Latest news with #HALEU
Reuters
8 hours ago
- Business
- Reuters
US reactor builders need bigger fuel deals to avoid supply crunch
June 4 - The U.S. Department of Energy's commitment to supply high-assay low-enriched uranium (HALEU) to Westinghouse, Kairos Power, TerraPower, Radiant Industries and TRISO-X brings demonstration small modular reactors (SMRs) closer to reality. The first four firms are developing SMRs and have also received support from the DOE's Advanced Reactor Demonstration Program. TRISO-X, a subsidiary of SMR developer X-energy, is building a facility in Tennessee to produce HALEU-based TRISO fuel. The DOE selected the five companies in April under a multi-billion dollar nuclear fuel availability program launched in 2020. U.S. nuclear development activity has soared as surging power demand from AI accelerates the need for low carbon power generation. SMRs offer smaller capacities and land requirements than conventional large-scale nuclear plants, as well as longer operating cycles and increased efficiencies. 'TerraPower is pleased to see the commitment from President Trump's Department of Energy to supporting advanced nuclear energy, and the fuel needed for next generation reactors that allow them to operate more safely and efficiently than the current light-water reactor technology,' a TerraPower spokesperson told Reuters Events. Trump wants to accelerate a new wave of nuclear plant construction and on May 23 he ordered the DOE to issue a plan to expand production of several nuclear fuels, including HALEU, within 120 days. He also ordered the U.S. Nuclear Regulatory Commission (NRC) to streamline regulations and fast-track new licenses for reactors. Most SMR designs plan to use HALEU nuclear fuel and the U.S. has minimal production capacity. Developers have been racing to secure supplies of HALEU amid fears that a lack of domestic nuclear fuel supply chain could delay development of the industry. Russia is the largest global supplier of the fuel and the Biden administration banned uranium imports from Russia following its invasion of Ukraine. The DOE's allocation of HALEU to the five developers 'provides material for initial core loads to build and demonstrate their designs,' Adam Stein, director of nuclear energy innovation at the Breakthrough Institute, told Reuters Events. Huge investments must be made in the U.S. nuclear fuel supply chain to avoid bottlenecks in the coming years. 'Broader fuel availability will be needed for refueling and larger scale-up," Stein noted. "Lack of fuel availability to operate a reactor long-term is one concern potential buyers have right now." Fueling growth Westinghouse will use the fuel at its eVinci nuclear test reactor at National Reactor Innovation Center (NRIC) DOME facility at Idaho National Laboratory while TerraPower will use it to fuel its Natrium reactor in Kemmerer, Wyoming. Kairos Power will use the material to produce HALEU TRISO (tri-structural isotropic) fuel pebbles for its Hermes Low-Power Demonstration Reactor in partnership with the Los Alamos National Laboratory. 'The HALEU allocation from DOE will enable Kairos Power to demonstrate our advanced reactor technology, prove its ability to produce affordable nuclear heat, and generate crucial learning to support future fleet deployment,' Micah Hackett, Kairos Vice President, Fuels & Materials told Reuters Events. X-energy subsidiary TRISO-X is constructing a HALEU fuel fabrication facility at the DOE's site in Oak Ridge, Tennessee, and Radiant Industries is seeking funding to build its Kaleidos Development Unit microreactor for testing at the Idaho National Laboratory (INL). Strategies to overcome cost hurdles for new nuclear - download our webinar. The U.S. HALEU supply chain needs to grow rapidly if SMR technology is to move beyond the research and demonstration stage and become commercially viable. SMRs will typically need to refuel every five to seven years, according to the International Atomic Energy Agency (IAEA). 'DOE's announcement does not indicate whether or when additional allocations may be made available,' Steve Greene, Senior Fellow at the Nuclear Innovation Alliance, noted. U.S. demand for HALEU could reach 50 metric tons per year by 2035, with additional amounts required each year, according to the DOE. Centrus Energy is currently the only U.S. maker of the fuel and has the capacity to produce 900 kilograms per year. CHART: Forecast global nuclear capacity 'Developers will be dependent upon additional legacy materials for first cores until a supply chain is established," Westinghouse said in a statement to Reuters Events. "These [DOE] allocations do build familiarity with handling and transporting HALEU materials which will ultimately benefit a larger commercial supply chain," the company said. 'We believe orders for advanced reactors are the primary demand signal that will be required to spur enrichment companies to invest in HALEU production capacity,' Hackett said. USA buys Last October, the DOE awarded ten contracts with companies to provide enrichment services that will help establish and build out a domestic supply of HALEU and low-enriched uranium (LEU), and for deconversion services. The contracts establish a framework for DOE procurement and the DOE must make purchase agreements before the companies can invest in new production capacity. The 10-year contracts will each offer a minimum of $2 million, with up to $3.4 billion available from the 2022 Inflation Reduction Act (IRA). 'Investment in domestic HALEU production is still needed, and will require U.S. Government policy support as either an intermediate purchaser to provide adequate demand or through public-private partnerships in production facilities," Greene said. The DOE is behind schedule in implementing its nuclear fuel availability program and Trump's recent executive orders reiterated DOE's obligation to ensure that a long-term supply of enriched uranium is available for the continued operation of the projects, Greene noted. For exclusive nuclear insights, sign up to our newsletter. If government and private sector funding is provided, Centrus Energy could build a full-scale cascade producing six metric tons of HALEU per year within around 42 months, Dan Leistikow, vice president of corporate communications for Centrus, told Reuters Events. It would take a further six months to get another cascade online and another two months to get a third online, he said.
Yahoo
6 days ago
- Business
- Yahoo
Executive Orders Ignite U.S. Nuclear Push
Last Friday, the President signed four separate executive orders designed to accelerate nuclear energy development in the US. The first order directs the Department of Defense to deploy new reactor technologies at military installations. The second order, directed specifically at the Nuclear Regulatory Commission, mandated much tighter deadlines for new reactor approvals, demanded a review of current radiological exposure risks, and called for further agency staffing cuts. The third order directs the Department of Energy to test and approve no fewer than three new reactor designs by July 4, 2026. But the fourth of these EOs, where the real money is, 1) it called for the direct federal funding for uranium fuels (particularly HALEU), , 2) begin construction on at least ten new gigawatt scale reactors by the end of the decade, 3) and the development of reprocessing of spent nuclear fuel waste. In this context, the President garnered headlines when he called for an expansion of our existing nuclear power generation fleet to 400 gigawatts, roughly four times its present size, further stating 'We're not going to have cost overruns.' What's interesting to us is that virtually all of these initiatives were contained in the Biden administration's ADVANCE Act, signed in July of last year. This bipartisan bill contained many of the same elements as the President's recent EOs: regulatory acceleration of new reactor designs, a focus on microreactors, approval of two new reactor designs for military installations, encouraging the use of brownfield (i.e. coal) sites for new nuclear deployment, and the allocation of federal funds for actual uranium purchases related to HALEU and TRISO fuels—the former preferred by SMRs and the latter used in molten salt and HTGRs. The ADVANCE Act was an acknowledgement that our existing regulatory process has given short shrift to advanced reactor designs using different coolants and fuels and a new, emerging industry—one with considerable political clout—was demanding faster regulatory approvals. However, the only glaring difference between Trump's recent EO's and Biden's ADVANCE Act is that the recent EOs urged further big cuts in regulatory personnel, while demanding they do more on expedited timelines, while Biden's bill called for staffing increases to address new issues. So to us, an honest headline for this should read, 'Trump wholeheartedly embraces Biden's nuclear policy with a few personnel tweaks.'In signing these EOs, Trump was accompanied by the CEOs from Constellation Energy and Oklo Power. Constellation is one of the biggest nuclear power owner/operators in the US, while Oklo is developing a small, 75 mw liquid metal cooled breeder reactor. Stock prices of SMR developers like NuScale, Oklo, and others rallied sharply. In the past five days, shares of NuScale have gained about 55% while Oklo's shareholders were rewarded with 52% gains. The point here is that the administration is clearly indicating continued support for this industry and the equity markets responded. As to the magnitude of the response, we have no views. But despite all the SMR hoopla, there is only one gigawatt reactor design presently approved for the US, already built, and ready to go—the Westinghouse AP 1000 recently built by Southern Company, aka Plant Vogtle Units 3&4. However, as our readers know, Westinghouse is a subsidiary of a Canadian conglomerate. So it's a bit awkward. We conclude with two thoughts. First, the President, by picking a fight with his Canadian trading partner, may hinder his ability to rapidly accomplish a nuclear renaissance. And second, nuclear energy is evolving as a global industry and tariff uncertainty is also problematic. By Leonard Hyman and William Tilles for More Top Reads From this article on
Yahoo
28-05-2025
- Business
- Yahoo
Trump aims for 400 GW of nuclear by 2050, 10 large reactors under construction by 2030
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. The White House wants to deploy 300 GW of net new nuclear capacity by 2050 and have 10 large reactors under construction in the U.S. by 2030 while expanding domestic nuclear fuel supplies, according to an executive order President Trump signed Friday. Trump signed three other orders on Friday to accelerate Nuclear Regulatory Commission reviews of reactor license applications and reconsider strict NRC radiation limits; expand departments of Energy and Defense roles in nuclear power plant licensing and siting; and speed up deployment of new test reactors. Nuclear power advocates hailed the orders as a boon for the industry, but warned that staff cuts at NRC and DOE could slow progress. A representative for the Union of Concerned Scientists said the proposed reforms would make the public less safe. Shares of publicly-traded advanced nuclear and reactor fuel companies soared on Friday, suggesting investors see Trump's orders as more than just words on paper. Oklo, the advanced reactor developer previously chaired by Energy Secretary Chris Wright, was up more than 20% since Friday afternoon. Oklo's shares got another boost Tuesday morning as it announced a design and development partnership with Korea Hydro & Nuclear Power to accelerate deployment of its Aurora powerhouses. Shares of small modular reactor developer NuScale and uranium suppliers Centrus Energy and Uranium Energy also rose more than 20% in Friday and early Tuesday trading. Trump's 'Reinvigorating the Nuclear Industrial Base' executive order called on Wright and other cabinet secretaries to develop a national policy for spent nuclear fuel management. The order singles out recycling and reprocessing activities that could benefit companies like Oklo, which plans to build fuel reprocessing capabilities and is developing reactors that can run on recycled fuel. Another order, 'President Donald J. Trump Deploys Advanced Nuclear Reactor Technologies for National Security,' calls on Wright 'to release at least 20 metric tons of high-assay low-enriched uranium into a readily available fuel bank for private sector projects operating nuclear reactors to power AI infrastructure at DOE sites.' Congress last year banned Russian uranium imports from 2028, cutting off a key supply of HALEU in particular and adding urgency to ongoing federal efforts to expand domestic supplies. 'Reinvigorating the Nuclear Industrial Base' also calls for the DOE Loan Programs Office to prioritize support for construction of new large reactors and 5 GW of power uprates to existing reactors by 2030. It specifically mentions support for 'completing construction of nuclear reactors that was prematurely suspended,' signaling possible LPO support for the completion of the two unfinished AP1000 reactors at Santee Cooper's VC Summer site in South Carolina. Recent changes at DOE could undermine that goal, Nuclear Innovation Alliance President and CEO Judi Greenwald said in a statement. 'Recent DOE staffing reductions and proposed budget cuts undermine the Department's efforts and make it harder to implement these executive orders,' Greenwald said. 'We urge the Administration and Congress to adequately resource and staff DOE to meet this moment.' Greenwald said proposed NRC process changes in another executive order, 'President Donald J. Trump Directs Reform of the Nuclear Regulatory Commission,' while well-intentioned, could also prove counterproductive. 'NIA has long thought it is important that NRC improve the efficiency of its activities,' she said. 'However …[o]ur assessment is that NRC is already making significant progress on reform in compliance with congressional direction including the 2024 ADVANCE Act. It is in everyone's interest that this progress continue and not be undermined by staffing cuts or upended by conflicting directives.' Greenwald added that the 'effectiveness, efficiency and independence' of the NRC is essential for public confidence in nuclear power and for ongoing efforts to commercialize and export nuclear technology. Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists, was more blunt in a statement that also criticized the administration's proposal to involve other federal departments in nuclear reactor siting, licensing and fuel supply. 'The U.S. nuclear industry will fail if safety is not made a priority,' Lyman said. 'By fatally compromising the independence and integrity of the NRC, and by encouraging pathways for nuclear deployment that bypass the regulator entirely, the Trump administration is virtually guaranteeing that this country will see a serious accident or other radiological release that will affect the health, safety and livelihoods of millions.' Setting aside potential safety risks, involving the departments of defense and energy could cause needless confusion for nuclear technology developers, said Atomic Canyon CEO Trey Lauderdale. 'New capabilities for the Department of Defense and DOE to license and oversee projects could actually create additional red tape as companies navigate between three new potential oversight bodies instead of one,' Lauderdale said. Recommended Reading Nuclear industry 'facing some headwinds' amid congressional budget fight: NEI CEO
Yahoo
24-05-2025
- Business
- Yahoo
Centrus Energy (LEU) Gained Over 21% Today. Here is Why.
The share price of Centrus Energy Corp. (NYSEAMERICAN:LEU) surged by 21.37% on May 23, 2025. Let's shed some light on the development. Centrus Energy Corp. (NYSEAMERICAN:LEU) is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus Energy Corp. (NYSEAMERICAN:LEU) received a boost on Friday after President Donald Trump signed executive orders to jumpstart the country's nuclear power industry by overhauling the Nuclear Regulatory Commission and speeding up the deployment of new reactors. The strategic move also aims to strengthen supply chains by jump-starting the mining and enrichment of uranium on American soil. Given the tense geopolitical landscape and the ongoing tariff war, the White House wants to reduce reliance on Russia and China for enriched uranium, nuclear fuel processing, and advanced reactor inputs. The development is extremely bullish for a company like Centrus Energy, since it spearheads the domestic production of High Assay Low-Enriched Uranium (HALEU), a critical component for powering next-generation nuclear reactors. It is worth mentioning that earlier this month, Centrus Energy Corp. (NYSEAMERICAN:LEU) posted stellar results for the second consecutive quarter in its Q1 2025. The company's EPS of $1.6 beat expectations by a significant $1.65, while its revenue also surged by 67.3% YoY to $73.1 million, and topped estimates by almost $5 million. While we acknowledge the potential of LEU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LEU and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Centrus Energy (LEU) Gained Over 21% Today. Here is Why.
The share price of Centrus Energy Corp. (NYSEAMERICAN:LEU) surged by 21.37% on May 23, 2025. Let's shed some light on the development. Centrus Energy Corp. (NYSEAMERICAN:LEU) is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus Energy Corp. (NYSEAMERICAN:LEU) received a boost on Friday after President Donald Trump signed executive orders to jumpstart the country's nuclear power industry by overhauling the Nuclear Regulatory Commission and speeding up the deployment of new reactors. The strategic move also aims to strengthen supply chains by jump-starting the mining and enrichment of uranium on American soil. Given the tense geopolitical landscape and the ongoing tariff war, the White House wants to reduce reliance on Russia and China for enriched uranium, nuclear fuel processing, and advanced reactor inputs. The development is extremely bullish for a company like Centrus Energy, since it spearheads the domestic production of High Assay Low-Enriched Uranium (HALEU), a critical component for powering next-generation nuclear reactors. It is worth mentioning that earlier this month, Centrus Energy Corp. (NYSEAMERICAN:LEU) posted stellar results for the second consecutive quarter in its Q1 2025. The company's EPS of $1.6 beat expectations by a significant $1.65, while its revenue also surged by 67.3% YoY to $73.1 million, and topped estimates by almost $5 million. While we acknowledge the potential of LEU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LEU and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
