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Valar Atomics Completes $1 Billion Equity Financing, Sequoia Capital Partner Joins Board

Nuclear energy startup Valar Atomics confirmed on August 3 that it has completed a $1 billion equity financing round led by Sequoia Capital. Company founder and CEO Isaiah Taylor stated that Sequoia Capital partner Shaun Maguire has joined the company's board of directors. In addition to the equity financing, Valar Atomics also secured a $200 million credit facility from Erebor and other banks. Valar Atomics did not disclose its post-financing valuation. Reports indicate the company is valued at approximately $6 billion. Valar Atomics primarily...

2026-08-04

Vietnam Electricity Group Plans to Train Over 2,000 Specialists for Ninh Thuan 1 Nuclear Power Project

Vietnam Electricity Group (EVN) has launched a talent assurance program for the Ninh Thuan 1 Nuclear Power Project, aiming to train over 2,000 specialists for the construction, operation, and maintenance of the facility. As Vietnam's first nuclear power project, the Ninh Thuan 1 Nuclear Power Project must simultaneously address key issues such as the legal framework, project financing, restructuring of implementing agencies, and acceleration of investment preparation while advancing human resource readiness. EVN stated that it is cooperating with the Ministry of Education and Training, international nuclear technology partners, and relevant institutions with nuclear energy experience to develop a systematic education and training program for Ninh Thuan 1 Nuclear Power Project personnel. According to preliminary arrangements, the project management organization will require approximately 400 personnel, responsible for construction investment, technical,...

2026-08-04

Vietnam's National Assembly Committee on Defense, Security and Foreign Affairs officially reviews approval contents related to Ninh Thuan Nuclear Power Plant

On the morning of July 31, the National Assembly's Committee for Defense, Security and Foreign Affairs of Vietnam officially commenced the review of approval contents related to the Ninh Thuan Nuclear Power Plant. At the plenary session held at the National Assembly office building, the Committee's Standing Board convened its second formal review meeting to approve contents related to the Ninh Thuan Nuclear Power Plant. The meeting was chaired by Le Tan Toi, member of the Party Central Committee and Chairman of the Committee for Defense, Security and Foreign Affairs, with Vu Hai Ha, member of the Party Central Committee and Standing Vice Chairman of the Committee for Defense, Security and Foreign Affairs, responsible for the organization and coordination of the meeting. At the meeting, representatives from the Office of the President submitted relevant reports, and leaders from the Ministry of Industry and Trade also delivered presentations. Participants...

2026-08-01

Changwon National University and Vietnam Atomic Energy Institute Join Forces to Promote Korea-Vietnam Nuclear Power Industry Synergy

Changwon National University announced that a delegation from the Vietnam Atomic Energy Institute recently visited the university for in-depth discussions on the development of Vietnam's nuclear power industry and cooperation plans in the field of small modular reactors (SMRs). The delegation was led by Dr. Phan Viet Cuong, Deputy Director of VINATOM, among others. The visit came at a time when the Vietnamese government has been comprehensively promoting the introduction of SMRs as a core national energy strategy since 2024. Through the consultations, both sides reached a consensus on close cooperation to strengthen Vietnam's nuclear power technology competitiveness and foster the next-generation SMR industry. In particular, centered on Changwon National University's "SMR² Platform National Research Institute," customized educational programs will be operated for Vietnamese researchers and students...

2026-08-01

Bac Ninh Province, Vietnam Publishes Revised List of 22 Administrative Procedures in the Field of Radiation and Nuclear Safety

The Chairman of the Bac Ninh Provincial People's Committee recently issued Decision No. 2017/QD-UBND, publishing the revised and supplemented list of administrative procedures in the field of radiation and nuclear safety within the functional management scope of the Bac Ninh Provincial Department of Science and Technology. The list comprises a total of 22 administrative procedures, covering specific matters such as licensing for radiation operations, registration of nuclear technology application services, and license renewal and modification. This serves as the provincial-level implementation and localization of authority delegated or adjusted by central ministries (such as Decision No. 2607/QD-BKHCN of the Vietnamese Ministry of Science and Technology issued in May 2026). According to the requirements of the Decision, the Bac Ninh Provincial Department of Science and Technology will take the lead, in coordination with relevant agencies and the People's Committees of districts and cities, to review and improve the electronic processing workflows and structures within administrative procedures, relying on the one-stop and integrated one-stop mechanisms. At the same time, the procedure contents will be publicly posted at public administrative service centers in communes and townships, as well as at points for receiving administrative procedures and returning results, and will be strictly processed online in accordance with the regulations published on the National Public Service Portal (https://dichvucong.gov.vn). This arrangement aims to unify the service guides, document checklists, and processing timelines for radiation and nuclear safety matters into a digital window, reducing the need for in-person visits.

2026-08-01

Korea and UAE Eye Joint Bid for Vietnam's Ninh Thuan 2 Nuclear Power Project

A South Korean team comprising the Korean government, Korea Electric Power Corporation (KEPCO), and Korea Hydro & Nuclear Power (KHNP) is seeking cooperation with the United Arab Emirates (UAE) to jointly compete for Vietnam's nuclear power project. The proposed plan aims to combine South Korea's experience in large-scale nuclear power plant construction with the UAE's financial strength to enhance both parties' competitiveness in the international nuclear power market. According to sources from South Korea's nuclear power industry, the Ministry of Trade, Industry and Energy (MOTIE) held a high-level meeting with Vietnam's Ministry of Industry and Trade (MOIT) in Hanoi earlier this month, proposing a joint South Korea-UAE participation in the construction of Vietnam's Ninh Thuan 2 Nuclear Power Project. The Ninh Thuan nuclear power project is located in Ninh Thuan Province in central Vietnam, with plans to build four nuclear power units. In the early arrangements of the project, Russia planned to bid for the Ninh Thuan 1 Nuclear Power Project, while Japan planned to bid for the Ninh Thuan 2 Nuclear Power Project. After Japan withdrew and relinquished its preferential bidding rights, South Korea gained the opportunity to enter the competition for the project.

2026-08-01

Vietnam's Ninh Thuan Nuclear Power Plant Phases 1 and 2 Accelerate: Resettlement and Land Clearance Take Priority

On July 31, 2026, the Vietnam News Agency reported that the People's Committee of Khanh Hoa Province is urgently implementing tasks assigned by the central government to advance Sub-projects No. 1 and No. 2 of the Ninh Thuan 1 Nuclear Power Plant (Phuoc Dinh Commune) and the Ninh Thuan 2 Nuclear Power Plant (Vinh Hai Commune) — namely, resettlement and land clearance works. The Khanh Hoa Provincial Investment and Construction Project Management Board has been designated by the Provincial People's Committee as the investor for the two sub-projects. Regarding Sub-project No. 1 (resettlement and land clearance) of the Ninh Thuan 1 Nuclear Power Plant, the Provincial Project Management Board has completed the approval of construction drawings and budgets and is currently selecting contractors for 6 construction and installation packages. Among them, Package No. 15 (technical infrastructure for the resettlement area) has completed contractor selection and signed the construction contract. The construction unit has received 34.7 hectares of land and coordinate markers out of the 65.12-hectare resettlement area, and the temporary camp and project headquarters have commenced construction. The remaining packages pending bidding include: Package No. 14 (water supply facilities for the resettlement area), Package No. 16 (social infrastructure for the resettlement area), Package No. 17 (fishing vessel berthing area and revetment embankment), Package No. 18 (cemetery facilities), and Package No. 33 (construction and renovation of medium-voltage power lines and substations).

2026-07-31

Vietnam and Russia Join Forces to Accelerate Nuclear Science and Technology Research Center Project

On the afternoon of July 30, Vietnamese Minister of Science and Technology Vu Hai Quan received a delegation led by Ilja Vergizajev, General Director of Rosatom Construction Technology Co., Ltd., a subsidiary of Russia's State Atomic Energy Corporation (Rosatom), in Hanoi. During the meeting, the Vietnamese side put forward three specific requests: accelerating the construction of the Vietnam Nuclear Science and Technology Research Center (CNST); supporting Vietnam in gradually mastering small modular reactor (SMR) technologies; and training human resources for Vietnam in the fields of atomic energy, radiation, and nuclear safety. Both sides confirmed that nuclear cooperation holds strategic significance and has long been a focus of high-level attention between the two countries. The CNST has been defined by the Vietnamese side as a...

2026-07-31

Crusoe and Aalo Atomics Forge Strategic Partnership: First Nuclear-Powered AI Facility Planned

U.S.-based Crusoe and Aalo Atomics have reached a strategic partnership aimed at deploying the first nuclear-powered artificial intelligence facility. This commercial collaboration builds on Aalo's recent criticality achievement, underscoring U.S. leadership in AI and energy. Crusoe's Spark modular AI data centers will be co-located with Aalo Atomics' nuclear reactor buildings at Idaho National Laboratory. The project aims to validate the effectiveness of nuclear energy for AI workloads. Cully Cavness, co-founder, president, and chief strategy officer of Crusoe, stated that next-generation AI infrastructure requires reliable, abundant, clean, and scalable power, and Aalo's reactors are designed precisely for that purpose. Crusoe's core value is "bending the energy arc toward sustainability," guided by the principle of leveraging its market position to support and accelerate energy innovation...

2026-07-31

U.S. Nuclear Power Consulting Firm EXCEL Services Officially Enters Vietnamese Market

U.S. nuclear power technology consulting firm EXCEL Services Corporation has established a subsidiary in Vietnam and is actively collaborating with domestic partners, coinciding with the restart of Vietnam's nuclear power projects. This move marks further development of bilateral cooperation in the nuclear energy sector. Currently, Vietnam is restarting its nuclear power development plans, attracting attention from numerous international partners. On July 28, EXCEL Services Corporation announced the establishment of its Vietnamese subsidiary and signed a Memorandum of Understanding (MoU) with the National Innovation Center (NIC) and Ho Chi Minh City University of Technology, while actively advancing more cooperation agreements with Vietnamese government agencies and enterprises. James Voss has been appointed as...

2026-07-30

Serbia and France Sign Nuclear Energy Cooperation Partnership Agreement

Serbia and France are deepening cooperation in the nuclear energy field, with both sides signing a significant partnership agreement. Serbian Minister of Mining and Energy Dubravka Đedović-Handanović announced via social media that the agreement was signed jointly by the Republic of Serbia, French electricity company EDF, and the French Development Agency AFD, aiming to lay the foundation for Serbia's peaceful nuclear energy projects. This cooperation will focus on strengthening Serbia's expertise, talent pool, and organizational capacity in the nuclear energy sector, while providing a scientific basis for future energy decisions. This partnership follows the Serbian government's reception of an EDF delegation and French Ambassador to Serbia Florence Ferrari...

2026-07-30

Vietnam-Hungary Industrial Education Cooperation Seminar Held, Vietnam Plans to Send Students to Study Nuclear Energy Technology in Hungary

On July 29, a delegation from the Vietnamese Ministry of Industry and Trade held a seminar with the Hungarian Rectors' Conference and the Budapest University of Technology and Economics (BME), focusing on promoting educational cooperation in the industrial sector, particularly in Hungary's advantageous disciplines such as mechanical engineering, semiconductors, nuclear energy, and information technology. Dr. Nguyen Van Thien, Vice President of Hanoi University of Industry, proposed that BME provide short-term or long-term training courses for lecturers from his university. Associate Professor Nguyen Xuan Hoan, President of Ho Chi Minh City University of Industry and Trade, expressed hope to send 3 to 5 graduate students to study at BME this year or next year through government scholarships, with the expectation that they would return to work in Vietnam after graduation. The Vietnamese delegation also stated that, in preparation for the upcoming nuclear power project, it hopes to send students to Hungary to study nuclear energy technology starting this year.

2026-07-30

The 7th National Nuclear Regulatory Conference of Vietnam Convened: Improving the Legal Framework to Serve the National Nuclear Program and Sustainable Development

The 7th National Nuclear Regulatory Conference of Vietnam was held in Quang Ninh Province, with the theme of national management of radiation and nuclear safety serving socio-economic development. The conference brought together leaders from the government, ministries, and industry sectors, local officials, as well as over 400 delegates and experts from international organizations including the International Atomic Energy Agency (IAEA). This conference aimed to comprehensively assess the achievements of national governance in the field of radiation and nuclear safety over the past period, unify directions, clarify tasks, and formulate key solutions for development from 2026 to 2035. The conference took place at an important time when Vietnam's nuclear program is being restarted, supporting the peaceful use of atomic energy, ensuring radiation and nuclear safety, and strengthening national scientific and technological capabilities...

2026-07-30

SK Innovation Proposes LNG and Small Modular Reactor Cooperation in Vietnam

South Korea's SK Innovation has proposed a phased energy cooperation plan for Vietnam, initially using liquefied natural gas (LNG) power generation to ensure electricity supply, and later expanding to next-generation nuclear energy technologies such as small modular reactors (SMRs), in response to growing electricity demand driven by Vietnam's artificial intelligence and high-tech industry development. On July 29, SK Innovation announced that its CEO, Choo Hyeong-wook, visited Vietnam from the 16th to the 17th and met with officials from the Ministry of Industry and Trade, Vietnam Oil and Gas Group (PVN), and its power generation subsidiary, PetroVietnam Power Corporation (PV Power), to discuss cooperation in the energy and high-tech sectors. According to SK Innovation's...

2026-07-30

DOE's Oak Ridge National Laboratory and REV Advance Shared Fusion Test Platform Construction

The U.S. Department of Energy (DOE)'s Oak Ridge National Laboratory (ORNL) and fusion energy consulting and investment firm Rutherford Energy Ventures (REV) have officially launched a new public-private partnership framework development effort to build shared fusion test platform infrastructure at Oak Ridge National Laboratory. The collaboration framework, named the Fusion Accelerated Scaling Leverage Alliance (FULCRA), aims to explore new design and financing models for the proposed Fulcrum test facility at Oak Ridge National Laboratory, addressing critical capability gaps identified in the DOE's Fusion Science and Technology Roadmap...

2026-07-29