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Korea Herald
19-02-2025
- Business
- Korea Herald
[Kim Jong-hoon] Nuclear power can reenergize US, Korea
The age of the AI transformation is upon us, driven by profound breakthroughs in AI technology. Entire industries and societies are poised for disruption by innovations such as ChatGPT, with the United States standing at the forefront of this transformation. Yet these extraordinary strides come with a formidable challenge: the explosive demand for energy to power the AI data centers that enable such growth. According to Reuters, energy consumption by AI data centers in the US is expected to triple by 2028, accounting for as much as 12 percent of the nation's total electricity supply. Given this significant strain on the power grid, nuclear energy is becoming more critical as a key energy source to address this challenge. Unlike intermittent renewables such as wind and solar, nuclear power offers a stable, continuous supply capable of satisfying the demand of energy-intensive infrastructures such as AI data centers. Despite this potential, however, nuclear power plant construction in the US is progressing much more slowly than expected. Plant Vogtle in Georgia, for instance, was delayed by over seven years with excess costs ballooning to about $20 billion, while the VC Summer expansion project in South Carolina was abandoned at 40 percent completion after drawing investments worth $10 billion. Similar setbacks have plagued nuclear projects in other nations. Electricite de France's Flamanville 3 in France and Finland's Olkiluoto 3 suffered delays extending over a decade and costs exceeding the tens of billions. These cases highlight the complexity and unpredictability of nuclear projects, underscoring the need for more efficient and cost-effective alternatives. On the other hand, South Korea is globally recognized for its competitive nuclear power plant construction. What the nation brings to the table is its unparalleled ability to deliver projects on time and on budget. The successful completion of four APR-1400 reactors for the Barakah Nuclear Power Plant in the UAE within the agreed timeframe and budget stands as a testament to South Korea's efficient supply chain management and robust project execution. By working together, South Korea and the US can alleviate uncertainties in construction and execute stable, cost-effective nuclear projects. Moreover, strengthening nuclear cooperation between the US and South Korea is essential for energy security. The US currently relies on Russia for 25 percent of its enriched uranium -- a clear vulnerability in its nuclear supply chain that can be readily addressed through Korea-US cooperation. Resuming the High-Level Bilateral Commission on nuclear energy would be a critical step in that direction. The HLBC serves as the official platform for coordinating bilateral nuclear policies, engaging in far-reaching discussions on technological cooperation, supply chain stabilization and nonproliferation. Jumpstarting these talks will enable our two nations to successfully complete nuclear projects on the basis of our close cooperation while solidifying our leadership in the future nuclear market. If the US and South Korea cooperate, the two nations could not only secure leadership in nuclear construction within the US but also in the global market. With the US providing the technological expertise and funding, and South Korea demonstrating its proven capabilities in engineering, procurement and construction, we can ensure the effective rollout of large-scale light-water reactors and small modular reactors. Not only will this partnership guarantee reliable energy that is so crucial in the era of AI but it will also help respond to the growing global demand for nuclear power. US-South Korea nuclear cooperation will be a strategic alliance that goes beyond mere industrial collaboration, helping to design the energy security and economic future of both nations. The revival of the HLBC will be a vital step toward advancing this collaboration and resolving the energy demand in the Age of AI while positioning both nations as leaders in the global nuclear energy industry.
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Korea Herald
18-02-2025
- Business
- Korea Herald
[Kim Jong-hoon] US-South Korea nuclear cooperation
The age of the AI transformation is upon us, driven by profound breakthroughs in AI technology. Entire industries and societies are poised for disruption by innovations such as ChatGPT, with the United States standing at the forefront of this transformation. Yet these extraordinary strides come with a formidable challenge: the explosive demand for energy to power the AI data centers that enable such growth. According to Reuters, energy consumption by AI data centers in the US is expected to triple by 2028, accounting for as much as 12 percent of the nation's total electricity supply. Given this significant strain on the power grid, nuclear energy is becoming more critical as a key energy source to address this challenge. Unlike intermittent renewables such as wind and solar, nuclear power offers a stable, continuous supply capable of satisfying the demand of energy-intensive infrastructures such as AI data centers. Despite this potential, however, nuclear power plant construction in the US is progressing much more slowly than expected. Plant Vogtle in Georgia, for instance, was delayed by over seven years with excess costs ballooning to about $20 billion, while the VC Summer expansion project in South Carolina was abandoned at 40 percent completion after drawing investments worth $10 billion. Similar setbacks have plagued nuclear projects in other nations. Electricite de France's Flamanville 3 in France and Finland's Olkiluoto 3 suffered delays extending over a decade and costs exceeding the tens of billions. These cases highlight the complexity and unpredictability of nuclear projects, underscoring the need for more efficient and cost-effective alternatives. On the other hand, South Korea is globally recognized for its competitive nuclear power plant construction. What the nation brings to the table is its unparalleled ability to deliver projects on time and on budget. The successful completion of four APR-1400 reactors for the Barakah Nuclear Power Plant in the UAE within the agreed timeframe and budget stands as a testament to South Korea's efficient supply chain management and robust project execution. By working together, South Korea and the US can alleviate uncertainties in construction and execute stable, cost-effective nuclear projects. Moreover, strengthening nuclear cooperation between the US and South Korea is essential for energy security. The US currently relies on Russia for 25 percent of its enriched uranium -- a clear vulnerability in its nuclear supply chain that can be readily addressed through Korea-US cooperation. Resuming the High-Level Bilateral Commission on nuclear energy would be a critical step in that direction. The HLBC serves as the official platform for coordinating bilateral nuclear policies, engaging in far-reaching discussions on technological cooperation, supply chain stabilization and nonproliferation. Jumpstarting these talks will enable our two nations to successfully complete nuclear projects on the basis of our close cooperation while solidifying our leadership in the future nuclear market. If the US and South Korea cooperate, the two nations could not only secure leadership in nuclear construction within the US but also in the global market. With the US providing the technological expertise and funding, and South Korea demonstrating its proven capabilities in engineering, procurement and construction, we can ensure the effective rollout of large-scale light-water reactors and small modular reactors. Not only will this partnership guarantee reliable energy that is so crucial in the era of AI but it will also help respond to the growing global demand for nuclear power. US-South Korea nuclear cooperation will be a strategic alliance that goes beyond mere industrial collaboration, helping to design the energy security and economic future of both nations. The revival of the HLBC will be a vital step toward advancing this collaboration and resolving the energy demand in the Age of AI while positioning both nations as leaders in the global nuclear energy industry.
Yahoo
06-02-2025
- Business
- Yahoo
Pink Hydrogen Market to Worth Over US$ 8,082 Million by 2033
Pink hydrogen market growth driven by nuclear advancements and decarbonization goals, with Europe leading in market share and significant investments in production technologies. New Delhi, Feb. 06, 2025 (GLOBE NEWSWIRE) -- The global pink hydrogen market was valued at US$ 277 million in 2024 and is expected to reach US$ 8,082 million by 2033, growing at a CAGR of 52.30% during the forecast period 2025–2033. Pink hydrogen, created via nuclear-powered electrolysis, is swiftly emerging as a viable low-carbon solution for numerous applications in 2024. Demand is significantly driven for pink hydrogen market by logistics and retail giants, with 25,000 hydrogen-fueled industrial trucks already in service at companies such as Walmart, FedEx, and Coca-Cola. In the refining domain, Indian Oil aims to replace 200,000 metric tons of conventional hydrogen with low-carbon alternatives, demonstrating a major pivot to cleaner energy pathways. Japan remains a standout market, targeting three million tons of hydrogen consumption by 2030. Meanwhile, at least ten countries—including the United States, France, Canada, Japan, and China—are actively exploring pink hydrogen to diversify their clean energy portfolios, recognizing the necessity of stable baseload sources for reaching ambitious decarbonization goals. Download Free Sample Pages @ Beyond geographic expansion, multiple industries across the global pink hydrogen market are lining up to adopt pink hydrogen. Approximately 3,000 industrial facilities have commenced studies to partially replace fossil fuels with hydrogen, a vital step in curbing global emissions. Supporting this surge, 12 nuclear reactors in locations such as Bruce Power in Ontario (Canada), Diablo Canyon in California (USA), Sizewell B in Suffolk (UK), Olkiluoto 3 (Finland), Ringhals 3 (Sweden), Borssele (Netherlands), Tarapur (India), Tihange (Belgium), Kori (South Korea), Gravelines (France), Kashiwazaki-Kariwa (Japan), and Fessenheim (France) have been retrofitted with dedicated hydrogen production systems. This demonstrates international confidence in integrating hydrogen production directly within nuclear infrastructure. In addition, 25 major corporations have begun incorporating pink hydrogen within their sustainability roadmaps, while over 100 patents filed focus specifically on advancing high-temperature steam electrolysis (HTSE) and related technologies. These developments underscore how pink hydrogen is rapidly transitioning from niche technology to a cornerstone of future energy systems. Key Findings in Pink Hydrogen Market Market Forecast (2033) US$ 8,082 million CAGR 52.30% Largest Region (2024) Asia Pacific (40%) By Production Process PEM Electrolysis (40%) By Form Gas (80%) By End Users Refinery (40%) Top Drivers Supportive government policies promoting clean energy and carbon neutrality goals Technological advancements in nuclear power enhancing production efficiency and safety Growing demand for low-carbon hydrogen in industrial and transportation sectors Top Trends Integration of advanced nuclear technologies with hydrogen production processes Development of small modular reactors for scalable hydrogen production Increasing collaborations between nuclear energy and hydrogen technology companies Top Challenges High initial capital investment requirements for nuclear-based hydrogen production facilities Technological complexities in scaling up nuclear-powered hydrogen production processes Public perception and acceptance of nuclear energy for hydrogen production Technological Advancements Driving Pink Hydrogen Market Efficiency Forward Globally Technological breakthroughs are vital for maintaining pink hydrogen market's momentum, especially in energy-intensive industries. Wherein, the steel sector alone would require approximately 75 million tons of hydrogen each year to replace coal in iron ore reduction. In parallel, the chemical industry's combined ammonia and methanol production has pushed hydrogen demand to 45 million tons by 2024. Key to meeting these numbers is high-temperature steam electrolysis (HTSE), which consumes roughly one-third less energy than traditional low-temperature methods. From a production standpoint, a standard nuclear reactor employing HTSE can yield 2,000 kilograms of hydrogen per day—a testament to how advanced electrolyzer designs can unlock substantial energy efficiency gains. This progress extends to pioneering projects and regional initiatives in the global pink hydrogen market. Four U.S. nuclear demonstration projects together produce 50,000 kilograms of hydrogen daily, showcasing a collaborative effort among public and private partners. Meanwhile, the European Union envisions six gigawatts of renewable electrolyzer capacity by 2024, a plan that can complement nuclear-sourced electrolysis capabilities and potentially merge pink and green hydrogen supply chains. On the public funding front, at least four active nuclear hydrogen pilot programs have received government support in the United States—indicative of growing institutional trust. In academic circles, 15 research institutes publish peer-reviewed studies on these HTSE implementations, continuously improving performance metrics, cost structures, and the technology's scalability. Altogether, these advancements highlight how innovation and policy converge to build a robust foundation for pink hydrogen, paving the way for stable, large-scale deployment that meets industrial and societal needs. Major Projects and Global Pink Hydrogen Expansion The pink hydrogen market is witnessing significant momentum through large-scale global projects and initiatives. Around 20 nuclear plants are currently assessing the feasibility of integrated hydrogen production, where reactor heat and power are optimized for electrolysis. These projects are expected to offset approximately 1 million tons of CO₂ emissions annually, making them an essential tool for combating climate change. Collaboration is another key driver, with 500 organizations globally working together to refine nuclear-electrolysis technologies, standardize safety protocols, and reduce production costs. Specific industries and regions are also advancing pink hydrogen market adoption. For example, the steel industry, which is responsible for high carbon emissions, is exploring hydrogen-based direct reduced iron (DRI) processes, with seven steel manufacturers globally leading the transition. In transportation, ten heavy-haul transport projects are testing hydrogen-powered freight trucks, marking a shift away from diesel fuels. Aerospace is another emerging sector, with eight companies researching hydrogen for long-duration flights. Additionally, two turbine manufacturers have begun adapting designs for hydrogen-rich fuel blends, enabling cleaner power generation. These projects, spanning continents and industries, underscore pink hydrogen's versatility and its potential to decarbonize hard-to-abate sectors. Learn more about this report before you buy: Industry Sectors Embracing Pink Hydrogen: Transport, Steel, and Beyond Globally Multiple industries are now testing pink hydrogen's practical viability. Nine maritime operators are exploring hydrogen propulsion for cargo ships, aiming to reduce heavy fuel oil consumption and meet international emission regulations. The research ecosystem around pink hydrogen market continues to expand: six government-backed R&D hubs are dedicated to studying nuclear-hydrogen synergies, while four top-tier universities have introduced specialized programs in nuclear-based hydrogen engineering. Furthermore, one cross-continental hydrogen pipeline proposal specifically examines the feasibility of transporting pink hydrogen, reflecting cross-border partnerships moving beyond basic research to implement infrastructure networks that enable wide-scale adoption. Beyond these early adopters, the nuclear energy landscape in the pink hydrogen market itself is evolving. 50 additional nuclear reactors around the world are under assessment for hydrogen co-production, with emphasis on HTSE alignment and heat utilization. Fourteen cross-industry consortia work to standardize pink hydrogen safety and operational protocols, ensuring trust and consistency in policy frameworks. Meanwhile, five maritime ports are creating hydrogen fueling facilities partially powered by nuclear-sourced electricity, thereby facilitating shipping decarbonization. The supply chain also sees robust activity: 22 specialized electrolysis equipment vendors have joined forces with nuclear utilities to refine and mass-produce advanced electrolyzers. These dynamic collaborations underscore the comprehensive approach to weaving pink hydrogen into the operational fabric of sectors like shipping, fertilizer production, and utilities. By enlisting the support of energy companies, research universities, and government-backed programs, pink hydrogen's industrial reach is broadening, setting the stage for a new era where nuclear-driven electrolytic hydrogen underpins cleaner transportation, manufacturing, and power generation practices worldwide. Policy, Collaboration, and Future: Ensuring Pink Hydrogen's Global Sustainable Momentum Strategic policy support and collaborative efforts will be key to securing pink hydrogen market future. In the U.S., three national labs focus on leveraging nuclear-sourced hydrogen for grid balancing, while two major certification bodies are drafting guidelines that could shape global pink hydrogen trade. Eighteen feasibility studies are underway to test pink hydrogen's role in fertilizer production, a prominent area looking to slash carbon footprints by replacing conventional ammonia synthesis. Furthermore, nine pilot programs investigate how storage networks combining both pink and green hydrogen can enhance supply resilience during peak demand periods. These initiatives, buttressed by strong government incentives and private investment, highlight the market's readiness to adopt solutions that align with net-zero targets. Looking beyond present projects, Advanced Water Treatment committees are stepping up. Six technical committees worldwide explore wastewater reuse strategies in pink hydrogen processes, aiming to lower freshwater consumption and increase system sustainability. In an example of cross-border synergy, one multi-country pact is examining nuclear-hydrogen supply agreements for shared energy security. Meanwhile, professional societies across the pink hydrogen market host specialized conferences to openly discuss breakthroughs in pink hydrogen technologies, design best practices, and relevant safety frameworks. Most importantly, 16 strategic frameworks around the world now recognize pink hydrogen as a primary decarbonization pillar, weaving it into long-term climate initiatives. These policy-level signals of acceptance, coupled with international collaborations, ensure that pink hydrogen is poised to become a core part of tomorrow's clean energy matrix. By systematically addressing cost, technology scale-up, and regulatory backing, the global community is steadily forging a path where nuclear-driven hydrogen stands as a reliable ally in the journey to net-zero emissions. Global Pink Hydrogen Market Major Players: Siemens Energy Linde Plc Air Products and Chemicals OKG Exelon Air Liquide Nel Other Prominent Players Key Segmentation: By Production Process PEM Electrolysis (Polymer Electrolyte Membrane) Alkaline Electrolysis Solid Oxide Electrolysis By Form Gas Liquid By End-User Refinery Ammonia Production Steel Production Transportation Others By Region North America Europe Asia Pacific Middle East & Africa South America Contact our analyst for an online presentation @ About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. 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