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- Canadian and American utilities are allowing $0.001 per kilowatt-hour to finance long-term spent fuel disposal. This money in Canada is “managed” by NWMO, created in 2002 under Energy and Resources Canada. In the US, these are managed by OCRWM, under the Department of Energy. Other countries are also allowing significant funding for long term “storage” or “disposal”, Sweden, Finland, France and Germany leading the way to a mid-term solution.
- Each nuclear power plant produces tons of high level spent fuel each year, either from natural or enriched uranium.
- Annual world production of spent fuel is over 12,000 tons. American & Canadian utilities have budgeted over $30 billion so far for disposal of spent fuel.
- Over a hundred thousand tons of spent fuel is awaiting long-term storage worldwide.
- The safety of the underground storage concept has been demonstrated; it is under implementation in Sweden (SKB).
- Securad provides a solution for the disposition of used nuclear fuel that presents a far lower environmental risk compared to short or medium term wet or dry storage solutions.
- The unresolved issue of spent fuel creates uncertainty that is harming the funding and construction of new nuclear plants.
- Climate change has shifted the paradigm around nuclear power; environmentalists now support new nuclear plants because they will reduce the production of emissions caused by the burning of fossil fuels.
- Decisional gridlock at the political level has created a market opportunity for a private venture to implement a solution.
- Spent fuel must be secured from potential terrorist attacks, earthquakes, other accidents or rogue nations who could use it for weapons production.
- The Securad solution has numerous advantages over other options.
- Stable geology with minimal tectonic activity over a massive area.
- Controllability of water circulation at operating depth.
- Location downwind of populated areas of North America.
- Access by sea and deep harbor facilities.
- Shorter transport distances from nuclear plants.
- Near zero human and animal population or vegetation in the designated area.
- Implementability of high security standard in the area.
- Involvement of inhabitants, natives and new residents.
- Several alternate sites suitable for repositories in different provincial jurisdictions.
- Environmental sensivity is Securad's highest priority.
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