Danieli and newcleo Explore Nuclear-Powered Steel Production
MILAN (Reuters) - Danieli, an Italian group that builds iron and steel making plants, and newcleo said on Monday they signed a memorandum of understanding to explore the integration of the nuclear firm's small advanced reactor technology into steel-making.
WHY IT'S IMPORTANT
The agreement laid the basis to help decarbonise steel production through combined electricity and heat coming from nuclear energy, the two groups said in a joint statement.
Newcleo is working to develop advanced modular reactors powered by re-processed nuclear waste, a technology that aims to reduce the costs and the risks stemming from atomic waste handling.
KEY QUOTE
"Our objective through this collaboration is to provide steel manufacturers with economically viable solutions for the production of green steel," said newcleo founder and Chief Executive Stefano Buono.
(Writing by Francesca Landini; editing by Keith Weir)