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Atomic Insights

Atomic energy technology, politics, and perceptions from a nuclear energy insider who served as a US nuclear submarine engineer officer

New Nuclear

Nuclear energy growth prospects and secure uranium supplies

April 28, 2022 By Rod Adams Leave a Comment

Uranium Panel: Discussing a Uranium Bull Market, New Nuclear and Sentiment for a Decarbonized Future

The 121 Mining Investment event held in Las Vegas on March 30 and 31 included a panel discussion with leaders from three uranium mining companies, each of which has an asset base of potentially lucrative mining prospects mostly located in North America. The fourth member of the panel was a managing partner at Nucleation Capital, a venture capital fund focusing on opportunities in the advanced nuclear sector, including suppliers of key system components front end to back end.

The panel included a lively chat about the prospects for new nuclear power plants, life extensions for existing power plants – including some that had previously announced closures, the implications of HALEU requirements for advanced reactors and the potential for micro and small reactors to supply power to mining operations that are often located in remote, off-grid locations.

The panel included following participants:

Rod Adams, Managing Partner, Nucleation Capital; Jon Bey, CEO, Standard Uranium; Ross McElroy, CEO, Fission Uranium; Andrew Ferrier, Managing Director, Okapi Resources

Background: The 121 Group hosts a series of events designed to help growing companies, especially those focusing on raw material supply, meet with investors that are interested in the growth potential for those companies and the sectors they serve. Those conferences are called 121 Mining Investment events.

Aside: 121 is pronounced 1 to 1, not one twenty one. A key feature of the events is the opportunity for companies to schedule face to face meetings with interested investors. The booth set-up for the event in Las Vegas was different from any that I have seen before. The three walls of each booth were inflatables with a continuously running blower. They reminded me of the system used for bounce houses at birthday parties for kids. Sound isolation was impressively effective. End Aside.

Filed Under: 121 Mining Las Vegas 2022, Business of atomic energy, New Nuclear, Uranium mining

Atomic Show #296 – Julia Pyke, Director of Finance Sizewell C

March 12, 2022 By Rod Adams 35 Comments

Julia Pyke, Director of Finance, Sizewell C

Sizewell C is a project to build a 3,200 MWe power station consisting of two EPR units on the site that currently hosts a single large pressurized water reactor (Sizewell B). With the exception of site-specific foundations and structures, the new power station will be a copy of the station currently under construction at Hinkley Point C.

Like Hinkley Point C, Sizewell C will be capable of supplying approximately 7% of the UK’s annual electricity requirement. It will be able to run at full power for 90% (or more) of the hours in the year.

By following Hinkley Point, Sizewell will be a much less risky project. Trades have been trained, construction kinks have been worked out, supply chains have been created, managers have gained experience, and designs have been completed and tested. As a result of this “derisking” (using the lingo of project managers) Sizewell C will be a more affordable endeavor that should begin saving customers money from the time it first begins operating.

But that expectation is unlikely to be fulfilled if the project has to be financed in the same way as Hinkley Point C, where the long construction duration and the inability to recover financing costs during construction has resulted in a situation where 70% or more of the total project cost is paid out in interest and return on investor risk capital.

On this episode of the Atomic Show, Julia Pyke, the Director of Finance for the Sizewell C project, explains how the regulated asset base (RAB) model will enable Sizewell C to be economically financed and built.

In the weeks since we recorded this episode of the Atomic Show, Russia’s invasion of Ukraine has increased the importance of making it possible for Sizewell C participants to reach a final investment decision. Approval of the RAB model will be a major step forward in moving this project towards completion.

It is a shovel-ready project that will help fill growing vulnerabilities in the UK’s energy supply. It’s not a quick fix, but it will be a durable one.

Please participate in the discussion here. I hope you enjoy the show.

https://s3.amazonaws.com/AtomicShowFiles/atomic_20220225_296.mp3

Podcast: Play in new window | Download (Duration: 36:02 — 33.0MB)

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Filed Under: Business of atomic energy, International nuclear, Investing, New Nuclear, Podcast Tagged With: Atomic Show, clean energy policy, finance, Julia Pyke, nuclear finance, Sizewell C, United Kingdom

The Assay TV speaks with Rod Adams, Managing Partner of Nucleation Capital and Atomic Insights host

February 20, 2022 By Editor Leave a Comment

The Assay is a media project of the 121 Group, based in Hong Kong, that serves investors, fund managers and analysts who are involved with and/or investing in a wide range of mining ventures. As part of their efforts to bring a greater understanding of the complex markets that control the prospects of mining ventures, […]

Filed Under: Advanced Atomic Technologies, Atomic education, Atomic Entrepreneurs, New Nuclear, Nuclear Fuel Cycle, Nuclear Waste, Podcast, Pro Nuclear Video, Uranium mining Tagged With: 121 Group, Adam Thompson, The Assay, The Assay TV, uranium, uranium market

Catching Oklo — a rising star!

December 14, 2021 By Rod Adams 41 Comments

Update: On Jan 6, 2022, the NRC denied Oklo’s COA application “without prejudice.” Power published an article titled NRC Dismisses Application for Oklo Advanced Nuclear Reactor that provides a solid early summary of the action and its implications. A new generation of clean energy is on the horizon Oklo is a clean energy company that […]

Filed Under: Advanced Atomic Technologies, Investing, Liquid Metal Cooled Reactors, Micro Reactors, New Nuclear, Small Nuclear Power Plants

What makes smaller nuclear power systems so exciting?

September 21, 2021 By Rod Adams 27 Comments

Let me start by dispelling the notion that I think smaller, modular, manufactured nuclear power systems – often called SMRs or micro reactors – are the be all and end all solution to anything, including climate change or energy security. Though not THE solution, they have the potential to be a crucial, uniquely capable part […]

Filed Under: Advanced Atomic Technologies, Business of atomic energy, Clean Energy, decarbonization, Economics, Investing, New Nuclear, Small Nuclear Power Plants, Smaller reactors

China’s high temperature reactor – pebble bed modular (HTR-PM) achieves its first criticality

September 14, 2021 By Rod Adams 34 Comments

On the morning of September 12, 2021, reactor number 1 of the eagerly awaited HTR-PM project was taken critical for the first time. Initial criticality for any new reactor is a big deal for the people involved in the project; this one is a big deal for the future of nuclear energy. It might also […]

Filed Under: Advanced Atomic Technologies, Atomic history, Business of atomic energy, Gas Cooled Reactors, Graphite Moderated Reactors, International nuclear, New Nuclear, Pebble Bed Reactors, Small Nuclear Power Plants, Smaller reactors

A Path from Coal to Nuclear is Being Blazed in Wyoming

August 12, 2021 By Valerie Gardner 37 Comments

Many of those who care about finding solutions to the physical distress that our climate is experiencing, as reported on this week in a landmark 1,300 page report by the IPCC‘s Sixth Assessment Working Group 1 (Climate Change 2021: The Physical Science Basis), are not looking at Wyoming. But based upon the announcement made in […]

Filed Under: Advanced Atomic Technologies, Another Blogger for Nuclear Energy, Atomic Entrepreneurs, Atomic history, Atomic politics, Clean Energy, Climate change, Coal, decarbonization, Fossil fuel cooperation, Innovation, New Nuclear, Pro Nuclear Video, Smaller reactors Tagged With: Bill Gates, Gary Hoogeveen, GE Hitachi, Governor Mark Gordon, IPCC, Jennifer Graholm, physical sciences basis, Senator John Barrasso, TerraPower, Wyoming

Nucleating our carbon-managed future

April 22, 2021 By Valerie Gardner 104 Comments

If you’ve studied chemistry, you’ll know that the nucleation point describes the start of a change in physical state, such as from a solid to a liquid, or liquid to gas. Water starting to crystallize into ice nucleates where the first H2O molecules reorganize as a solid. We’re seeing a similar transformation of human society—forced […]

Filed Under: Aging nuclear, Atomic Advocacy, Clean Energy, Climate change, decarbonization, Environmentalists for Nuclear Energy, Fossil fuel competition, Grid resilience, Innovation, Investing, New Nuclear, Pro Nuclear Video, Venture Capital Tagged With: CCUS, nuclear investment, Nucleation Capital

Change is in the wind: Commencing a new phase as a Venture Capitalist

February 3, 2021 By Rod Adams 11 Comments

Atomic energy is a tool that is capable of helping address some of humanity’s most wicked challenges. Clean, abundant, reliable and affordable power makes everything we do a little easier and is becoming increasing urgent in the era of climate change. Unfortunately, atomic energy is a long way from reaching its potential or even achieving […]

Filed Under: Advanced Atomic Technologies, Atomic Entrepreneurs, Clean Energy, Climate change, decarbonization, Environmentalists for Nuclear Energy, Investing, New Nuclear, Venture Capital

Atomic Show #289 – All Reactors Large and Small

January 29, 2021 By Rod Adams 16 Comments

Pro-nuclear advocates generally agree that there is a large and growing need for new nuclear power plants to meet energy demands with less impact on the planet and its atmosphere. There is frequent, sometimes passionate discussion about the most appropriate reactor sizes, technologies and specific uses. Atomic Show #289 is a lively discussion among some […]

Filed Under: Atomic politics, Economics, New Nuclear, Podcast

Atomic Show #287 – Darren Gale, VP Commercial Operations, X-Energy talks about Xe-100

November 12, 2020 By Rod Adams 2 Comments

X-Energy is the lead recipient for one of two industry groups selected to receive $80 M in Department of Energy (DOE) funding as part of a public-private partnership program to demonstrate advanced nuclear power plants on an aggressive time table. Its primary partner in the endeavor is Energy Northwest, which currently owns and operates the […]

Filed Under: Advanced Atomic Technologies, Gas Cooled Reactors, Graphite Moderated Reactors, New Nuclear, Pebble Bed Reactors, Podcast, Small Nuclear Power Plants

Atomic Show #285 – MMR at Illinois

November 3, 2020 By Rod Adams 6 Comments

The University of Illinois at Urbana-Champaign has a stretch goal of completing its next research and test reactor by the end of 2025. It has assembled a team that includes several other major universities, national labs, and industrial partners. It has selected the MMRTM, a product that is being developed by USNC (Ultra Safe Nuclear […]

Filed Under: Advanced Atomic Technologies, Atomic education, New Nuclear, Podcast

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