Good morning. Today we see a push for decentralized power in the US and a critical reminder that the reactors are only as good as the fuel that feeds them.

Top Story: The Campus Reactor

In a significant shift toward decentralized nuclear power, an application has been lodged to build a microreactor at a US university. This move signals a growing appetite for utilizing nuclear energy not just for grid-scale electricity, but for specialized research and industrial heat directly on-site. It marks a transition from the 'gigawatt era' toward a more modular, application-specific deployment of nuclear technology.

In Brief

• US Fuel Security: ConverDyn is considering the construction of a "Metropolis 2.0" plant, aiming to expand US conversion capacity and secure the domestic fuel supply chain.
• Japan's Recovery: Kashiwazaki-Kariwa 6 has resumed commercial operation, representing a vital milestone in Japan's gradual and complex return to nuclear power.
• Cost Control in Bulgaria: The Bulgarian minister is pushing for fixed-price contracts for Kozloduy 7 and 8, seeking to eliminate the cost overruns that have plagued recent global new-build projects.
• Fuel Cycle Warning: Industry leaders are calling for a growing recognition of the nuclear fuel cycle's importance, warning that supply chain gaps could hinder long-term energy security.
• Canadian Innovation: Canada's CNL is moving forward with the production of demonstration ANEEL fuel bundles, advancing the state of advanced fuel deployment.
• Knowledge Transfer: Bruce Power is sharing its extensive large-reactor operational experience with SaskPower to support nuclear expansion in Saskatchewan.

One Thing to Know: The Fuel Cycle Bottleneck

While much of the public discourse focuses on SMRs and fusion, today's news highlights a quieter but more urgent crisis: the fuel cycle. From ConverDyn's expansion plans to the broader industry warnings, it is becoming clear that the fuel supply chain is the potential Achilles' heel of the nuclear renaissance. Without scaled conversion and enrichment capacity, the next generation of reactors will be blueprints without fuel.

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