On April 25 (local time), the Korea Hydro & Nuclear Power (KHNP) company achieved a significant milestone in securing a stable nuclear fuel supply through a memorandum of understanding (MOU) with Centrus, a US uranium enrichment service provider.
This agreement was signed during the "Korea-US Advanced Industry Clean Energy Partnership" event held at the Waldorf Astoria Hotel in Washington DC, USA, which was hosted by the Ministry of Trade, Industry, and Energy.
The MOU aims to diversify the suppliers of enriched uranium that is used as nuclear power plant fuel, thereby increasing the stability of fuel supply and demand. This move is expected to strengthen Korea-US nuclear energy cooperation by establishing strategic partnerships with US farmers.
With the agreement in place, KHNP has taken a significant step towards securing a reliable and sustainable supply chain of nuclear fuel, a critical component in ensuring the stability and safety of nuclear energy production.
The partnership between KHNP and Centrus is especially significant because Centrus is the only company in the United States that has obtained a High-Assay Low-Enriched Uranium (HALEU) production license.
HALEU is a type of nuclear fuel used for next-generation nuclear power plants and small modular reactors (SMRs) that are currently under development worldwide. Through cooperation with Centrus, KHNP has increased the possibility of securing the fuel required for future nuclear power plants.
The MOU signed between the two companies will enable them to strengthen their mutual cooperation for stable nuclear fuel supply and continue discussions on expanding business opportunities related to the nuclear fuel supply chain in the future.
