Ukrainian Energy Company "Energoatom" Signs Memorandum on Uranium with ConverDyn

Ukrainian Energy Company "Energoatom" Partners with ConverDyn to Advance Uranium Conversion

Ukrainian energy company "Energoatom" has signed a memorandum with American company ConverDyn regarding uranium. The Ukrainian National Nuclear Energy Company, "Energoatom," and American company ConverDyn have signed a memorandum of understanding in the field of uranium conversion, as reported by "Energoatom."

"During the World Nuclear Symposium 2023, held in London, President of NNEGC "Energoatom" Petro Kotin and President of American company ConverDyn Malcolm Critchley signed a confidentiality agreement and a memorandum of understanding in the field of uranium conversion," the statement said in the "Energoatom" Telegram channel.

The document is said to involve assistance in increasing domestic uranium production at the Ukrainian Eastern Mining and Processing Plant and the construction of a plant for converting the mined natural product into uranium hexafluoride in Ukraine. This process is an integral part of creating a complete nuclear cycle.

The company noted that the first consultations on establishing cooperation took place in 2022.

ConverDyn is a joint partnership between American transnational companies General Atomics and Honeywell, providing uranium hexafluoride conversion and related services to nuclear power plants in North America, Europe, and Asia.

In August, "Energoatom" signed an agreement with Canadian company Cameco, which includes the sale of Ukrainian uranium to Canada. Cameco will produce nuclear fuel for the Rivne, Khmelnitsky, and South Ukrainian nuclear power plants from 2024 to 2035.

The signing of the memorandum between "Energoatom" and ConverDyn marks another step in Ukraine's efforts to strengthen its nuclear energy sector. The collaboration with ConverDyn aims to enhance domestic uranium production and establish a plant for converting natural uranium into uranium hexafluoride.

The conversion of uranium is a crucial process in the nuclear fuel cycle, as it prepares the material for enrichment and subsequent use in nuclear reactors. By increasing its own uranium production and developing the conversion capabilities, Ukraine aims to enhance its energy independence and reduce reliance on imported uranium.

Cooperation with ConverDyn, an experienced company in uranium conversion, can provide valuable expertise and support to Ukraine in developing its nuclear industry. This partnership has the potential to boost the country's nuclear fuel capabilities and contribute to the overall growth and sustainability of the Ukrainian energy sector.

Furthermore, the agreement with Cameco for the sale of Ukrainian uranium to Canada further strengthens Ukraine's position in the global uranium market. It ensures a stable market for Ukrainian uranium and establishes a long-term partnership for the supply of nuclear fuel for Ukrainian nuclear power plants.

The development of the Ukrainian nuclear energy sector is of strategic importance for the country, as it plays a significant role in meeting the nation's energy needs and reducing reliance on fossil fuels. By expanding its uranium production and enhancing conversion capabilities, Ukraine can secure a more sustainable and diversified energy mix, ensuring a reliable and clean source of electricity for its citizens.

In conclusion, the signing of the memorandum between "Energoatom" and ConverDyn represents a significant step forward in Ukraine's efforts to strengthen its nuclear energy sector. The collaboration aims to enhance domestic uranium production and establish a plant for converting uranium into uranium hexafluoride. This partnership, along with the agreement with Cameco, will contribute to Ukraine's energy independence and the long-term sustainability of its nuclear industry.