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South Korea's Woori Technology Completes KRW 40 Billion Convertible Bond Financing to Bolster Nuclear Power and SMR Businesses

Woori Technology, a South Korean company specializing in nuclear power plant Man-Machine Interface Systems (MMIS) and related instrumentation and control equipment, announced on August 6 that it has decided to issue the 20th series of unregistered, unsecured private convertible bonds (CBs) totaling KRW 40 billion. The raised funds will be primarily used for nuclear power, small modular reactor (SMR), offshore wind power, and resource recycling businesses. The maturity date of these convertible bonds is August 13, 2031, with a conversion price of KRW 10,717 per share. Both the coupon rate and yield to maturity are 0%, which helps the company secure long-term funding for core business investments while controlling financial costs. Woori Technology stated that the raised funds...

2026-08-06

UK Office for Nuclear Regulation contributes to IAEA regulatory cooperation toolkit for advanced reactors

The International Atomic Energy Agency (IAEA) recently published the Nuclear Harmonization and Standardization Initiative (NHSI) Regulatory Cooperation Toolkit. The UK Office for Nuclear Regulation (ONR) played a significant role in the development of this toolkit, which is designed to support cooperation among national nuclear regulators in the review of advanced reactor technologies. The toolkit is one of the key outputs of Phase 2 of the NHSI (2025–2026), developed jointly by multiple regulators participating in the NHSI Regulatory Track and the Small Modular Reactor (SMR) Regulators' Forum. The toolkit provides practical guidance, templates, and methodologies to help regulators conduct collaborative reviews, leverage existing regulatory assessment outcomes, and address...

2026-08-05

Mitsubishi Heavy Industries to Fully Develop Small Modular Reactors, Targeting Commercialization in Japan

Against the backdrop of the Japanese government's push to expand nuclear energy utilization, Mitsubishi Heavy Industries has decided to proceed with full-scale development of Small Modular Reactors (SMRs), with the goal of achieving commercial application in Japan. This is seen as a significant step forward by a Japanese private enterprise toward the practical deployment of SMRs. The Basic Energy Plan approved by Japan's Cabinet last year calls for maximizing the use of nuclear energy. At a ministerial meeting held last week, the Japanese government once again confirmed its commitment to advancing the research, development, and deployment of next-generation nuclear reactors. SMRs represent one of the technology pathways for next-generation nuclear reactors. Due to their smaller unit size and higher degree of modularization, the industry generally...

2026-08-05

South Korea Accelerates Safety Reviews of Long-Term Operating Nuclear Reactors and Advances Licensing of First Spent Fuel Dry Storage Facility

The Nuclear Safety and Security Commission (NSSC) of South Korea stated at its second-half work report meeting on August 4 that it will accelerate safety reviews of long-term operating nuclear reactors while simultaneously advancing regulatory efforts such as licensing systems for spent fuel dry storage facilities and small modular reactors. Under the plan, the NSSC will conduct safety inspections on nine reactors applying for continued operation, with review standards referencing newly built nuclear power plants and confirming safety margins in consideration of the characteristics of long-term unit operation. Among these, whether Kori Nuclear Power Plant Units 3 and 4 will be approved for continued operation in the second half of this year, and whether Hanbit Nuclear Power Plant Units 1 and 2 will be approved for continued operation in the first half of next year, are the near-term review priorities...

2026-08-05

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

IIT Hyderabad launches nuclear technology training programme

The Indian Institute of Technology Hyderabad (IIT Hyderabad), in collaboration with Pune-based technology company Crimson Energy Experts Pvt. Ltd. (CEEPL), has launched a three-month full-time residential training programme to train engineers and industry professionals for India's expanding civil nuclear energy sector. The programme, named Anugyan-Nuclear Technology Orientation Programme (NTOP), is described as India's first industry-academia collaborative initiative dedicated specifically to engineering talent development in the nuclear energy sector, with a focus on bridging the gap between academic curricula and nuclear industry engineering practice.

2026-08-04

Greece to Set Up Cross-Ministerial Group to Study Nuclear Energy Deployment, with Focus on Small Modular Reactors

Greek Prime Minister Kyriakos Mitsotakis announced that Greece will establish a cross-ministerial group to study the scientific basis and legal framework required for the potential deployment of nuclear energy. The Greek government has approved the establishment of the relevant cross-ministerial body, laying the institutional foundation for subsequent assessment work. At a cabinet meeting held on July 30, Mitsotakis stated that an increasing number of countries are considering generating electricity using small modular reactors, and Greece cannot ignore this trend. He said Greece should at least conduct research and obtain complete data before making any decisions. The effort aims to keep Greece abreast of international nuclear technology developments and build a professional...

2026-08-04

Portuguese Parliament Advised to Assess Feasibility of Small Modular Reactors in the Country

On July 30, the Portuguese Parliament received a draft resolution recommending that the government adopt a pro-nuclear stance and conduct an assessment of the feasibility of using small modular reactors in the country. The draft emphasizes that, against the backdrop of the Russia-Ukraine conflict, successive wars in the Middle East, and the increasing fragility of international supply routes, energy security is no longer merely an economic or environmental issue but a core element of national sovereignty and strategic autonomy. Portugal should not ideologically exclude any low-carbon technology without objective research. The draft resolution points out that Portugal's current energy policy should balance supply security, economic competitiveness, consumer protection, and emission reduction goals, without preemptively rejecting any technology that could contribute to these...

2026-08-01

Italy Moves to Approve Advanced Nuclear Legal Framework, Paving Way for Small Modular Reactors

Italy's parliament is expected to approve a bill next week establishing a legal framework for advanced nuclear technologies, covering next-generation nuclear solutions such as small modular reactors (SMRs). If passed, the bill would authorize the government to formulate specific rules within one year on reactor licensing, safety regulation, radioactive waste management, and site selection. Italy's Minister of Environment and Energy Security, Gilberto Pichetto Fratin, stated that the government's current responsibility is to create the necessary conditions so that entities responsible for future construction decisions can proceed in accordance with the law. In June this year, the Italian Chamber of Deputies...

2026-08-02

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

World Nuclear Association expects global large-scale nuclear power construction spending to peak between 2041 and 2045

The World Nuclear Association (WNA) expects global nuclear power industry spending to reach a phased peak between 2041 and 2045. At 2025 prices, approximately $1 trillion will be directed toward the construction of large nuclear power plants during this period. Sama Bilbao y León, Director General of the World Nuclear Association, stated that investment interest in the nuclear energy sector has significantly increased, with 50 countries having formulated relatively specific nuclear energy development plans. She believes that implementing these plans will require substantial financial support, with the required investment scale far exceeding current levels. According to the Association's estimates, in addition to large nuclear power plant construction, approximately $450 billion will be allocated globally to small modular reactor projects between 2041 and 2045, along with $84 billion for extending the operational lifetimes of existing reactors.

2026-07-30