- Oklo Clears Environmental Reviews at INL
- Westinghouse Signs Engineering Contract for AP1000 Reactors in Bulgaria
- Great British Nuclear Issues ‘Invitation To Negotiate’ To Four SMR Companies
- Texas A&M University Proposes Sites for Reactor Test Beds
- World Economic Forum Publishes Framework for Advanced Nuclear Power
- IAEA Highlights ‘Pressing Need’ For International Finance For Nuclear Plants
Oklo Clears Environmental Review for INL Micro Reactor
Oklo checked off a significant milestone in its path forward toward building a first of a kind micro reactor on a site at the Idaho National Laboratory. This was the environmental review processes of the Department of Energy (DOE) and the Idaho National Laboratory required for construction of the firm’s first micro reactor on the federal site. It is targeting its first deployment at INL in 2027.
Jacob DeWitte, CEO and Co-Founder of Oklo, said the approvals are a “pivotal step forward as we advance toward deploying the first commercial advanced fission plant.”
DeWitt added that, “With this process complete, we can begin site characterization.”
This announcement follows the recent final sign off on a Memorandum of Agreement with the DOE, which initiates site characterization activities. It also follows DOE’s approval of Oklo’s Conceptual Safety Design Report for its Aurora Fuel Fabrication Facility, which will recycle nuclear material at INL to fuel the Aurora powerhouse.
Oklo is developing next-generation fission powerhouses, starting with the Aurora micro reactor, which can produce 15 MW of electrical power, scalable to 50 MWe, and operate for 10 years or longer before refueling. Oklo’s fast reactors incorporate key safety features and can be fueled by recycled waste.
DeWitt noted that “Our business model of selling power directly to customers rather than power plants positions us to respond to a growing order book effectively and meet diverse energy needs across data centers, industrial processes, defense, and off-grid communities.”
Supply Chain Agreement
Last December Oklo named Siemens Energy as its preferred supplier in an MOU on advanced fission power plant deployments. Siemens Energy would become Oklo’s preferred supplier for steam turbines and generator technology for its Aurora powerhouse.
Siemens Energy would also provide consulting to support Oklo in related design work to optimize the integration of the power conversion systems (conventional island). This partnership will help develop the capability to scale of the Aurora powerhouse deployments for customers. The Aurora powerhouse is designed to offer power ratings of 15-50 MWe.
Multiple Project Sites
Oklo has three project sites. A site use permit for its first location was granted by the Department of Energy in 2019. The firm was awarded fuel for its first reactor from Idaho National Laboratory. Oklo is currently doing work with the Idaho National Laboratory to take the waste fuel from EBR-II and use it for the first Aurora Powerhouse.
Centrus HALEU Production
In August 2023 Oklo and Centrus Energy signed an MOU for fuel, components, and power procurement to support the deployment of advanced fission technologies in Piketon, OH. The parties intend to enter into one or more definitive agreements relating to the following collaborative activities addressed in the MOU:
- Oklo would purchase HALEU from the production facility Centrus is planning to build in Piketon, Ohio, which is licensed by the U.S. Nuclear Regulatory Commission (NRC) to produce HALEU.
- Centrus would purchase electricity from the Aurora powerhouses that Oklo is planning to build in Piketon. These two power plants are designed to power thousands of homes and businesses in addition to the HALEU production facility. The HALEU production plant is designed to be scaled up to support hundreds of reactors.
- Centrus would manufacture components for Oklo’s Aurora powerhouse at Centrus’ advanced manufacturing facility in Oak Ridge, Tennessee, as well as manufacturing capacity at the American Centrifuge Plant in Piketon, Ohio, where HALEU production will take place.
- Centrus and Oklo would work together to establish and license the capabilities necessary to deconvert HALEU from uranium hexafluoride to uranium metal and fabricate fuel assemblies for Oklo’s Aurora powerhouses.
Two Plants for Piketon, OH
In February 2024 Oklo announced the signing of a lands right agreement with the non-profit Southern Ohio Diversification Initiative (SODI) for land including options for the siting of two plants.
This agreement is an extension of Oklo and SODI’s announcement in May 2023, related to the deployment of two Aurora powerhouses. SODI is a nonprofit community improvement corporation and serves as the DOE-designated community reuse organization for the former Portsmouth Gaseous Diffusion Plant (PORTS) facility near Piketon, Ohio.
Subject to the terms and conditions of the land rights agreement and, in exchange for an upfront fee, which will be credited toward any purchase by Oklo under the land rights agreement, SODI has granted Oklo an option and right of first refusal to purchase land in Southern Ohio from SODI.
Oklo aims to build its second and third plants on land owned by SODI. The land will host two commercial 15 MWe Aurora powerhouses (30 MWe total) with opportunities to expand.
According to a company press statement, Oklo’s Aurora powerhouse reactor will cost around $70 million for the 15 MWe version, with levelized cost of electricity (LCOE) of somewhere between $80-$130/MWh, depending on use and location.
Other Pending Deals
Oklo formed a strategic partnership with Atomic Alchemy to produce medical isotopes from its recycling of spent fuel process for cancer treatment and diagnostic imaging.
Separately, it signed a non-binding letter of intent (LOI) with Wyoming Hyperscale to collaborate on a 20-year Power Purchase Agreement (PPA) to supply 100 MW to its data center expected to be located in Cheyenne, WY.
Also, Oklo signed a non-binding LOI to collaborate on another 20-year PPA with Diamondback Energy to supply power to its shale-oil operations in the Permian Basin Texas.
Funding Status
In May 2024 Oklo Inc. (NYSE:OKLO) began trading on the New York Stock Exchange (NYSE). This milestone follows the completion of its business combination with AltC Acquisition Corp. on 05/09/24.
Oklo has received $306 million in gross proceeds from the transaction before taking into account expenses associated with the transaction, which is expected to be used to execute Oklo’s business plan and fund the initial deployment of the company’s Aurora powerhouse. A key company focus is to develop and submit a license application to the NRC and to successfully complete that regulatory process.
Oklo announced its newly appointed board of directors comprised of industry leaders with Sam Altman serving as chairman of the board. Sam Altman, Chairman of Oklo since 2015 and former Chief Executive Officer of AltC, said, “There are huge growth opportunities ahead for the firm.”
NRC Licensing Update
Oklo is engaged with the NRC in pre-application activities interactions for the Oklo Aurora Powerhouse reactor. The proposed Oklo reactors are liquid metal-cooled, metal-fueled fast reactors with an initial power level of 15 MWe. Oklo has promoted the design as being scalable to 50 MWe.
Oklo submitted its latest regulatory engagement plan with the NRC in 3Q2023. However, the firm requested that the details of the plan be restricted from public view due to the proprietary nature of some of the information in it. The NRC’s web pages for the pre-application activity and docket are current as of October 2024.
The NRC has not indicated on its web site a calendar of milestones leading to a date for a license application from the firm which is expected under the agency’s Part 52 licensing regulations. These regulations are applicable to early site permits, design certifications, combined licenses, design approvals, or manufacturing licenses.
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Westinghouse Signs Engineering Contract for AP1000 Reactors in Bulgaria
Westinghouse Electric Company, Hyundai Engineering & Construction Co. and Bulgaria’s Kozloduy NPP – New Build EAD have signed the Engineering Services Contract for two AP1000 reactors to be built at the Kozloduy site.
The contract scope includes site planning for two Westinghouse AP1000 units. In addition, the contract provides support for Kozloduy NPP – New Build EAD to begin licensing and permitting, while providing critical project planning and operations & maintenance development. The work outlined in the 12-month contract will begin immediately.
Bulgaria’s first AP1000 nuclear reactor is anticipated to achieve commercial operation in 2035. Westinghouse has already signed Memoranda of Understanding with 22 Bulgarian suppliers to support the project. The two-unit Kozloduy project will also provide Bulgarian firms opportunities to support the construction of other AP1000 units globally.
Former minister of energy Rumen Radev has said Bulgaria would like the cost of the two-unit project to not exceed $14 billion (€12.9bn). He added that the idea is to implement the project entirely on public funds with up to 25–30% percent self-financing. The rest is to be loan-financed for part of which Bulgarian State guarantees will be furnished. Minister Radev, has said that the electricity from the new Kozloduy reactors will cost €65/MWh.
According to trade press reports in March 2024, questions were raised about the economic basis for the project. Valentin Kolev, energy analyst and member of the American Association of Energy Engineers, told Euractiv:
“It will be very difficult to find banks to finance the project. If we assume that we will produce 15 terawatt-hours per year, in 20 years of operation, it makes 300 terawatt-hours. At a price of €17.6 billion for the two reactors, a price of close to €60/MWh [megawatt-hour] would result, but this is only the investment. Fuel costs and much more are not included. The price for power cannot be below €100–125.”
He added that cost overruns could push the completed cost of the twin reactors well past the estimated price of €17.6 billion which is €3.6 billion more than the estimate from the number from the energy minsitry. However, of the hypothetical price of $6,500/Kw, a global benchmark, is used, the price of the two reactors, at €14.95 billion comes out much closer to the Energy Ministry’s number.
At the signing ceremony Bulgarian Prime Minister Dimitar Glavchev, Bulgarian Minister of Energy Vladimir Malinov, U.S. Ambassador to Bulgaria Kenneth Merten, Executive Director of Kozloduy NPP – New Build Petyo Ivanov, Senior Vice President of Westinghouse Energy Systems Elias Gedeon, and Hyundai Engineering & Construction President and CEO Yoon Young-Joon attended the signing ceremony in Sofia.
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Great British Nuclear Issues ‘Invitation To Negotiate’ To Four SMR Companies
- A final decision on potential technologies is expected in spring 2025
(NucNet contributed to this report) Great British Nuclear (GBN) has issued an “invitation to negotiate” to the four companies that were chosen for the shortlist of the UK government’s small modular reactor (SMR) selection process.
GBN, the public body set up to drive the delivery of new nuclear energy projects in the UK, said that after these negotiations are concluded, the companies will be invited to submit final tenders, which GBN will then evaluate.
A final decision on which technologies to select will be taken in the spring 2025. GBN has not indicated how much government funding for the first-of-a-kind (FOAK) SMR will be provided or whether it will commit to funding SMRs in “fleet mode” once the FOAK is in revenue service.
Given that none of the four contenders have completed the UK Office of Nuclear Regulation Generic Design Assessment process to license their designs, a timeline for any of the SMR to complete all key milestones and attain being in revenue service extends at least to the end of this decade or into the early 2030s.
For instance, the Generic Design Assessment (GDA) for Rolls-Royce’s Small Modular Reactor (SMR) began in 2022 and is projected to span approximately 53 months, aiming for completion in 2026. In a flurry of marketing promises, Rolls-Royce earlier had projected a two-year turnaround. The British bureaucracy won. Construction of the first unit could take three-to-four years.
The good news for Rolls-Royce and its customers is that the firm is planning to build a fleet of 16 of its 470 MWe PWRs which means it is possible the units 5-16 will benefit from factory production economies of scale, a mature supply chain, and experienced workforce.
The other three contenders will have timelines that complete with reactors in revenue service at later dates. Assuming the UK government doesn’t put all its eggs in one basket, at least one more and possibly two of the remaining contenders could create SMR fleets based on their designs.
Current Contenders
The four companies in the process are GE Hitachi Nuclear Energy International, Holtec Britain Ltd, Rolls Royce SMR Ltd and Westinghouse Electric Company UK.
The two companies that were on an initial list of six, but were not included in the list of four, were EDF and US-based NuScale Power.
French state-owned utility and nuclear operator EDF said in July that it had pulled out of the competition after deciding to shift away from its indigenous Nuward technology to a design based on proven light water reactor technology.
The UK government gave no reason for NuScale’s failure to make the list of four. In November 2023, NuScale cancelled its first SMR project, in the US, as costs increased due to inflation.
UK Nuclear Industry Calls For No More Delays
Tom Greatrex, chief executive of the London-based Nuclear Industry Association, said that while it is good to see the UK SMR competition reach this stage, what is critical is reaching a decision as soon as possible without any further delays to the now published timeline.
“Confidence in the UK government’s pronouncements on support for SMRs rests on fulfilling commitments made today. It is vital for supply chain confidence as well as driving the wider nuclear ambition.”
Greatrex’s comments reflect the deep frustration the nuclear industry has with the UK government which has repeatedly dithered and delayed its investments decisions in SMRs since first entertaining the concept of SMRs in 2015.
Greatrex called for the government to empower GBN to buy more sites, starting with Heysham, so “we can deliver a fleet of SMRs for clean, reliable, British power and good, skilled jobs.”
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Texas A&M University Proposes Sites for Reactor Test Beds
Up to now several SMR and microreactor developers have set their sights on building their test prototypes and first of a kind (FOAK) plants at the Department of Energy’s Idaho National Laboratory.
A new opportunity for siting and construction next generation nuclear reactors may become available. This is due to an action by the Texas A&M University System Board of Regents.
It notified the Nuclear Regulatory Commission (NRC) it has potential sites available at Texas A&M-RELLIS in Bryan, TX, for multiple companies to test and construct the next generation of nuclear reactors. The “test bed” is expected to lead to energy advancements that could provide power to data centers for artificial intelligence and other power-hungry ventures.
The type of reactors that could be tested at Texas A&M-RELLIS are often labeled as “small modular reactors,” or SMRs. They have a footprint that is much smaller than the size of a traditional reactor, and they can produce up to 300MWe per unit, compared with more than 1,000MWe per unit with traditional reactors.
Clarity Needed on Roles, Responsibilities, and Costs of Licensing
In its press statement, Texas A&M said the submission of the letter of intent to the NRC “marks the beginning of a licensing process for the A&M System. Reactor companies will benefit from the A&M System taking on the licensing burden. The result will be a shorter path to getting their reactors up and running.”
It isn’t clear from the press statement what that means as licensing an SMR or a microreactor is an expensive and time consuming undertaking even with recent legislation mandating quicker turnaround times for the process. If the reactors built at the test bed at A&M are expected to eventually produce power, they would have to be licensed under NRC’s Part 52 regulations. The NRC is still at the front end of developing regulations for licensing advanced reactors, the so-called “Part 53 regulations.”
Even just the process of site characterization, e.g., readiness to host an advanced reactor test prototype, would require the NRC’s approval possibly through the early site permit process (ESP). In 2022 the State of Kentucky looked into the idea of preparing generic early site permits as a way to encourage siting of one or more LWRs in the state. The timeline was up to five years and the cost in 2022 was approximately $75 million per ESP. The report concluded that as the State of Kentucky had no prior experience licensing a nuclear reactor, either through an ESP, Part 50, or Part 52, that the timeline would be longer and the costs would be higher.
Image: Kentucky State Government
Lining Up Client Firms for the Program
The Texas A&M press statement says the university recently concluded the process of gathering proposals from nuclear reactor companies that hope to construct reactors at Texas A&M-RELLIS. The university did not name any of the current contenders.
Negotiations related to these proposals are expected to begin soon. Also, there might be additional opportunities for organizations to take advantage of the A&M System’s site for nuclear reactor technology testing and the manufacturing of small modular reactors.
After negotiations are complete, the A&M System will announce which companies will conduct testing and other work at Texas A&M-RELLIS. A timeline for announcing awards was not proved by the university.
Texas Size Ambitions for the Program
John Sharp, chancellor of the Texas A&M System, said “no other entity in the U.S. is further along than the Texas A&M System to provide a location and human resources to get small, modular nuclear reactors online. The test bed for the reactors will support multiple reactors from various companies.”
Sharp also claimed that the Texas A&M System, along with Texas A&M University, is uniquely qualified to take on a venture as ambitious as building, testing and running nuclear reactors. The system’s flagship campus in College Station – just a few miles from the testbed – employs dozens of professors and researchers with nuclear expertise. Plus, Texas A&M University is home to the largest nuclear engineering department of any university in the country.
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World Economic Forum Publishes Framework for Advanced Nuclear Power
(WNN) The World Economic Forum (WEF) has released a framework to help align stakeholders on key actions and strategies to accelerate deployment of small modular reactors and other advanced nuclear technologies.
The report highlights nine priority areas and actions for accelerating the deployment of these technologies. ( full text PDF file )
Image: WEF
The World Economic Forum (WEF), in collaboration with Accenture, has partnered with stakeholders across the nuclear ecosystem – including experts from large energy-consuming industries, financiers, reactor vendors, supply chain businesses, utilities, government organizations, non-profits/NGOs and academia – to develop a Collaborative Framework for Accelerating Advanced Nuclear and Small Modular Reactor Deployment. It is intended to be a coordination tool for stakeholders to align on actions and strategies to accelerate advanced nuclear and SMR deployment.
“The Framework provides a basis for locally led implementation, as priorities will vary across geographies at various stages of nuclear development,” the report says. “It could also apply to other advanced clean energy technologies that require a systemic approach to unlock progress, such as geothermal and long-duration energy storage.”
“The ecosystem for new nuclear comprises a range of stakeholders including technology developers, financial institutions, utilities, large energy consumers and governments. Reaching commercial viability of advanced nuclear and SMRs is dependent on de-risking and improving the economics of projects through purposeful, coordinated action between these stakeholders – beyond anything seen before.”
Regarding the emergence of the advanced nuclear and SMR market, WEF says ecosystem collaboration must facilitate stronger demand signals to stimulate confidence among public and private investors by sharing risks and costs.
Deployment depends on energy policies that address specific challenges, such as improving supply chain stability and creating vehicles for strategic partnerships across ecosystem stakeholders. In addition, regulation needs to be modernised by aligning regulatory bodies to streamline licensing of standard design across countries.
In order to deliver advanced nuclear and SMRs at scale, project deployment must be transformed to enhance rapid delivery of cost-competitive projects through innovative deployment models, modular construction and design for manufacture and assembly, the report says.
Where possible, existing infrastructure should be repurposed and new reactors co-located with current energy systems.
The maturity and scalability of advanced nuclear and SMR technologies should be increased by collaborating with regulators and energy off-takers, as well as by standardizing design.
The nuclear supply chain should also be prepared for large-scale deployment by boosting investment, developing nuclear fuel sources and standardizing components.
Meanwhile, the workforce should be developed by identifying skills gaps, retraining workers from other energy industries, facilitating skills pools and partnerships between industry and educational institutions.
WEF says the financing of advanced nuclear and SMRs needs to be addressed by developing innovative financing mechanisms, leveraging public-private partnerships, reaching target cost levels to attract mainstream investments, and including nuclear in clean investment taxonomies.
The report said small modular reactors (SMRs) and other advanced nuclear technologies represent clean energy solutions that, when built at scale, could deliver cost-effective carbon-free energy. These technologies are well suited to meet many clean power, heat and clean fuel production use cases for heavy industry, data centers and transport,” the report says. “However, the commercial viability of these technologies needs to be improved.
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IAEA Highlights ‘Pressing Need’ For International Finance For Nuclear Plants
- As climate summit approaches in Azerbaijan, UN atomic agency calls for investment to ‘rapidly increase’
(NucNet) As more than 100 heads of state and government are expected to gather in Baku, the capital of Azerbaijan, for the Cop29 UN climate summit, the International Atomic Energy Agency is hoping that delegates will agree on the pressing need for increased climate finance, including for new nuclear power plants.
As the world grapples with the escalating impacts of climate change, IAEA director-general Rafael Grossi will join global leaders at Cop29 – formally known as the Conference of the Parties to the United Nations Framework Convention on Climate Change – to highlight what he called “the vast potential” of nuclear solutions for climate change mitigation, adaptation and monitoring.
The IAEA said a central theme of Cop29 will be the pressing need for increased climate finance.
A UN report released last month indicates that current policies and investments fall far short of what is needed to keep global temperature rise below 1.5°C in this century, the target of the Paris Agreement signed at Cop21 in 2016.
In its own report last month the IAEA said investment in nuclear power must rapidly increase to $125 billion (€115bn) a year by 2030 meet global climate targets.
The IAEA said it will showcase nuclear solutions for climate action in some 40 events at Cop29, which will take place from the 11th to 22nd of November. The agency’s Atoms4Climate pavilion will feature an exhibit on nuclear applications, with IAEA experts ready to answer questions about how nuclear energy contributes to net-zero emissions and how nuclear science can address climate-related challenges to food security, water resources and ocean health.
The agency wants Cop29 to build on the global consensus that emerged at Cop28 in Dubai, where 22 countries signed a pledge to triple nuclear generation capacity by 2050 from a base year of 2020. Also at Cop28, the agreed deal recognised the need to accelerate nuclear energy as a key approach for a deep, rapid and sustained reduction in greenhouse gas emissions.
Cop29 also follows on the first Nuclear Energy Summit, hosted in Brussels by the IAEA and the government of Belgium in March, where leaders from more than 30 countries reaffirmed their commitment to nuclear energy as a way to reduce carbon emissions and meet development goals.
“At Cop28, the world agreed nuclear power must be part of the transition to net zero,” said Grossi. “We know investment in nuclear power can lower grid costs and speed up the deployment of intermittent clean-energy sources like wind and solar.
“As the world moves from consensus to construction, the IAEA supports newcomer countries in establishing safe, secure, safeguarded and sustainable nuclear power programs.”
Grossi will co-host a high-level event with the US on small modular reactors (SMRs), which offer flexible, cost-effective options for powering small energy grids, making them suitable for developing countries, as well as energy-intensive industries, data centers and even commercial ships.
Governments Need To Play A Role
The IAEA wants governments to play a role in ensuring financing availability for nuclear power projects. This includes providing loan guarantees, subsidies, and regulatory support to attract private investors. Public-private partnerships are seen as a potential model for distributing financial risks while making nuclear energy projects more bankable.
Despite private investors having been “historically averse” to nuclear energy projects due to their specific risks, various financial instruments can help mitigate these risks and make nuclear ventures more appealing to private capital.
Government backing can also come though export credit agencies, with export credit having become increasingly important for all parties involved in nuclear energy projects, the IAEA said.
Innovative financing mechanisms, including green bonds and sustainable finance, could also be used to unlock the required capital. The inclusion of nuclear energy in sustainable investment taxonomies, such as in the European Union, is seen as a potential catalyst for drawing commercial banks into the sector.
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