This chimes with our corporate purpose: enriching the future with carbon free energy. Urenco's mission is to play an essential role in delivering the energy to succeed.
Nuclear power is integral to achieving an energy secure and low carbon future. Nuclear contributes to grid stability and reliability, and provides access to affordable energy, preventing millions of tonnes of CO2 being released into the atmosphere each year. Our role in the nuclear fuel cycle facilitates the production of clean and affordable energy. We are also exploring the development of advanced fuels.
We are fully supportive of nuclear's vital role in the production of hydrogen to meet climate targets and achieve a state of net zero. In September 2021, we published findings from an independent study we initiated with Aurora Energy Research to investigate the benefits of deploying both nuclear and renewables in hydrogen production. The results showed that to facilitate rapid decarbonisation and cut dependency on fossil fuels, both nuclear and renewables are needed for power and hydrogen production, and together, nuclear and renewables can provide the hydrogen volumes needed for net zero in 2050.