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Urenco CEO addresses the NEA on advanced fuels
25 April 2024 Global NewsUrenco’s CEO has emphasised the importance of a strong advanced fuels market to supply the reactors of tomorrow.
Boris Schucht told the governments of 33 OECD member countries in Paris on April 19 that the “chicken and egg” problem of the nascent market could be resolved, and after this sustaining the market was key.
Boris was speaking as part of a Fuel Suppliers Panel at the Nuclear Energy Agency (NEA) policy briefing on the challenges to nuclear fuel supply, including high-assay low-enriched uranium (HALEU, enriched between 10% and 19.75%).
Urenco supports governments to kick-start the fuel market, and positive developments have taken place in the UK and the US: the UK is launching a first-of-a-kind HALEU programme and the US has issued a Request for Proposals (RFP) with the aim of establishing a domestic HALEU fuel supply.
However, longer-term the market needs to become responsible for investments itself, avoiding a situation where volumes of subsidies could create market distortion and commercial momentum is therefore not facilitated.
Boris also highlighted the large discrepancy between political ambitions for advanced reactors – as a way to contribute to the net zero drive – and the reality of delivery, where publicly declared projects were not yet at that level.
The fuel cycle can adapt to different scenarios of demand, and ideally current projections for HALEU would become more closely aligned to provide clearer guidance for the industry so it knows what to deliver.
Urenco’s Chief Commercial Officer, Laurent Odeh, also spoke at a separate NEA session on the importance of securing the international supply chain for nuclear fuel.
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About Urenco
Urenco is an international supplier of uranium enrichment services, fuel cycle products and related solutions with sustainability at the core of our business. Operating in a pivotal area of the nuclear fuel supply chain for over 50 years, Urenco understands the importance of energy security and facilitates the reliable delivery of low carbon electricity generation for consumers around the world.
With its head office in London, UK, Urenco’s global presence ensures diversity and security of supply for customers through enrichment facilities in Germany, the Netherlands, the UK and the USA. Through our technology and the expertise of our people, the Urenco Group provides safe, cost effective and reliable services, operating within a framework of high environmental, social and governance standards, complementing international safeguards.
Urenco is making a positive contribution to global climate change goals through our core business and we are committed to achieving net zero carbon emissions by 2040.
We are committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and nurturing the next generation of scientists and engineers.
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