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The FINUELS project creates a competitive and internationally renowned nuclear energy ecosystem which provides the industry’s expertise to the international market and develops industry-wide innovation activities. The aim is also to systematically expand the ecosystem and build its international dimension.

Over the next two years, the ecosystem will develop business and industry expertise around the three business areas of the nuclear energy sector, namely lifecycle management, decommissioning and nuclear waste management. In addition, efforts are being made to activate Finnish companies to participate in international fusion technology-related projects through Industrial Liaison Officer (ILO) activities. In order to actualize the work, roadmaps are created at the beginning of the project for different areas to develop business and competence.

The ecosystem is orchestrated by the Finnish nuclear energy industrial association, FinNuclear, which facilitates cooperation between the actors of the project and handles project and stakeholder communications. Business partners of the project at the time of establishment are AFRY, AINS, Astrock, Clenercon, Envirocase, GTK, Konecranes, Plansor, Rockplan, Telatek Service, TVO Nuclear Service and VTT. They act as project financiers together with Business Finland and FinNuclear ry.

Further information: Megumi Asano-Ulmonen, megumi.asano-ulmonen@finnuclear.fi, tel. +358 44 710 2061

Why an ecosystem?

Combating climate change highlights the profile of nuclear power as one of the major low-carbon energy sources in the world, and many countries are shifting their electricity and heat production towards more carbon-neutral alternatives. For this reason, many countries are planning to extend the life of existing nuclear power plants and to build new plants for electricity generation.

In addition, end-of-life activities, such as decommissioning and waste management, must be performed responsibly. A number of nuclear facilities and research reactors have reached or are nearing the end of their service life, and the operation of more than a hundred nuclear power plant units has already ceased. For the sake of progress and acceptability of nuclear power projects, it is crucial that the nuclear waste management is well planned and implemented.The management of low and intermediate level waste is also an integral part of the power plant’s in-service operations. However, there are still many countries where nuclear waste management plans have not been made and waste disposal has not been resolved.

The above-mentioned areas involve large entities over a long period of time and billions of euros in business potential, which implies that there are plenty of business opportunities for different actors. This provides an excellent opportunity for Finnish businesses to offer their products and services, as Finland is considered an international pioneer in many of the above-mentioned areas of nuclear energy use. Not only undertaking new nuclear power plant projects, Finland’s operating reactor performance is constantly very high, the operation licences of existing units have been extended, and the decommissioning of a research reactor in Otaniemi is progressing. The treatment of low and intermediate level waste generated during the use of nuclear power is managed responsibly, and Finland is currently the pioneer in the spent nuclear fuel disposal.

Although Finnish companies have accumulated their expertise extensively over the decades of using nuclear energy, it is currently fragmented into different companies. With the formation of the ecosystem, this know-how is combined into entities and the necessary areas of development are also identified. This will provide the international market with competitive services and products in the field of nuclear energy now and in the future.

Associated ecosystems

dECOmm is about high market potential, digital solutions and co-innovation activities

Small modular reactors are an emerging market for the nuclear industry offering low-carbon solutions.

Open community for all Finnish players in fusion energy business, technology and science.

Partnering organisations

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As the project orchestrator, FinNuclear facilitates cooperation between the actors of the project and handles project and stakeholder communications.

Business Finland has granted supplementary funding to this project as a part of Smart Energy Finland program.