Newcleo, the scaleup innovating in nuclear energy, has signed two agreements with JAVYS and VUJE, two of Slovakia’s leading nuclear companies, to support Newcleo’s model for the use of spent nuclear fuel as an energy source and the development of advanced modular lead-cooled fast reactor (LFR) technology.
The agreements were signed during the official visit to Italy of the President of the Slovak Republic, Peter Pellegrini, and the Slovak Minister of Economy, Denisa Saková, confirming the importance of research into new technologies and the development of nuclear energy in Slovakia and other European countries.
The first agreement with Jadrová vyraďovacia spoločnosť (JAVYS), the Slovak state company responsible for the management of spent nuclear fuel, sets out the terms for the creation of a joint venture called “Centre for development of spent nuclear fuel utilisation” (CVP), which will be responsible for the development and construction of a nuclear power plant based on advanced modular reactors with up to four LFR-AS-200 reactors at the Jaslovske Bohunice V1 site in the Slovak Republic, and for ensuring the development of a nuclear fuel supply chain, with the support of the French Government, with the ultimate aim of reprocessing and recycling spent nuclear fuel from the Slovak Republic and enabling long-term multiple use within a closed fuel cycle.
With JAVYS holding 51% and Newcleo 49% of the shares, the future joint venture will focus on developing a complete spent fuel reuse solution using Newcleo’s advanced LFR technology. This approach aims to transform existing spent nuclear fuel into a sustainable energy source using Newcleo’s planned fuel fabrication plant in France, while significantly reducing the volume of nuclear material for final disposal in a deep geological repository.
The second agreement with VUJE, a leading Slovakian nuclear engineering company, establishes a technical and commercial cooperation framework to support Newcleo’s development and implementation of LFR technology, primarily in Slovakia.
As part of the cooperation agreement, Newcleo intends to involve VUJE in the initial feasibility study work and subsequent activities carried out by the CVP.
The agreement also aims to utilise VUJE’s decades of experience in the construction and commissioning of nuclear power plants, positioning Slovakia’s nuclear expertise at the forefront of the deployment of the next generation of nuclear technologies globally.
Recently, the European Small Modular Reactor Industrial Alliance identified Newcleo’s technology as one of the most promising projects that could help EU countries secure future environmentally sustainable, stable and cost-effective energy sources.
Stefano Buono, founder and CEO of Newcleo (pictured), said in a statement: ‘This strong state level recognition of our reactor technology and our goal to close the nuclear fuel cycle demonstrates the role that small advanced modular reactors will play in securing Europe’s energy future, and sets an example that could be adopted in other European countries where the only alternative to spent fuel management would be costly long-term storage. The re-use of existing spent nuclear fuel also guarantees Europe hundreds of years of energy independence at competitive and stable prices, a necessary step to increase the competitiveness of the EU industry. With its 50 years of experience in the nuclear industry and existing nuclear infrastructure, Slovakia is a very important and strategic partner for us, especially in the development, testing and practical application of new technologies for advanced modular reactors. These agreements not only create opportunities for the Slovakian industry, but also represent a paradigm shift for the entire nuclear energy sector’.
Peter Gerhart, CEO of JAVYS, adds: ‘We believe that using spent nuclear fuel in advanced reactors, such as Newcleo’s LFR technology, is a much more sustainable and responsible solution than simply storing it in a deep geological repository. This approach not only reduces the environmental impact of nuclear waste, but also secures a valuable energy source for future generations.
Matej Korec, CEO of VUJE says: ‘VUJE has over 50 years of experience in nuclear engineering and is proud to contribute its vast experience in the field of fast nuclear reactor technology. This collaboration with newcleo combines our practical knowledge in the construction and commissioning of nuclear power plants with innovative LFR technology, positioning Slovakia at the forefront of advanced nuclear development. We see this as a significant opportunity to apply our capabilities to shaping the future of nuclear energy.’
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