A message from Nucleation Capital
Concept image by Adrian Smith + Gordon Gill Architecture LLP.
Nucleation Capital is a new venture fund focused on investing in next-generation nuclear energy and deep decarbonization. We are pleased to introduce ourselves to the broader nuclear community under the ANS theme “Invested in Nuclear.” Investing is always a forward-looking endeavor and, from what seemed to be an uncertain future, we’re delighted to see the industry anticipating substantial new growth and working to support it.
Bolstering this new outlook are important trends that are worth highlighting. We’re all seeing amazing shifts in how nuclear power is discussed. In the last few years, Nuclear has garnered surprise support from Democratic governors seeking to protect existing plants and Republican governors repealing old nuclear bans and vying to get next-gen plants sited in their states. In key pieces of federal climate legislation, nuclear has seen equal treatment under ITCs and PTCs and billions allocated to help save older plants and accelerate commercialization of new plants.
A rendering of the Sizewell site on the Suffolk coast. Sizewell A and B are to the left and center (respectively) in the image; the section to the right is Sizewell C. (Image: EDF Energy)
The British government has announced an investment of £679 million (about $828 million) in the proposed Sizewell C nuclear plant in Suffolk, England, confirming chancellor of the exchequer Jeremy Hunt’s remarks on the project in his November 17 Autumn Statement.
U.S. special envoy for climate John Kerry at COP27. (Photo: Embassy of Ukraine in the United States of America)
U.S. special envoy for climate John Kerry and Ukraine’s minister of energy German Galushchenko have announced a two-to-three-year pilot project aimed at demonstrating the commercial-scale production of clean hydrogen and ammonia from small modular reactors in Ukraine using solid oxide electrolysis.
From left: Romanian minister of energy Virgil Popescu, U.S. Export-Import Bank president and chair Reta Jo Lewis, Romanian president Klaus Iohannis, U.S. special presidential envoy for climate John Kerry, and U.S. State Department assistant secretary Geoffrey Pyatt. (Photo: ExIm)
The Export-Import Bank of the United States has issued two letters of interest (LOIs) for the financing of U.S.-sourced pre-project technical services in connection with the proposed reactor construction project at Romania’s Cernavoda nuclear plant, the bank announced last week.
Scheduled to appear at the Energy Security panel session at COP27: from left, moderator Sweta Chakraborty and speakers Kathryn Huff, Seth Grae, and Bonnie Jenkins.
The United Nations’ COP27 conference, held this year in Sharm el-Sheikh, Egypt, from November 6 to 18, will feature the panel discussion “Energy Security” on Tuesday, November 15, at 9:00 a.m. EST (4:00 p.m. local time). The discussion is being sponsored by the review platform We Don’t Have Time; the live stream will be available to viewers on their COP27 Climate Hub website.
The U.S. ITER Project Office in Oak Ridge, Tenn. U.S. ITER has received $256 million in Inflation Reduction Act funding. (Photo: U.S. ITER)
Just days before COP27 and the U.S. midterm elections, the White House announced $1.55 billion in Inflation Reduction Act (IRA) funding for national laboratories and the launch of a Net-Zero Game Changers Initiative based on a new report, U.S. Innovation to Meet 2050 Climate Goals. Out of 37 research and development opportunities identified, fusion energy was selected as one of just five near-term priorities for the new cross-agency initiative. Together, the announcements signal policy and infrastructure support for fusion energy—the biggest chunk of Department of Energy Office of Science (DOE-SC) IRA funding went to ITER, via Oak Ridge National Laboratory—and for advanced nuclear technologies to power the grid and provide process heat to hard-to-decarbonize industrial sectors.
A Northrop Grumman Antares rocket, with the Cygnus spacecraft Sally Ride aboard (so named for first American woman to fly in space), launched at 5:32 a.m. EST on November 7, from NASA's Wallops Flight Facility in Virginia. The rocket is captured just after liftoff in this still image from NASA’s live broadcast of the event.
Seeds from the joint laboratories of the International Atomic Energy Agency and the Food and Agriculture Organization of the United Nations (FAO) are onboard a Cygnus spacecraft launched from NASA’s Wallops Flight Facility in Virginia early on November 7. Now orbiting the Earth en route to the International Space Station, the seeds are part of a commercial resupply mission with a payload that includes resources to support more than 250 scientific investigations.
Kris Singh (left), president and CEO of Holtec International, and Young-Joon Yoon, president and CEO of Hyundai E&C. (Photo: Holtec International)
Holtec International and Hyundai Engineering & Construction (a Hyundai Motor Group subsidiary) have signed an accord to accelerate the completion of Holtec’s SMR-160 small modular reactor development program, as well as to collaborate on diverse clean energy technologies.
Indian Point nuclear power plant. (Photo: Daniel Case)
“If we’re serious about dealing with climate change, then we’re going to need all the tools in the toolbox, which includes nuclear, not just now but in the future,” Keith Schue, an electrical engineer affiliated with Nuclear New York is quoted as saying in an article on the (Lower Hudson Valley) Journal News website, lohud. Schue adds, “We do believe that closing Indian Point was a mistake. But are we going to continue making mistakes or can we learn from them?”
Romania’s Cernavoda Units 1 and 2. (Photo: Nuclearelectrica)
Romania’s Nuclearelectrica, the state-owned operator of the two-unit Cernavoda nuclear power plant, has awarded Candu Energy a contract to conduct design and engineering services for the facility’s Unit 1 refurbishment project, according to an announcement last week from SNC-Lavalin, Candu Energy’s parent company.