Cameco Signs MOU With GE Hitachi, Synthos Green Energy For Uranium Supply Chain Servicing Potential SMRs In Poland

Cameco (TSX: CCO) announced this morning that it has entered into a memorandum of understanding with GE Hitachi Nuclear Energy, GEH SMR Technologies Canada, and Synthos Green Energy. The collaboration aims to explore establishing a uranium fuel supply chain in Canada that could service a potential deployment of BWRX-300 small modular reactors in Poland.

“This MOU is a great example of the kind of innovative solutions businesses like Synthos Green Energy are exploring and how SMRs could contribute to industry-driven efforts to decarbonize,” said Cameco CEO Tim Gitzel.

Synthos Green Energy and GE Hitachi previously signed an agreement to collaborate on potential deployment applications for the BWRX-300 in Poland. On the other hand, Cameco also has a standing MOU with GE Hitachi and Global Nuclear Fuel-Americas for the commercialization and deployment of BWRX-300 small modular reactors in Canada and the world.

The BWRX-300 is a 300 MWe water-cooled small modular reactor that utilizes GE Hitachi’s Nuclear Regulatory Commission-certified economic simplified boiling water reactor design. The firm predicts that this new model will require less capital cost per MW produced compared to other small modular reactor designs.

“We look forward to working with Cameco and GEH in understanding the uranium requirements for a fleet of BWRX-300s in Poland and the support that Canada has to offer,” commented Synthos Green Energy Board President Rafał Kasprów.

Cameco last traded at $26.82 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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