CASPER, Wyo. and BELLEVUE, Wash., Nov. 30, 2023 /PRNewswire/ – TerraPower and Uranium Energy Corp (NYSE American: UEC) have signed a memorandum of understanding (MOU) with the aim of reestablishing domestic supply chains of uranium fuel. This collaboration will pave the way for the exploration of potential uranium supply for TerraPower’s groundbreaking Natrium™ reactor and energy storage system, which is being constructed in Kemmerer, Wyoming.
The Natrium demonstration project, set to become a commercial-scale plant upon completion, is expected to commence operations within the next decade. This project symbolizes a significant milestone in the advancement of clean energy solutions and will contribute to the U.S. economy by generating carbon-free power and creating high-paying jobs.
The growth of Small Modular Reactors (SMRs) and Advanced Reactors (ARs) in the United States necessitates a secure, domestic fuel supply chain. Uranium Energy Corp’s vast uranium resources in Wyoming position them as a reliable source of uranium, specifically for American High Assay Low Enriched Uranium (HALEU) requirements and the Natrium reactor developed by TerraPower.
Wyoming’s Governor Mark Gordon highlights the significance of this collaboration, emphasizing the importance of a fully domestic fuel source to decrease reliance on Russian uranium and enrichment technology. The MOU demonstrates TerraPower’s commitment to establishing a robust nuclear future in Wyoming by selecting the state as a partner for their pioneering Natrium reactor.
TerraPower President and CEO, Chris Levesque, emphasizes the need for a strong domestic supply chain for nuclear fuel as they introduce the next generation of nuclear energy. Levesque commends Wyoming’s leadership in uranium mining and expresses enthusiasm about the potential collaboration with Uranium Energy Corp to fuel their first reactor.
Amir Adnani, President, and CEO of Uranium Energy Corp, acknowledges the increasing demand for uranium from SMRs and ARs and welcomes the opportunity to work with TerraPower in providing the necessary uranium for the Wyoming Natrium reactor. UEC’s vision is to be the leading provider of conflict-free, American uranium for both existing and future reactors.
The Natrium technology is a pioneering 345-megawatt sodium-cooled fast reactor integrated with a molten salt-based energy storage system. This combination allows the Natrium reactor to provide clean, baseload energy while also accommodating variable power needs and boosting power output to meet peak demand. With its ability to integrate seamlessly with renewable resources, the Natrium reactor offers stability to energy grids with high penetrations of renewables.
In conclusion, the collaboration between TerraPower and Uranium Energy Corp sets the stage for the reestablishment of a reliable domestic supply chain of uranium fuel for advanced reactors. This partnership will contribute to the growth of clean energy solutions, strengthen the U.S. economy, and reduce dependence on foreign sources of uranium.
1. What is the Natrium reactor?
The Natrium reactor is a groundbreaking sodium-cooled fast reactor integrated with a molten salt-based energy storage system. It is designed to provide 24/7 carbon-free power and has the capability to boost power output to meet peak demand.
2. Why is a domestic fuel supply chain important for advanced reactors?
Advanced reactors, such as Small Modular Reactors (SMRs) and Advanced Reactors (ARs), present the fastest growing segment of nuclear energy in the United States. To ensure the security and reliability of the fuel supply, a domestic fuel supply chain is essential.
3. What are the benefits of the collaboration between TerraPower and Uranium Energy Corp?
This collaboration will enable the exploration of uranium supply for TerraPower’s Natrium reactor and contribute to the reestablishment of a domestic supply chain of uranium fuel. It will support the growth of clean energy projects, create high-paying jobs, and strengthen the U.S. nuclear fuel supply chain for advanced reactors.
4. What are the advantages of the Natrium reactor?
The Natrium reactor provides clean, baseload energy and has the ability to seamlessly integrate with renewable resources. It offers stability to energy grids with high penetrations of renewables and can boost power output to meet peak demand.