Enel bets on nuclear di fourth generation. The Italian energy multinational and the nuclear technology start-up New Cleo signed a cooperation agreement to explore collaborative opportunities in relation to Generation IV nuclear reactor projects. This technology aims to provide a safe and stable energy source and to significantly reduce the current volumes of radioactive waste by using it as fuel in reactors. But the news fails to support the title in Piazza Affari which lost 1,9% to 5,22 euros per share on a day dominated by sales, with the Ftse Mib reaching -4%.
Enel will provide its specialist skills by sharing the company's qualified personnel. Newcleo, on the other hand, has undertaken to ensure that the company led by Francesco Starace has an option as the first investor in the first nuclear plant that the Anglo-Italian start-up will build outside Italy.
The first step in Newcleo's roadmap will be the design and construction of a 30 MWe Mini LFR (Lead Fast Reactor), to be built in France by 2030, quickly followed by a 200 MWe commercial unit in UK. At the same time, the start-up will invest directly in a MOX (Mixed uranium/plutonium Oxide, produced from existing nuclear waste) manufacturing plant to fuel its reactors.
The comments of Starace (Enel) and Buono (Newcleo)
“Innovation is essential for the development of technologies capable of guaranteeing clean, reliable, accessible energy that is as independent as possible from geopolitical factors. For this reason, we continue to explore any area of the energy mix - said theCEO of Enel Francesco Starace -. This partnership with Newcleo is the latest example of our relentless search for the best companies to embark on our journey towards a clean future, and we look forward to accompanying Newcleo on its challenging and promising journey to deliver carbon neutral electricity safely, cost effectively and sustainable".
While Stephen Good, CEO of Newcleo underlined the foresight of the Italian multinational “in being one of the first energy companies to appreciate and support our sustainable strategy and its impact on our collective future. Fast Reactor technology is the necessary step in the nuclear industry to enable multiple recycling of already mined uranium and massive reduction of nuclear waste. Furthermore, the use of lead opens up the possibility of safer and more economical operation of the reactor”.
