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Nuclear Spent Fuel Market size is set to grow by USD 1.21 billion from 2024-2028, Rising focus on clean energy technologies to boost the market growth, Technavio

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NEW YORK, July 9, 2024 /PRNewswire/ — Several countries reprocess spent nuclear fuel, including France, Russia, Japan, and India. Reprocessing involves extracting usable materials from spent nuclear fuel to recycle and reuse, addressing both energy and waste management concerns. The global nuclear spent fuel market is projected to grow significantly, driven by increasing focus on clean energy technologies despite competition from other energy sources. Key players such as AECOM, Babcock International Group Plc, and Orano are crucial in advancing reprocessing capabilities and managing nuclear waste.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Wet storage and Dry storage) and
Geography (APAC, Europe, North America, Middle
East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and
Africa, and South America

Key companies profiled

AECOM, Ansaldo Energia Spa, Augean Plc,
Babcock International Group Plc, Bechtel Corp.,
BHI Energy, Ecology Services Inc.,
EnergySolutions Inc., Fluor Corp., GNS
Gesellschaft fur Nuklear Service mbH, Hitachi
Zosen Corp., Holtec International, Mitsubishi Heavy
Industries Ltd., OCL Corp., Orano, SKODA JS AS,
Svensk Karnbranslehantering AB, Veolia
Environnement SA, Waste Control Specialists LLC,
and Westinghouse Electric Co. LLC

 

Key Market Trends Fueling Growth

Nuclear power plants worldwide operate under licenses granted by government bodies for approximately 30 years, after which they can be renewed for another 20 years. However, once licenses expire, plants must be upgraded or decommissioned to ensure safety. Safety norms mandate improvements to seismic instrumentation, structure reinforcement, backup cooling water supply, and mobile generators. These requirements increase capital expenditures, making some plants uneconomical to operate. Consequently, several European countries, including France and Germany, have announced the phase-out of nuclear plants. Belgium aims to decommission reactors during 2022-2025. Upon reactor shutdown, nuclear spent fuel remains radioactive and generates heat as it decays. The US NRC sets requirements for handling and storage to protect public and environment. The impending closure of nuclear reactors will drive the growth of the global nuclear spent fuel market. 

Nuclear spent fuel market is a significant sector in the energy industry, focusing on managing the radioactive material generated from nuclear power plants during a nuclear chain reaction. With growing concerns over public safety, environmental contamination, and human health, the market is witnessing trends like advanced reactors, nuclear propulsion systems, and nuclear waste management. Renewable sources, such as solar and wind power, are gaining popularity due to decreasing carbon emissions. However, nuclear power continues to contribute to energy demand and decarbonization efforts. Uranium fuel is the primary source of nuclear power, but managing spent fuel remains a challenge. Wet and dry storage facilities are used for spent fuel management. Low-level waste and intermediate-level waste are currently being stored, while high-level waste requires long-term solutions. Nuclear accidents and fuel security are major concerns, leading to research on advanced fuel designs and reprocessing technologies. Environmental concerns, climate change, and foreign energy sources are driving the need for nuclear fuel cycle optimization and spent fuel management. Proliferation risks and solvent extraction techniques are also under consideration. The market is evolving with electrochemical and ion exchange processes, and the development of new fuel designs and reprocessing technologies. 

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Market Challenges

The renewable energy sector, including geothermal, solar, wind, hydropower, and biomass, accounted for a combined 53% of global electricity generation in 2020, with renewables leading the way at 29%. The International Energy Agency reports that renewables have gained significant traction worldwide, surpassing natural gas as the second-largest electricity source. The European Union aims to generate 35% of its power from renewables by 2030. This shift towards clean energy sources has resulted in a decline in nuclear power generation, which in turn reduces the generation of nuclear spent fuel. Consequently, the global nuclear spent fuel market may experience limited growth during the forecast period.The Nuclear Spent Fuel market faces several challenges that require innovative solutions. One challenge is the management of spent fuel from nuclear power stations, which contains radioactive materials. This includes finding safe and efficient methods for reprocessing and disposal. Proliferation risks associated with spent fuel must also be addressed, particularly in relation to foreign energy sources and military, medical, and defense programs. Another challenge is the transition to carbon-free electricity generation, as fossil fuels continue to dominate the energy landscape. Nuclear power, with its low carbon footprint, is a viable alternative. However, the high level radioactive waste generated from nuclear power reactors poses a significant challenge. Technologies such as MOX fuel, fast reactor fuels, and advanced fuel designs offer potential solutions. Emerging economies are increasing their investment in nuclear power, but they face unique challenges in spent fuel management. Decarbonization strategies and the integration of variable renewable energies require flexible electricity generation, making nuclear power an attractive option. However, public perception and mandates regarding nuclear waste disposal and radioactive contamination remain significant hurdles. Several technologies, including solvent extraction techniques, electrochemical processes, and ion exchange processes, are being researched to improve spent fuel management and reduce the environmental impact of nuclear waste. The nuclear fuel cycle, from uranium mining to spent fuel management and waste disposal, must be optimized for economic and environmental sustainability.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This nuclear spent fuel market report extensively covers market segmentation by

Type 1.1 Wet storage1.2 Dry storageGeography 2.1 APAC2.2 Europe2.3 North America2.4 Middle East and Africa2.5 South America

1.1 Wet storage-  The Nuclear Spent Fuel market refers to the buying and selling of used nuclear fuel rods from power plants. This market is significant due to the continuous production of spent fuel and the need for safe and efficient disposal or reprocessing options. Nuclear energy companies and utilities are key players, seeking solutions to manage their spent fuel inventory. The market size and growth depend on various factors such as government regulations, technological advancements, and market trends. Effective management of spent fuel is crucial for the sustainability and expansion of the nuclear power industry.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Nuclear Spent Fuel market refers to the management and disposal of radioactive material generated from nuclear power plants during the nuclear fission process. This includes fission products, transuranic elements, and Class C waste. The safe handling and storage of spent fuel is crucial for public safety and the environment, as improper management can lead to nuclear chain reactions, environmental contamination, and potential harm to human health. Renewable sources are increasingly replacing nuclear power generation, leading to a decrease in the demand for new nuclear projects. However, the nuclear fuel cycle continues to produce spent fuel, requiring effective spent fuel management. Dry storage facilities are commonly used for interim storage, while deep geological disposal is the preferred long-term solution for spent fuel disposal. Nuclear power stations generate spent fuel for various applications, including medical and military defense programs. Utilized nuclear fuel, such as MOX fuel and fast reactor fuels, can be reprocessed and used again in nuclear reactors to reduce the amount of spent fuel generated. Mandates and regulations play a significant role in spent fuel management, ensuring compliance with safety standards and minimizing risks.

Market Research Overview

The Nuclear Spent Fuel market encompasses the management and disposal of radioactive material generated from nuclear power plants during the nuclear chain reaction. This includes fission products and transuranic elements, which can pose risks to public safety if not properly managed. With the growing focus on renewable sources of energy and decarbonization efforts, the role of nuclear power in the energy mix is under debate. Nuclear waste management, including dry storage facilities and reprocessing technologies, is a critical aspect of the market. Nuclear accidents and environmental contamination are major concerns, while nuclear fuel security and uranium fuel imports are also key issues. The nuclear fuel cycle, from mining to spent fuel management, is a complex process with environmental concerns and proliferation risks. Advanced reactors, nuclear propulsion systems, and carbon emissions are also factors influencing the market. The market intersects with various industries, including power generation, medical, military, and defense programs, and is influenced by factors such as energy demand, climate change concerns, and emerging economies. The transition to clean energy and carbon-free electricity is driving innovation in advanced fuel designs and nuclear waste management solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeWet StorageDry StorageGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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RED Digital Announces Z-Mount Versions of the V-RAPTOR [X] and KOMODO [X]; Price, Preorder and More Info at B&H

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Video News: RED Digital Cinema is bringing the Nikon Z-Mount to their V-RAPTOR [X] and KOMODO [X] cinema cameras, alongside Z-to-PL adapters with drop-in ND filters.

NEW YORK, Feb. 13, 2025 /PRNewswire/ — B&H is pleased to announce new iteration of RED’s popular V-RAPTOR [X] and KOMODO [X] cinema cameras, now with locking Nikon Z-mounts. Releasing alongside these models are new Z-to-PL mount adapters, some with electronic ND filters, as well as conversion kits for shooters who want to add a Z-mount to existing V-RAPTOR [X] or KOMODO bodies.

RED DIGITAL CINEMA KOMODO-X Z Mount 6K Digital Cinema Camera (Nikon Z)
https://www.bhphotovideo.com/c/product/1878415-REG/red_digital_cinema_710_0420_komodo_x_nikon_z.html  

KOMODO-X Z Mount 6K Digital Cinema Camera:19.9MP Super 35 Global Shutter CMOSReinforced, Locking Nikon Z Lens MountAdjustable AF, Smooth Iris ControlCompact KOMODO Line DesignUp to 6K80p & 4K120p Video12G-SDI, USB-C, 5-Pin Audio Ports6K Streaming via RED Connect LicenseWireless Control, File Offload via Wi-FiIntegrated 2.9″ TouchscreenIncludes AC Adapter

The V-RAPTOR [X] 8K VV pairs a global shutter with a full-frame VistaVision-sized sensor. The camera originally came with a locking RF-mount, but will now be available with a locking Z-mount. This new version can be purchased by itself, in a Production Pack with Gold Mount or V-Mount batteries, or in a Starter Pack with a 7″ touchscreen and V-Mount batteries. Alternatively, you can purchase a Z-Mount Conversion Kit for existing V-RAPTOR [X] bodies, or a Z-Mount Upgrade Kit if you have older V-RAPTOR iterations like the V-RAPTOR 8K S35 or 6K S35.

RED DIGITAL CINEMA V-RAPTOR [X] 8K VV Camera (Nikon Z)
https://www.bhphotovideo.com/c/product/1878414-REG/red_digital_cinema_710_0419_v_raptor_x_z_mount.html 

V-RAPTOR [X] 8K VV Camera:Global Shutter Full-Frame VV SensorReinforced, Locking Nikon Z Lens MountAdjustable AF, Smooth Iris ControlGlobal Vision with Extended HighlightsPhantom Track for Ghost Frame, RemappingSupports up to 8K120, 800 MB/s Video17+ Stops of Dynamic RangeRight-Side Assistant’s User InterfaceREDCODE Raw HQ, MQ, LQ | ProRes OptionsDSMC3 Design, USB-C & Dual 12G-SDI Ports

The KOMODO-X 6K sports a global shutter as well, alongside a Super 35-sized sensor and a compact body. Like the V-RAPTOR [X], the KOMODO-X originally shipped with a locking RF-mount, but will now be available in a new Z-mount variation. The Z-mount body is available by itself, in a Production Pack with Gold Mount or V-Mount batteries, or in a Power Zoom Pack with the versatile Nikon NIKKOR Z 28-135mm f/4 PZ lens. This full-frame power zoom lens is custom-built for video work. There is also a Z-Mount Conversion Kit available for existing KOMODO-X owners.

Complementing these new cameras are four Z-to-PL adapters that support Cookie /i lens communication and record triggering. These V-RAPTOR [X] and KOMODO-X adapters are available in standard configurations or with a dial-in 2-7 stop electronic neutral density filter. You can adjust the ND by ¼, 1/3, or full stop increments via integrated buttons on the adapter or through existing RED control protocols on monitors and apps.

Learn More about the newest RED Z Mount Cinema Cameras                   
https://www.bhphotovideo.com/explora/video/news/red-announces-z-mount-versions-of-the-v-raptor-x-and-komodo-x

Red Digital Cinema
https://www.bhphotovideo.com/c/browse/red/ci/36678/N/3509699958 

Red V- Raptor X Cameras                                                 
https://www.bhphotovideo.com/c/browse/raptor-x-cameras/ci/59049 

RED KOMODO Cameras
https://www.bhphotovideo.com/c/browse/red-komodo-cameras/ci/59048 

RED V-RAPTOR Cameras
https://www.bhphotovideo.com/c/browse/red-dsmc3-cameras/ci/53954 

Tripods – Camera Tripods
https://www.bhphotovideo.com/c/browse/Tripods-Support/ci/8159/N/4075788743

Camera Bags
https://www.bhphotovideo.com/c/browse/Bags-Cases-Carrying-Equipment/ci/167/N/4075788798

More Categories

USB C Headphones
https://www.bhphotovideo.com/c/buy/usb-c-headphones/ci/59912

Curved Gaming Monitors
https://www.bhphotovideo.com/c/buy/curved-gaming-monitors/ci/59914

External Hard Drives
https://www.bhphotovideo.com/c/browse/external-drives/ci/30538

4K Monitors
https://www.bhphotovideo.com/c/buy/4k-monitors/ci/59915

About B&H Photo Video

As the world’s largest source of photography, video, and audio equipment, as well as computers, drones, and home and portable entertainment, B&H is known worldwide for its attentive, knowledgeable sales force and excellent customer service, including fast, reliable shipping. B&H has been satisfying customers worldwide for more than 50 years. 

Visitors to the website can access a variety of educational videos and enlightening articles. The B&H YouTube Channel has an unmatched wealth of educational content. Our entertaining and informative videos feature product overviews from our in-house specialists. You can view the B&H Event Space presentations from many of the world’s foremost experts and interviews with some of technology’s most dynamic personalities. Tap into this exciting resource by subscribing to the B&H YouTube Channel here. In addition to videos, the B&H Explora blog presents new product announcements, gear reviews, helpful guides, and tech news written by product experts and industry professionals, as well as our award-winning podcasts.

When you’re in Manhattan, take a tour of the B&H Photo SuperStore, located at 420 Ninth Avenue. The techno-carousel spins all year round at the counters and kiosks at B&H. With hundreds of products on display, the B&H Photo SuperStore is the place to test-drive and compare all the latest gear.

The B&H Payboo Credit Card offers the industry’s best instant savings and special financing, subject to credit approval. Visit B&H’s Payboo Page to learn more and apply.

Contact Information
Geoffrey Ngai

B&H Photo Video

212-615-8820
https://www.bhphotovideo.com/ 

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SOURCE B&H Photo

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ION partners with Avalara to tackle tax compliance risks in energy trading

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LONDON, Feb. 13, 2025 /PRNewswire/ — ION Commodities, a global leader in energy and commodity management solutions, announces its strategic partnership with Avalara, a leading provider of cloud-based tax compliance automation for businesses of all sizes. As a technology partner in Avalara’s Partner Program, ION Commodities’ solutions will standardize integration with Avalara’s AvaTax for Energy tax engine solution to address the complexities of tax compliance in energy trading and logistics.

Tax compliance in energy markets requires navigating complex and dynamic tax rates and rules across multiple jurisdictions. This partnership between ION and Avalara will reduce the risk of incorrect or delayed tax calculations, thus helping firms to avoid financial penalties, audit risks, and increasing operational efficiency. 

The forthcoming integration will offer energy companies an automated, more accurate, and scalable tax compliance solution, enabling real-time tax calculation, reducing reliance on manual processes, and minimizing errors. Customers will also benefit from streamlined operations, enhanced decision-making, and reduced administrative overhead, allowing greater focus on core trading and operational objectives.

The combination of Avalara’s industry-standard expertise in compliance automation and ION Commodities’ industry-leading commodity management platforms will deliver an end-to-end solution for trading, risk, logistics, and tax management tailored to the evolving needs of the energy sector.

“Tax compliance is one of the most onerous factors impacting energy and commodities enterprises, and their ability to scale and operate efficiently,” said Steve Lacoff, Vice President and General Manager at Avalara. “Our partnership with ION gives mutual customers in these sectors a greatly simplified path to compliance automation, with reduced compliance risk, and greater operational efficiency.”

“Collaborating with Avalara aligns with our mission to deliver comprehensive, integrated solutions for the energy and commodities industry,” said Sunil Biswas, Chief Executive Officer at ION Corporates. “This partnership enhances our offering with advanced tax compliance capabilities, empowering our community to navigate the complexities of tax regulations with confidence.”

About ION
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporate organizations. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their businesses for sustained success through continuous innovation. For more information, visit https://iongroup.com/.

About ION Commodities
ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients with real-time risk analytics and reporting, minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/

About Avalara
Avalara makes tax compliance faster, easier, and more accurate, reliable, and valuable for 41,000+ business and government customers in over 75 countries. Tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. Visit avalara.com to improve your compliance journey. https://www.avalara.com/us/en/index.html

All product and company names herein may be trademarks of their registered owners.

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SOURCE ION

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Newronika Closes €13.6 Million Series B Financing to Accelerate Development of Adaptive DBS Platform

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MILAN, Feb. 13, 2025 /PRNewswire/ — Newronika, a global leader in advanced deep brain stimulation, is pleased to announce the successful closing of its €13.6 million Series B funding round. The financing was led by a new investor, Fondazione ENEA Tech e Biomedical, with additional participation from existing investors Indaco Venture Partners SGR, Innogest SGR, Wille Finance, TNBT Capital, and F3F.

This significant influx of capital will empower Newronika to expand the clinical validation and commercialization of its proprietary adaptive DBS system, its innovative platform designed to deliver precision therapy aimed to improve symptom relief and reduce side effects for Parkinson’s disease patients. The funds will also facilitate the advancement of product pipelines, recruiting top-tier talent, and establishing strategic collaborations that further strengthen the company’s position at the intersection of medical device engineering and neuroscience.

Newronika’s continued momentum – evidenced by recent The Michael J. Fox Foundation grant and IDE approval, and now a substantial funding round – underscores the company’s central mission: to champion a paradigm shift in neuromodulation. Adaptive DBS represents the future of personalized brain stimulation, and Newronika remains dedicated to leading that evolution.

“We are thrilled with the strong support from both new and existing investors,” said Dr. Lorenzo Rossi, Co-Founder and CEO of Newronika. “This Series B round validates our commitment to transform the way deep brain stimulation is delivered. We aim to seamlessly integrate real-time neural data and machine learning into our DBS systems to create truly personalized therapies that surpass the capabilities of existing devices on the market.”

“With Newronika and its adaptive DBS platform, we see extraordinary potential to revolutionize the treatment of movement disorders on a global scale,” said Maria Cristina Porta, ENEA Tech e Biomedical General Manager. “Their innovative approach, capable of real-time, personalized neuromodulation, perfectly aligns with our vision of supporting disruptive medical technologies. We are excited to partner with Newronika to deliver next-generation DBS solutions to patients in need. Investing in technologies like this means caring for people’s health while creating value and driving innovation within our Country’s ecosystem.”

Davide Turco, CEO of Indaco said: “Indaco is proud to continue supporting Newronika, also through its Indaco Venture I – Lombardia Parallel Fund, in the upcoming clinical and commercial phases. We strongly believe that Newronika’s adaptive DBS system will improve the quality of life for many Parkinson’s patients.”

“This successful Series B financing round further solidifies Newronika’s strategic vision and commitment to pushing the boundaries of DBS technology to benefit patients” said Claudio Giuliano, Chairman of Newronika.

About the Investors

ENEA Tech e Biomedical is an Italian foundation supporting high-impact projects in biotechnology, medical devices, and life sciences, focusing on transformative solutions for global healthcare challenges. (https://www.fondazioneneatechbiomedical.it)

Indaco Venture Partners SGR is one of Italy’s largest venture capital firms, investing equally through its Indaco Ventures I fund and Indaco Venture I – Lombardia Parallel Fund to support cutting-edge innovations in healthcare and technology. Indaco Venture I – Lombardia Parallel Fund is an investment fund managed by Indaco Venture SGR S.p.A., selected through a public procedure by Regione Lombardia as part of the regional initiative Lombardia Venture, a fund of funds financed by ERDF PR 21-27 (Action 1.3.2) and managed by Finlombarda, which aims to support access to risk capital by Lombardy companies and to attract risk capital investment in companies through a partnership approach with private investors. Indaco Venture I – Lombardia Parallel Fund systematically co-invests with the Indaco Venture I Fund in companies operating in the region with high potential for technological innovation. (www.indacosgr.com)

Innogest SGR is a venture capital firm specializing in med-tech and digital health, leveraging its extensive experience to foster innovative healthcare startups. (https://www.innogestcapital.com)

Wille Finance is a Swiss-based multi-family office committed to impactful investments in healthcare, technology, and other transformative sectors. (https://www.willefinance.com)

TNBT Capital is a Paris-based investor focused on pioneering technologies in neuromodulation and neurotechnology. (https://www.tnbtcapital.com)

F3F is an Italian venture capital firm investing in innovative med-tech companies that are redefining patient care.

About Newronika

Newronika is transforming deep brain stimulation (DBS) through its adaptive platform that uses real-time patient data to optimize therapy. Headquartered in Milan, Italy, the company is committed to advancing neuromodulation beyond conventional limitations. With ongoing research collaborations, a CE Mark for its technology, and now an Investigational Device Exemption from the FDA, Newronika stands at the forefront of next-generation therapeutic innovation for neurological disorders.

For more information, visit www.newronika.com or follow us on LinkedIn.

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