Cameco Corporation announced its support for the resolution reached by Westinghouse Electric Company in its intellectual property dispute with Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power Co., Ltd. (KHNP). The settlement agreement establishes a framework for additional deployments of reactor technology.
Cameco President and CEO Tim Gitzel stated that this positive outcome facilitates bringing world-leading reactor technology and related competencies, including engineering, construction services, maintenance, fuel supply, and training, to the global market. This resolution is expected to strengthen the industry's capacity to provide carbon-free, reliable electricity.
The agreement is anticipated to expand Westinghouse's energy systems business into new markets, including the Czech Republic, where Westinghouse is involved in a construction project for two nuclear reactors at the Dukovany power plant. This resolution transforms the relationship with Korean partners into collaborators, offering substantial upside potential.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.