Nuclear Strategy: Reactor Resurgence - November 2023

NUCLEAR RENAISSANCE

OCTOBER 2023 ISSUE

Navigating the Future of Nuclear Energy

The only reliable Low Carbon technology available for baseload electricity?

| Uk Bets Nuclear | Sellafield Latest | SMRs | | NuclearNow Review | Uranium Investment Thesis |

| EU | China | Westinghouse | | Rolls Royce | Popular culture |

NOVEMBER 2023 ISSUE

REACTOR RESURGENCE:

Contents Page 3

Great British Nuclear to deliver opening speech in Manchester

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UK’s Nuclear Workforce Soars to New Heights in 2023

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Fueling the Future: Rolls-Royce SMR and Westinghouse Join Forces

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EU Reaches Milestone Accord on Nuclear Power in Electricity Market Reform

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China’s Ambitious Nuclear Expansion: Plans for Six to Eight New Units Annually

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The Winds of Change: Nuclear Energy Finds New Favor in Pop Culture

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Nuclear Strategy Summit

Great British Nuclear to Deliver the Opening Speech at Manchester’s Nuclear Strategy Event.

Manchester, UK — October 28, 2023 In a groundbreaking announcement, the prestigious Bridgewater Hall in Manchester is gearing up to host a remarkable event that will set the stage for the future of nuclear strategy.

On May 8, 2024, all eyes will be on this iconic venue as it plays host to the foremost event in the field of nuclear strategy, featuring an opening speech from Great British Nuclear.

figures in the nuclear industry.

This event arrives at a pivotal time for the UK as it pursues ambitious goals in nuclear energy generation, aiming to achieve 24GW of nuclear power by 2050. Great British Nuclears’ opening speech will set the stage for the nation’s nuclear strategy, showcasing the dedication to a cleaner, more sustainable energy future.

This gathering is set to bring together experts, industry leaders, policymakers, and innovators in the field of nuclear energy. Attendees can anticipate a thought-provoking address that will encompass the latest developments in nuclear technology, the future of clean energy, and the role the UK plays on the global stage. It will undoubtedly set the tone for the discussions and initiatives that will unfold during this significant event.

Securing Your Spot

The Nuclear Strategy Event in Manchester on May 8, 2024, will not only serve as a platform to discuss the current state of nuclear strategy but will also provide a glimpse into the future.

Attendees can expect to engage in meaningful dialogues, gain insights into cutting-edge innovations, and network with prominent

For those passionate about the future of nuclear energy, this event is a must-attend. The Bridgewater Hall in Manchester will provide an exquisite backdrop for this momentous occasion. It’s an opportunity to be a part of the discussion that shapes the future of the UK’s energy landscape.

Stay tuned for further details about the Nuclear Strategy Event, including ticket information and additional speakers. Mark your calendars for May 8, 2024, and be prepared to be inspired and informed by the visionary ideas and strategies that will emerge from this historic event. For more information please email: hello@nuclearstrategy.earth 3

UK’s Nuclear Workforce Soars to New Heights in 2023 The Nuclear Industry Association (NIA) reports a monumental upswing in employment within the UK’s nuclear sector, reaching levels not seen in over two decades. The annual Jobs Map released by NIA paints an encouraging picture, with a staggering 77,413 individuals now employed across the country—an impressive 20% surge in just one year.

Undoubtedly, this surge in employment is a testament to the sector’s resurgence.

The UK’s nuclear industry is experiencing an unprecedented boom, driven by advancements in advanced nuclear technology. This surge has been led by none other than Rolls-Royce, which has spearheaded the development of its Small Modular Reactor (SMR) in Derby and Warrington.

Rolls-Royce’s ambitious foray into Small Modular Reactors has been nothing short of revolutionary. Over 530 positions have been established, a remarkable 200 of which were created within the past year alone. With the potential for the deployment of Rolls-Royce SMRs to generate an additional 6,000 jobs, the impact of this innovation cannot be overstated.

Hinkley Point C in Somerset has emerged as a significant contributor to this surge, employing a staggering 9,500 individuals, up from 8,000 in the preceding year. Notably, it stands as Europe’s largest construction site and exemplifies the scale of projects currently underway in the UK’s nuclear sector.

While the industry celebrates its remarkable growth, the NIA issues a prudent warning. To meet the government’s ambitious target of achieving 24GW of nuclear power by 2050, a substantial investment in training and development is imperative. The demand for skilled workers is set to rise, and concerted

efforts will be required to ensure the workforce is adequately prepared for the challenges ahead.

Minister for Nuclear, Andrew Bowie, emphatically asserts that the UK is in the midst of a nuclear renaissance. From the government’s resolute support for projects like Hinkley and Sizewell to the launch of Great British Nuclear, the nation is witnessing a transformative period in its energy landscape.

These ventures not only promise cleaner, more reliable energy sources, but also fortify national security, reduce carbon emissions, and stimulate economic growth.

Tom Greatrex, Chief Executive of the NIA, echoes this sentiment, emphasizing the crucial role the nuclear industry plays in ensuring UK energy security and propelling the country towards a net-zero future. He underscores the potential for even more high-skilled, well-compensated jobs, provided there is a steadfast commitment to new projects, encompassing reactors of varying sizes, to guarantee a more secure, reliable, and homegrown power supply.

The UK’s nuclear industry has set an impressive benchmark with its meteoric rise in employment. As the sector hurtles towards a future defined by cleaner energy and technological innovation, it is imperative that strategic investments in training and development be made to realize the government’s ambitious targets. With continued dedication to new projects and pioneering technologies, the UK’s nuclear industry is poised to not only meet the energy demands of tomorrow, but also to generate thousands of new, high-quality jobs for generations to come.

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Fueling the Future: Rolls-Royce SMR and Westinghouse Join Forces

In a significant stride towards progress, Derbybased Rolls-Royce SMR has recently inked a pivotal contract with Westinghouse Electric Company UK Ltd. The collaboration is set to focus on the development of a fuel design for Rolls-Royce’s small modular reactor (SMR), a crucial component of the ongoing Generic Design Assessment (GDA) process overseen by the UK’s independent regulatory bodies.

significance of this milestone, stating, “Placing the contract to design the fuel for the Rolls-Royce SMR is an important step in our programme of work as we progress through the GDA process with the UK’s nuclear regulators.”

The collaborative design effort, to be conducted on both sides of the Atlantic, encompasses associated core components and will draw upon the foundation of an existing Westinghouse pressurized water reactor (PWR) fuel assembly design.

She further emphasized the choice of Westinghouse, a company with a distinguished legacy and unparalleled expertise in nuclear fuel design and manufacturing. Perry affirmed, “Placing this contract with Westinghouse will help deliver our commitment to maximise UK supply chain content and will support a long-term sustainable future for the nuclear industry.”

Helena Perry, Rolls-Royce SMR’s Regulatory Affairs and Safety Director, expressed the

The contract aligns seamlessly with the recent Atlantic Declaration and civil nuclear

partnership established between the UK and US governments. This collaborative initiative aims to facilitate the safe, secure, and sustainable global deployment of advanced, peaceful nuclear technologies, including small modular reactors.

Tarik Choho, Westinghouse President of Nuclear Fuel, hailed the partnership, stating, “This collaboration between Westinghouse and Rolls-Royce SMR will help drive the future of nuclear fuel deployment. Westinghouse is proud to bring its generations of experience designing and manufacturing fuel in the UK. This contract presents an exciting opportunity for our Springfields site in Lancashire.”

Rolls-Royce SMR, fortified by grant funding from UKRI, has marshaled a workforce of

over 600 UK-based professionals dedicated to the project. Their collective effort is directed towards the development of a unique ‘factory-built’ power plant. Each unit is poised to generate an abundance of low-carbon electricity, with the capacity to power over a million homes for a span exceeding six decades.

As Rolls-Royce SMR and Westinghouse forge ahead with this collaborative endeavor, the landscape of nuclear energy innovation stands poised for transformative progress.

The convergence of expertise from both sides of the Atlantic promises a future where advanced nuclear technologies play a pivotal role in a sustainable and secure global energy landscape.

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EU Reaches Milestone Accord on Nuclear Power in Electricity Market Reform In a pivotal development, the European Union (EU) Energy Council has achieved consensus on an overhaul of the EU electricity market during their meeting in Luxembourg. This agreement resolves the protracted dispute between France and Germany concerning the role of nuclear power in the region.

agreement in securing funding for future nuclear power capacity and extending the lifespan of existing plants.

France welcomes the decision to incorporate nuclear power into future state-supported models, emphasizing its importance in the nation’s energy mix. Germany, however, remains vigilant against any potential unfair competition arising from public funding for aging reactors abroad.

The proposal is now set to advance to the European Parliament, where discussions on nuclear and coal power concessions may encounter opposition.

The EU’s 27 member states remain divided on this issue. Central and eastern European nations, with their own nuclear expansion goals, align with France’s stance. Meanwhile, non-nuclear countries including Belgium, Denmark, Luxembourg, and Austria support Germany’s position.

Germany’s Energy Minister, Robert Habeck, emphasizes the accord’s demonstration of Europe’s ability to address critical issues and provide accessible, affordable electricity for households and industry. He highlights the benefits of low production costs from nonfossil energy sources, which consumers can now enjoy.

After extensive deliberations on power market reforms, the EU Energy Council has agreed to safeguard electricity prices from volatile fossil fuel cost fluctuations, particularly in natural gas. Additionally, a compromise on the role of nuclear power has been reached.

The agreement represents a crucial step forward in stabilizing electricity costs and ensuring the viability of various energy sources.

It addresses the shortcomings of the current system, which was evident during the 2022 energy crisis.

France’s Energy Minister, Agnes PannierRunacher, lauds the reform as a means to ensure that European customers pay the average production price for electricity, shielding them from the impact of price fluctuations in fossil fuel markets. She underscores the significance of the

This landmark reform signifies a shift towards more sustainable energy practices and greater support for clean energy sources. As negotiations continue with the European Parliament, further refinements to the agreement may be proposed, reflecting the dynamic nature of energy policy in the EU.

In a recent update from the China Nuclear Energy Association (CNEA), it has been revealed that China is poised to give the green light for the construction of six to eight new nuclear power units each year in the foreseeable future. This move is part of China’s broader strategy to bolster its nuclear energy sector, aligning with its emphasis on renewables and enhancing domestic energy security.

The CNEA envisions nuclear power contributing approximately 10 percent of the country’s power generation by 2035 and a substantial 18 percent by 2060. This ambitious endeavor is set to culminate in a total generation capacity of 400 gigawatts (GW) by 2060, as outlined by the association.

While China has made significant strides in expanding its capacity in renewable energy sources like wind and solar, it has encountered challenges in meeting its targets for nuclear power. Although Beijing had set a goal of achieving 58GW of installed nuclear capacity by 2020, the nation is currently just shy of this target, boasting a combined installed capacity of 57GW as of September 2023. Moreover, there are 24 units currently under construction with a collective installed capacity of 27.8GW, according to data from the CNEA.

China’s Ambitious Nuclear Expansion: Plans for Six to Eight New Units Annually

Nuclear power generation boasts a notably smaller carbon footprint compared to fossil fuel-based power plants. Furthermore, it offers a more dependable and consistent power supply compared to weather-dependent renewable sources like wind and solar.

August of this year saw authorities granting approval for an additional six nuclear power units to be constructed at three different plants. This development followed the approval of ten nuclear power projects in the preceding year, marking a significant stride towards achieving China’s nuclear energy aspirations.

These initiatives underscore China’s steadfast commitment to diversifying its energy portfolio and reducing its carbon emissions footprint.

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The Winds of Change: Nuclear Energy Finds New Favor in Pop Culture

In the grand narrative of popular culture, nuclear energy has often played the role of a silent antagonist—a source of fear, anxiety, and apocalyptic visions. However, in recent times, a notable shift has taken place. The portrayal of nuclear energy is evolving, with a more positive and informed perspective emerging in the limelight.

Historical Fears and Modern Realities: For decades, nuclear energy carried the heavy baggage of historical events like the Hiroshima and Nagasaki bombings during World War II and the Chernobyl disaster in 1986. These incidents, though impactful, painted a gloomy picture of nuclear technology. The specter of radiation, meltdowns, and the lurking Cold War threat had cemented a negative view of nuclear power in the collective imagination.

Oliver Stone’s “Nuclear Now” Documentary: Enter Oliver Stone, a filmmaker known for his thought-provoking and controversial works. In his recent documentary, “Nuclear Now,” Stone takes on the challenge of reexamining nuclear energy’s role in our world. Through insightful interviews and compelling storytelling, he sheds light on the potential benefits and advancements in nuclear technology. This documentary is a turning point, encouraging audiences to rethink their perceptions and consider nuclear power as a viable solution to climate change and energy security.

U2’s Positive Stance: The influence of popular bands and musicians is undeniable. The iconic rock band U2, with a massive global following, has shifted its stance on nuclear energy. They have become vocal advocates for cleaner energy sources and recognize the importance of nuclear power in the fight against climate

change. Their influence extends far beyond the stage, as their positive stance on nuclear energy resonates with millions of fans.

Jimmy Carr’s Conversations with Joe Rogan: Comedian Jimmy Carr, a household name in the world of stand-up comedy, recently made an appearance on the Joe Rogan Experience podcast. In this candid conversation, Carr delved into the merits of nuclear energy. He highlighted the low carbon footprint and consistent energy output offered by nuclear power plants. The fact that this discussion took place on a platform as influential as the Joe Rogan Experience signifies a growing shift in the public discourse surrounding nuclear energy.

These instances of cultural icons and influential figures promoting a positive view of nuclear energy are signs of changing tides.

The ominous shadow of the past is gradually giving way to a more informed, pragmatic, and optimistic view of nuclear technology.

People are increasingly recognizing the role nuclear energy can play in reducing greenhouse gas emissions and ensuring a reliable energy supply.

As the world grapples with the challenges of climate change and the need for sustainable energy sources, nuclear power is repositioning itself as a crucial player. With filmmakers, musicians, and comedians leading the charge in shifting the narrative, we can anticipate more open discussions and a brighter future for nuclear energy in the public eye. The cultural shift is a positive sign that nuclear energy’s reputation is undergoing a muchneeded renaissance, ultimately contributing to a cleaner and more sustainable world.

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Nuclear Strategy Summit Nuclear Strategy Summit Enhancing the Nuclear Economy Bridgewater Hall, Manchester UK. 8th May 2024 At Nuclear Strategy, we wholeheartedly acknowledge the pivotal role that nuclear technology occupies in confronting global dilemmas such as climate change, energy security, and industrial progress. Through this event, our aim is to cultivate collaboration, ignite innovative thinking, and shape the trajectory of the nuclear industry.

With an electrifying program that encompasses an extensive array of subjects, we cordially invite you to delve into the most recent breakthroughs in cutting-edge reactor designs, pioneering fuel technologies, and emerging patterns in fusion research.

Acquire profound insights into policy structures, regulatory deliberations, and funding models that bolster the advancement of sophisticated nuclear technology.

• Policy and Guidelines for Advanced Nuclear Innovation • Economic Aspects and Capital in Advanced Nuclear Solutions • Establishing a Robust Advanced Nuclear Technology Supply Network • Ensuring Safety, Confidence, and Public Trust in Advanced Nuclear Innovations • Emerging Technological Breakthroughs in Nuclear Energy Advancements • Exploring Diverse Applications of Nuclear Technology Beyond Power Generation • Progressing Towards Sustainability: Implementing Advanced Nuclear Power • Advanced Nuclear Energy’s Role in Navigating the Energy Transition • Fostering diversity and addressing the skills gap

To join us or for speaking and exhibiting opportunities please click to register here or alternatively email hello@nuclearstratergy.earth

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