The U.S. is doubling down on nuclear power generation as a means to reduce emissions and is supporting demonstration projects of advanced smaller nuclear reactors that promise to be more efficient and cost less to build than the current nuclear fleet.
However, there is one major hurdle to the construction of most advanced reactors under development in the United States—the uranium type of fuel on which those reactors are designed to run is currently sold commercially by only one company in the world. And that company is a subsidiary of Russia’s ROSATOM, the Russian State Atomic Energy Corporation.
The federal government and U.S. companies developing advanced nuclear reactors—including Bill Gates’ TerraPower—recognize the urgent need to eliminate reliance on a Russian state corporation for nuclear fuel for America’s next-generation nuclear reactors.
The association Uranium Producers of America noted during a Senate committee hearing after the Russian invasion of Ukraine that “almost none of the fuel needed to power America’s nuclear fleet today comes from domestic producers, while U.S. nuclear utilities purchase nearly half of the of the uranium they consume from state-owned entities (SEO) in Russia, Kazakhstan, and Uzbekistan.”