As we welcome the new year, we reflect on the significant advancements in the nuclear industry and Last Energy's progress over this past year.
In the last few years, the world has witnessed the geopolitical complexities surrounding traditional energy sources. In 2023 the crucial role that nuclear plays in fostering stability and promoting energy independence gained unprecedented recognition.
The rising wave of international support for scaling up the use of nuclear power to achieve local and global climate goals became clear across the world. Poland updated their strategy to significantly incorporate nuclear as part of their energy mix in their Energy Strategy by 2040 (PEP2024). The United Kingdom launched Great British Nuclear, and the United States Department of Energy expanded the Bipartisan Infrastructure Law’s Civil Nuclear Credit Program, showing urgency to integrate nuclear as a premier solution to supply clean, baseload power.
Government investment like these, as well as commitments from industry and private entities to reduce carbon emissions through nuclear energy, took center stage during COP28’s Net Zero Nuclear Summit, where government, business leaders, and other key stakeholders came together to publicly commit to tripling global nuclear capacity by 2050.
In conjunction with over 20 countries from four continents signing a Ministerial Declaration to triple nuclear energy capacity by 2050, Last Energy joined 120 other companies to pledge support for the acceleration of nuclear deployment by 2050.
As a signer, we agreed to support efforts to triple global nuclear capacity by 2050 and, more specifically, pledge to “work with governments, regulators, and other stakeholders to maximize the contribution from existing operating nuclear power plants and accelerate the pace of new nuclear deployment in a safe, responsible and secure manner, to achieve the goal of at least tripling nuclear energy capacity by 2050.”
Coming together to decarbonize global energy output, 2023 has been an incredible year for the nuclear industry.
In addition to the exceptional strides that the nuclear industry has seen, 2023 has been a remarkable year of progress for Last Energy. See some of our top highlights as we wrap up the year and head into a promising 2024.
Last Energy participated in Nuclear Week in Parliament, hosted by the Nuclear Industry Association, which brought together key stakeholders to promote the opportunities that nuclear energy presents to drive forward the UK nuclear industry.
Our CEO, Bret Kugelmass, took center stage at SXSW, presenting the session “Nuclear Power: Our Most Valuable Climate Solution.” The presentation was followed by an in-depth Q&A from Huffington Post energy reporter, Alexander Kaufman, as well as an engaging discussion with the audience.
Last Energy secured agreements that represented the largest pipeline of new nuclear power plants under development in the world, with deals worth $19 billion to build 10 PWR-20 units in Poland and 24 units in the United Kingdom.
Our team hosted key government delegations and stakeholders at our Technology Expo, where we presented our technology, gave tours of our Texas manufacturing facility and demonstration model, and showcased our nuclear steam supply system (NSSS) module.
Last Energy joined the Net Zero Nuclear Corporate Partnership and pledged to support efforts to triple global nuclear capacity by 2050. This was part of our Road to COP28, hosted by the Net Zero Nuclear Initiative.
We partnered with Energoinstal, a Polish-based manufacturing facility, to fabricate a full-scale prototype of our nuclear steam supply system (NSSS) module in just five weeks. Learn more about how our modular design and leveraging off-the-shelf components helped us achieve rapid fabrication here.
We showcased our NSSS prototype to key government and industrial stakeholders at the Polish Investment and Trade Agency (PAIH) Business Forum—which supports the expansion of foreign direct investment into Poland—as well as participated in panel discussions, highlighting the importance of manufacturability and leveraging local supply chains for new nuclear builds.
Last Energy was featured in Nuclear Engineering International as a “solution to large energy users with high demand,” authored by Member of Parliament (MP) Charlotte Nichols. The article stated that successfully leveraging micro-nuclear reactor technology “would help tackle both the climate and energy price crises for the British public and industry alike once and for all.” Read the full article here.
We spoke on several key panels at the Net Zero Nuclear Summit during COP28—where government heads, business leaders, policy makers, NGOs, activists, and other stakeholders met to discuss nuclear’s imperative role in addressing climate change. This culminated in the signing of the Net Zero Nuclear Industry Pledge as well the Nuclear Ministerial Declaration, both committing to the goal of tripling nuclear capacity by 2050.
The need to transition towards reliable, affordable, and low-carbon energy solutions has never been more urgent. In order to achieve this energy transition, Last Energy brings the energy-as-a-service model to the nuclear sector—streamlining the delivery of reliable baseload electricity and heat—by taking end-to-end responsibility for all deployment activities from product design to operations and maintenance.
We look forward to building upon this momentum in 2024 as we continue to champion nuclear energy's pivotal role in addressing the global climate crisis and increasing access to energy worldwide.
On the road to The United Nations (UN) Annual Climate Conference, which brings together world leaders, ministers, and negotiators to agree on how to address climate change, Net Zero Nuclear worked through strategic engagement at key events around the world culminating with an “unprecedented nuclear prominence” at COP28.
Financing nuclear projects to compete in the free market