNC in 2021.

Profile focuses on Curio CEO and nuclear waste reprocessing

August 22, 2022, 7:00AMANS Nuclear Cafe
Ed McGinnis, Curio CEO. (Photo: Curio)

Ed McGinnis, the chief executive officer of nuclear innovation startup Curio, is looking to solve the nuclear waste problem. In a profile published by CNBC, McGinnis says that nuclear waste is “a huge, huge unresolved problem representing pretty much the largest ball and chain on the ankle of the U.S. nuclear energy sector [which is] trying to transition itself for the next generation of reactors.” Curio, which has developed its NuCycle technology for chemically processing nuclear waste, is hoping to “rebrand nuclear as a means of unlocking the full potential of human ingenuity and aspiration,” according to the company’s website.

The state of U.S. Fusion

August 19, 2022, 2:56PMNuclear NewsCami Collins
The first sector of the ITER vacuum vessel was placed in the assembly pit in May. Here, a technician positions targets on the surface of the component to be used in laser metrology. (Photo: ITER Organization)

Delivery of electricity from fusion is considered by the National Academies of Engineering to be one of the grand challenges of the 21st century. The tremendous progress in fusion science and technology is underpinning efforts by nuclear experts and advocates to tackle many of the key challenges that must be addressed to construct a fusion pilot plant and make practical fusion possible.

The coal-to-nuclear conversion: Are Gen IV reactors the answer?

August 19, 2022, 12:01PMANS Nuclear Cafe
Artist’s rendering of the IMSR Core-Unit. (Credit: Terrestrial Energy)

In the ongoing quest to mitigate the effects of climate change, new technology can create new solutions. Even today, however, coal is still a main source of power around the globe, often out of necessity. Many coal-burning plants have already been converted for gas or biomass, but these measures alone are not nearly enough to meet net-zero carbon goals. There is a better solution, however: repowering coal plants with nuclear technology—specifically, Generation IV reactors.

ABS to study nuclear for commercial maritime applications

August 19, 2022, 9:30AMNuclear News
The NS Savannah—the first merchant ship powered by a nuclear reactor.

The American Bureau of Shipping (ABS) has announced the launch of a research project that will look into barriers to the adoption of advanced nuclear propulsion for commercial vessels.

The $794,000 project, awarded to ABS last year by the Department of Energy’s Office of Nuclear Energy, is now being formally contracted through the DOE’s U.S. Industry Opportunities for Advanced Nuclear Technology Development funding opportunity, according to ABS’s August 17 announcement. Support is to be provided by Idaho National Laboratory’s National Reactor Innovation Center (NRIC).

Philippine lawmakers create nuclear energy panel

August 19, 2022, 7:00AMNuclear News
The session hall of the Batasang Pambansa Complex in Quezon City, the seat of the Philippines’ House of Representatives.

The Philippines’ House of Representatives has established a special 25-member committee to focus on nuclear energy.

Within the committee’s purview, according to an August 9 release from the House’s Press and Public Affairs Bureau, are “all matters directly and principally relating to the policies and programs to the production, utilization, and conservation of nuclear energy, including the development of nuclear power infrastructure, as well as interaction of other energy sources with nuclear energy as a reliable, cost competitive, and environment-friendly energy source to ensure energy security consistent with the national interest and the state’s policy of freedom from nuclear weapons.”

Abilene Christian’s NEXT Lab applies for MSRR construction permit

August 18, 2022, 3:04PMANS Nuclear Cafe
Construction of the new Science and Engineering Research Center is underway on the ACU campus. (Photo: ACU)

The Nuclear Energy eXperimental Testing (NEXT) Laboratory at Abilene Christian University in Texas submitted a construction permit application to the Nuclear Regulatory Commission for its molten salt research reactor (MSRR) on August 15. According to ACU, the move represents the first application for a new U.S. research reactor of any kind in more than 30 years, as well as the first-ever university application for an advanced research reactor.

DOE prepares for construction of Savannah River’s final waste disposal units

August 18, 2022, 12:02PMRadwaste Solutions
Crews begin clearing the site on which Savannah River Site’s SDU 10 will sit. (Photo: DOE)

The Department of Energy’s Office of Environmental Management (EM) announced that it is preparing for construction of the final three planned saltstone disposal units (SDUs) at the Savannah River Site in South Carolina, which will complete the site’s liquid waste mission.

The SRS liquid waste contractor, Savannah River Mission Completion (SRMC), is overseeing the construction of the SDUs, which will receive decontaminated salt solution treated at Savannah River’s Salt Waste Processing Facility (SWPF).

NWTRB to hold public meeting on the disposal of spent fuel in clay

August 18, 2022, 9:30AMRadwaste Solutions

The Nuclear Waste Technical Review Board (NWTRB) announced it will hold a public meeting on September 13–14 to review information on Department of Energy research and development activities related to the geologic disposal of spent nuclear fuel and high-level radioactive waste in clay-bearing host rocks and R&D on clay-based engineered barriers. The hybrid (in-person/virtual) meeting will begin on both days at 12:00 p.m. EDT and is scheduled to adjourn at approximately 5:00 p.m. EDT.

The NWTRB is an independent federal agency that provides ongoing, objective evaluation of the technical and scientific validity of activities undertaken by the DOE related to implementing the Nuclear Waste Police Act.