logo
Westinghouse and Energoatom Reinforce Ukraine's Energy Independence with Partnership for Fuel Assembly Capability

Westinghouse and Energoatom Reinforce Ukraine's Energy Independence with Partnership for Fuel Assembly Capability

Business Wire7 days ago
ROME--(BUSINESS WIRE)--Westinghouse Electric Company and JSC 'NNEGC 'Energoatom,' Ukraine's national nuclear power company, signed an agreement at the Ukraine Recovery Conference to jointly pursue final fuel assembly capability in Ukraine. This cooperation deepens the partnership between both companies around security of fuel supply for Ukraine's nuclear fleet, leveraging the Westinghouse VVER fuel solution, the only fully Western VVER fuel offering.
Petro Kotin, Acting CEO of JSC 'NNEGC 'Energoatom,' and Aziz Dag, Westinghouse Senior Vice-President of Global BWR and VVER Fuel Business, signed the declaration in the presence of Ukraine's Minister of Energy, German Galuschenko The agreement confirms the intention to establish an assembly line for VVER-1000 fuel elements at the facilities of Energoatom's affiliate AtomEnergoMash. It is expected that the final agreement will be signed in the near future.
Earlier this year, Westinghouse approved AtomEnergoMash as a qualified supplier for the manufacturing of top and bottom nozzles for Westinghouse's VVER-1000 fuel assemblies in Ukraine, paving the way for this new advanced fuel assembly capability in the country.
"We are continuing our path to establishing our nuclear fuel assembly line in Ukraine by implementing advanced Westinghouse technologies. I am very grateful to our partners for their trust, based on many years of successful cooperation. Step by step, Energoatom is moving towards becoming the centre of nuclear energy in Eastern Europe," said Petro Kotin, head of JSC 'NNEGC 'Energoatom'.
'We are proud to extend our strong partnership and shared commitment to energy security in Ukraine,' said Tarik Choho, Westinghouse Nuclear Fuel President. 'Westinghouse has an excellent track record of VVER nuclear fuel design used in VVER-1000 and VVER-440 nuclear power plants in Ukraine, with two decades of exceptional operational performance. Our best-in-class fuel assemblies help Ukraine and other countries reduce their dependence on Russian nuclear fuel supply chains and advance a carbon-free future.'
Besides providing Ukraine's existing nuclear fleet with its industry-leading fuel, Westinghouse has committed to build nine AP1000 ® reactors in Ukraine. The AP1000 reactor is the only operating advanced Generation III+ reactor with fully passive safety systems, modular construction design and the smallest footprint per MWe on the market. There are six AP1000 reactors currently setting operational performance and availability records worldwide, with twelve reactors under construction and six more under contract. There will be 18 units based on AP1000 technology in operation globally by the end of the decade. The AP1000 technology has also been selected for nuclear energy programs in Poland and Bulgaria and is also under consideration at multiple other sites in Europe, the United Kingdom and North America.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957, and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and X.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ASX Penny Stock Highlights For July 2025
ASX Penny Stock Highlights For July 2025

Yahoo

time4 hours ago

  • Yahoo

ASX Penny Stock Highlights For July 2025

The Australian market has remained flat over the past week but has shown a 6.9% increase over the last year, with earnings projected to grow by 11% annually in the coming years. Despite their vintage name, penny stocks represent smaller or less-established companies that can offer significant value when chosen wisely. By focusing on those with strong financial foundations and growth potential, investors may uncover opportunities for both stability and upside in this niche area of investment. Top 10 Penny Stocks In Australia Name Share Price Market Cap Financial Health Rating Alfabs Australia (ASX:AAL) A$0.375 A$107.47M ★★★★☆☆ EZZ Life Science Holdings (ASX:EZZ) A$2.21 A$104.25M ★★★★★★ GTN (ASX:GTN) A$0.59 A$112.49M ★★★★★★ IVE Group (ASX:IGL) A$3.05 A$470.25M ★★★★★☆ West African Resources (ASX:WAF) A$2.31 A$2.63B ★★★★★★ Southern Cross Electrical Engineering (ASX:SXE) A$1.77 A$468M ★★★★★★ Regal Partners (ASX:RPL) A$2.58 A$867.46M ★★★★★★ Sugar Terminals (NSX:SUG) A$0.99 A$360M ★★★★★★ Navigator Global Investments (ASX:NGI) A$1.72 A$842.94M ★★★★★☆ CTI Logistics (ASX:CLX) A$1.85 A$149.01M ★★★★☆☆ Click here to see the full list of 458 stocks from our ASX Penny Stocks screener. Let's dive into some prime choices out of the screener. Genesis Minerals Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Genesis Minerals Limited focuses on the exploration, production, and development of gold deposits in Western Australia with a market cap of A$4.59 billion. Operations: The company generates revenue of A$561.40 million from its mineral production, exploration, and development activities. Market Cap: A$4.59B Genesis Minerals Limited has shown promising developments as it transitions into profitability, with earnings forecasted to grow significantly. The company maintains a strong balance sheet, with short-term assets exceeding both short and long-term liabilities. Despite a low return on equity of 11%, Genesis trades below its estimated fair value, indicating potential upside. Recent executive changes include the appointment of Jane Macey as a Non-Executive Director, bringing extensive industry experience which could enhance strategic direction. While the board's average tenure is relatively short at 2.8 years, management stability and high-quality earnings bolster investor confidence in this evolving entity. Take a closer look at Genesis Minerals' potential here in our financial health report. Explore Genesis Minerals' analyst forecasts in our growth report. IVE Group Simply Wall St Financial Health Rating: ★★★★★☆ Overview: IVE Group Limited operates in the marketing industry in Australia, with a market capitalization of A$470.25 million. Operations: The company generates revenue of A$975.43 million from its advertising segment. Market Cap: A$470.25M IVE Group Limited has demonstrated robust earnings growth, with a 179.7% increase over the past year, significantly outpacing the media industry's average. Despite a high net debt to equity ratio of 56%, its debt is well covered by operating cash flow at 76.8%. The company's seasoned management and board contribute to strategic stability, while short-term assets comfortably cover both short and long-term liabilities. Trading at nearly 70% below its estimated fair value suggests potential undervaluation. However, investors should note the unstable dividend track record and low return on equity of 19.9%. Dive into the specifics of IVE Group here with our thorough balance sheet health report. Understand IVE Group's earnings outlook by examining our growth report. Pantoro Gold Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Pantoro Gold Limited, with a market cap of A$1.18 billion, is involved in gold mining, processing, and exploration activities in Western Australia. Operations: The company's revenue is primarily derived from the Norseman Gold Project, which generated A$289.11 million. Market Cap: A$1.18B Pantoro Gold Limited, with a market cap of A$1.18 billion, is focused on gold mining in Western Australia. The company has not yet reached profitability and its losses have increased by 32% annually over the past five years. Despite this, Pantoro's short-term assets of A$128.9 million exceed both its short and long-term liabilities, ensuring financial stability in the near term. Additionally, it maintains a positive free cash flow with a sufficient cash runway for over three years even if cash flow shrinks by 23.6% annually. The management team is seasoned with an average tenure of 10.8 years. Click to explore a detailed breakdown of our findings in Pantoro Gold's financial health report. Examine Pantoro Gold's earnings growth report to understand how analysts expect it to perform. Taking Advantage Embark on your investment journey to our 458 ASX Penny Stocks selection here. Ready To Venture Into Other Investment Styles? AI is about to change healthcare. These 27 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:GMD ASX:IGL and ASX:PNR. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

A look at some of the major investments unveiled during AI and energy summit in Pittsburgh
A look at some of the major investments unveiled during AI and energy summit in Pittsburgh

CBS News

time8 hours ago

  • CBS News

A look at some of the major investments unveiled during AI and energy summit in Pittsburgh

With pomp and fanfare, the inaugural Pennsylvania Energy and Innovation Summit on Tuesday in Pittsburgh showcased the technological know-how of the region's universities and vast energy resources. While several investments were unveiled, the region's aspirations are much bigger. "The question we have to ask is what happens when that circus leaves? We have to make sure that this translates into investment into the city," Gecko Robotics CEO Jake Loosararian said. A lot of the investments announced on Tuesday are in the discussion phase, and most of the big-ticket projects are in the eastern part of the state. But in southwestern Pennsylvania, the focus is on generating the massive amounts of energy artificial intelligence requires. A $15 billion retrofit of the Homer City power plant to natural gas is expected to power a massive data center providing AI companies the computing capacity needed, and FirstEnergy says it's investing $15 billion in upgrades to Pennsylvania's power grid to provide the reliable transmission of electricity. "To enable things like artificial intelligence development, shale development and any other form of economic and technological development that there is," FirstEnergy CEO Brian Tierney said. But the biggest news involves Cranberry-based Westinghouse, which announced it will be building 10 large nuclear reactors across the country beginning in 2030, creating $75 billion of economic value nationally and $6 billion in Pennsylvania. Emerging from bankruptcy in 2018, the resurgent company says it needs to hire 15,000 new employees in the state. "These are great jobs across manufacturing, engineering and construction," interim Westinghouse CEO Dan Sumner said. Ramped-up energy production will enable the construction of more data centers like the one now proposed at the old Jones and Laughlin Steel site in Aliquippa, and centers like it are needed to spawn new AI and robotic companies like Pittsburgh's Gecko, which just recently attained unicorn status, meaning it's worth more than $1 billion. "We need to see investment from those companies into this region and continue to do so," Loosararian said. "You'll start to see an ecosystem of companies like Gecko beginning to emerge." And the summit is already spawning deals to employ AI technology, a partnership between Gecko and U.S. Steel, and another partnership between Google and Westinghouse. All of this is contributing to a new AI economy here in the region.

TikTok Continues to Face Challenges With its In-Stream Shopping Push
TikTok Continues to Face Challenges With its In-Stream Shopping Push

Yahoo

time9 hours ago

  • Yahoo

TikTok Continues to Face Challenges With its In-Stream Shopping Push

This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. TikTok's plan to convert itself into a global eCommerce powerhouse continues to face challenges, with the platform's in-stream shopping options now struggling to gain significant ground in Indonesia, where TikTok had been seeing higher levels of shopping success. Last year, TikTok acquired local online retail provider Tokopedia, in order to comply with local regulations that limit social media companies from operating eCommerce platforms. The idea was that this would enable TikTok to both align with its legal requirements, while also piggybacking off of Tokopedia's success, with the shopping app having established itself as a key online commerce tool in the region. But reports suggest that it hasn't played out the way that TikTok hoped. According to Rest of World, TikTok has since pushed Tokopedia sellers to make TikTok-like content, which is very different from the static product shots they could add to Tokopedia. Sellers have also reported lower site visits, as well as higher fees and ad costs, which has prompted many of them to switch to other commerce platforms instead. So rather than building TikTok's online shopping presence, it's seemingly now taken it back a step. Which would be a particularly tough pill to swallow for TikTok, given that it paid $US840 million for Tokopedia, and TikTok had been gaining traction with its in-stream sales options in South East Asian markets. It hasn't, however, seen the same success in Western regions, where consumers continue to prefer to keep their shopping activity separate from their social and/or entertainment apps. For whatever reason, Western users haven't shown the same preference as Chinese digital consumers to cram as much functionality as they can into a single app, which is what's seen platforms like WeChat and TikTok become major money makers in the Chinese local market. And now, TikTok's sales push is stalling in other regions as well, and it'll be interesting to see whether TikTok looks to shift focus onto its ad business instead, if it can't gain real traction for its online shopping options. But then again, TikTok shopping is steadily rising, just not as fast as TikTok would like. Last month, TikTok reported that: 'Over the past year, our community of sellers has expanded into more than 750 categories, bringing shoppers an incredible selection of over 70 million products. So far in 2025, our growing community of shoppers, sellers, and creators has driven impressive momentum across the TikTok Shop platform. In the U.S., TikTok Shop sales have increased 120% compared to the same period last year.' So TikTok shopping is on the rise, but it's a far cry from the immediate success that the company saw with its shopping options in China. Indeed, shopping is now the top revenue stream for Douyin, the Chinese version of the app, with Douyin bringing in $US490 billion in gross merchandise value (GMV) in 2024 alone. By comparison, TikTok reportedly generated around $US33 billion in GMV, across all other markets. The numbers underline the potential, but also the challenge, in that TikTok has been pushing its shopping options for four years now, and they haven't gained at the same rate as they have in the Chinese market. But it's still potentially an area of opportunity. And while TikTok is facing pushback in some regions, it seems likely that it'll continue to plough on with its shopping options, with a view to tapping into that same potential in more regions. Challenges remain, but there's seemingly enough growth to keep TikTok focused on making this a thing, which is worth noting for online sellers. Recommended Reading TikTok Shares Data on Account Removals and Government Requests in 2024 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store