The agreement is aimed at studying the application of Newcleo's Small Modular Lead-cooled Fast Reactor (SM-LFR) technology to provide zero-emission electricity and process heat to oil and gas offshore installations, thereby improving their sustainability performance.
The agreement also allows for the possibility of extending the use of Newcleo's technology to produce zero-emission electricity through floating nuclear units, connected to the electricity grid on land or to other users.
The collaboration involves the creation of a feasibility analysis on the possible development of prototypes of Newcleo's SM-LFR technology for offshore applications.
Saipem said its interest in nuclear energy is part of its technological development programme, dedicated to energy transition, with the aim of helping to achieve net-zero objectives by 2050. "Nuclear energy is, in fact, an energy source that can efficiently and sustainably support growing energy needs and ensure the diversification and security of energy supply," it said. "In this light, Saipem intends to evaluate the potential application of the new generation of compact reactors (SMRs) for offshore plants, to generate power and heat with very low climate-changing emissions, equal to those of renewable energies, and therefore with a high sustainability profile."
"The production of zero-emission energy through floating offshore plants equipped with new generation compact reactors could represent a new frontier in the energy transition," said Saipem CEO Alessandro Puliti. "With this collaboration agreement, we leverage Saipem's distinct skills in the offshore sector as well as our ability to bring innovation to the world of energy infrastructure, to explore new solutions that can accelerate the path towards decarbonisation."
Newcleo CEO Stefano Buono added: "Saipem is a global leader in the engineering and construction of large projects in the energy and infrastructure sectors, both offshore and onshore, and is an ideal partner for Newcleo, which aims to collaborate with the main players in the energy world to promote technological innovation for a sustainable future.
"Our next generation reactor technology will not only reduce the environmental impact of offshore oil and gas operations improving energy efficiency and promoting long-term sustainability, but also design offshore power plants that can provide decarbonised electricity onshore, anywhere in the world. This is the first agreement between two European companies for the offshore application of our sustainable nuclear technology and we are honoured to work with such a recognised partner."
Newcleo said its LFR AS-30 reactor design has been optimised over the last 20 years leading to the concept of an ultra-compact and transportable 200 MWe module with improvements in energy density compared with other technologies. Costs are kept low by means of simplicity, compactness, modularity, atmospheric pressure operation and elevated output temperature.
The first step of Newcleo's delivery roadmap will be the design and construction of the first-of-a-kind 30 MWe LFR to be deployed in France by 2030, followed by a 200 MWe commercial unit in the UK by 2033.
