Congratulations to ClearPath’s advisory board member, Jeff Merrifield, on the Financial Times Award for innovation in fusionenergy. ClearPath is honored to work with you, Jeff!
1. ClearPath at COP28
L to R: Rich Powell (CEO, ClearPath); Nicholas Johnston (Publisher, Axios)
Photo Credit: Arthur Abraham/ Haiku D Photography on behalf of Axios
The ClearPath team kicked off their engagements at COP28 focused on three key themes:
Advanced nuclear power is poised for global deployment;
Carbon management has a significant role in addressing climate change; and
Conservatives are bringing their clean energy solutions to the global forum.
Among the events ClearPath is part of at COP28, a partnership with Axios brought together private sector executives from Microsoft and Svante to highlight carbon management technologies and investments.
L to R: Rich Powell (CEO, ClearPath); Maria Korsnick (CEO, Nuclear Energy Institute); Laura Lane (EVP & Chief Corporate Affairs and Sustainability Officer, UPS); Matt Stevenson (Chief Revenue Officer, Svante); Katherine Neebe (Chief Sustainability Officer, Duke Energy)
This weekend, ClearPath will join the Congressional Delegations to highlight permitting reform and other clean energy innovations.
Plug in: Check out our itinerary to track ClearPath’s participation at COP28.
2. New Senate bill for concrete and asphalt innovation
Sens. Thom Tillis (R-NC) and Chris Coons (D-DE) introduced the bipartisan Concrete and Asphalt Innovation Act (CAIA) of 2023 to strengthen U.S. supply chains and the competitiveness of American manufacturing by developing technologies to reduce emissions in the production of cement, concrete and asphalt.
Key provisions in the legislation include:
The first dedicated research, development and demonstration (RD&D) program to reduce concrete and asphalt emissions;
A five-year strategic plan to support RD&D activities and set timelines;
Leveraging existing Manufacturing USA institutes for low-emissions concrete and low-emissions asphalt; and
Authorization for a Federal Highway Administration grant program and an Advanced Purchase Commitment for low-carbon materials to de-risk investment and boost scale-up.
What’s clear: “Demand for lower emissions products is increasing across the globe, and the U.S. needs continued innovation to keep pace and ensure we are researching and deploying cutting-edge, innovative technologies to maintain a competitive advantage,” said Rich Powell, CEO of ClearPath Action.
3. Growing demand for U.S. nuclear technology abroad
This week at COP28, the UAE’s nuclear energy development organization, Emirates Nuclear Energy Corporation (ENEC), signed agreements with four U.S.-based nuclear innovation companies. These agreements with TerraPower, Westinghouse and GE Hitachi seek to explore the commercialization and global deployment of advanced nuclear technologies.
ENEC recently commissioned the Barakah Nuclear Power Plant, a 5GW plant providing a full quarter of the UAE’s power supply.
TerraPower is participating in the U.S. DOE Advanced Reactor Demonstration Program to construct a full-scale project this decade. The Westinghouse eVinci reactor received earlier stage support under the same program.
Senator Risch (R-ID) and Idaho National Lab Director John Wagner recently wrote about the need for U.S. global leadership on nuclear technology.
The Export-Import Bank announced a suite of financial tools to support U.S. reactor exporters.
What’s clear: Global markets for nuclear energy are opening up quickly. The 3x pledge signed at COP28 aims to accelerate the global deployment of these advanced nuclear technologies.
4. E&C Committee passes critical nuclear energy bills
The House Energy & Commerce Committee passed important nuclear energy bills this week to improve regulations and develop a domestic fuel supply for U.S. reactors. The bills passed by the Committee include:
The Nuclear Fuel Security Act would accelerate the domestic production of nuclear fuel and reduce reliance on Russian fuel by providing the required certainty to incentivize domestic industry to build new fuel manufacturing capacity.
The Atomic Energy Advancement Act combines 11 Subcommittee bills that aim to improve the Nuclear Regulatory Commission’s (NRC) efficiency.
What’s clear: “In order to achieve this ambitious goal at home, the U.S. will need to improve the licensing process and end its reliance on Russia for nuclear fuel. This legislation is an important step to solving these challenges,” said Rich Powell, CEO of ClearPath Action.
5. ClearPath in France
L to R: Todd Abrajano (President and CEO, USNIC); Natalie Houghtalen (Policy Advisor, ClearPath); and Dave Jones (Executive Director, USNIC)
Policy Advisor Natalie Houghtalen attended the World Nuclear Exhibition in Paris, France. There is a massive international market for new nuclear energy and for American innovators to be competitive, they must demonstrate their designs, secure access to HALEU and LEU fuel, and successfully navigate the export process.
6. ICYMI
The first two Holtec SMR-300 units are slated to be built at Michigan’s Palisades site by mid-2030.
The Clean Investment Monitor found that investment in clean energy production and industrial decarbonization reached $19 billion in Q3 this year.
That’s all from us. Thanks for reading and have a great weekend!
