The Nuclear Innovation Alliance believes that an increase in the domestic production of nuclear energy in America will help the country achieve 100% clean energy by 2050.
The organization believes that this increase is achievable, which is why it’s urging the Department of Energy to launch an advanced nuclear energy program under its Energy Earthshots Initiative. The Energy Earthshots Initiative was launched last year to speed up breakthroughs of more reliable, affordable and abundant clean-energy solutions in the decade. There are about eight Energy Earthshots planned under this initiative, including the carbon negative shot and the long duration shot. The advanced nuclear energy program would be the ninth shot.
Judi Greenwald, executive director of the Nuclear Innovation Alliance (NIA), stated that for America to achieve its 2050 climate objectives, significant development of advanced nuclear technologies was required.
Greenwald made these remarks during the launch of the organization’s blueprint to achieve its goal to develop advanced nuclear technologies, dubbed Fission Vision. This blueprint comprises the following objectives: integrating advanced nuclear energy with other clean sources of energy, providing social licenses to operate advanced nuclear energy, and catalyzing a strong innovation and commercialization ecosystem in the United States.
Greenwald explained that the achievement of these goals would allow advanced reactors to play a significant role in meeting America’s energy and climate objectives, at least by doubling the production of nuclear energy. The decarbonization of the U.S. economy refers to the reduction of carbon emissions from every source, no matter how big or small.
In the last 10 years, low-carbon generating technologies such as solar and wind have been deployed in high figures and will help decrease emissions from fossil fuels. However, these technologies by themselves will not be enough to meet climate targets, which is where nuclear energy comes in.
The NIA’s report states that the establishment of a new advanced nuclear energy program based on the Energy Department’s initiative model for other technologies may facilitate the rapid acceleration of development and deployment of advanced nuclear technologies in the U.S. Adding an advanced nuclear energy program to the earthshots initiative would integrate activities under the Department of Energy across multiple dimensions.
For instance, it would integrate innovation of advanced reactors with supply chain innovation, as well as integrate research and development efforts by the Office of Nuclear Energy with efforts in the Office of Clean Energy Demonstration. It would also integrate the energy department’s efforts with the broader commercialization and innovation system.
The report noted that an Advanced Nuclear Energy earthshot would create conditions to achieve the NIA’s Fission Vision blueprint. As more nuclear energy is consumed domestically, local enterprises such as Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) would have a bigger domestic market to serve and therefore have the impetus to grow their operations at a faster pace.
NOTE TO INVESTORS: The latest news and updates relating to Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) are available in the company’s newsroom at http://ibn.fm/UUUU
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