Saipem and newcleo sign the first agreement between European companies to study offshore applications of newcleo's sustainable nuclear technology

The objective of this agreement is to study the application of newcleo’s SM-LFR technology

The two companies have signed a collaboration agreement to identify innovative solutions for the offshore application of newcleo’s nuclear technology to produce zero-emission electricity. The agreement includes a feasibility study on the development of floating nuclear prototypes. The objective of this agreement is to study 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, Saipem said.

The collaboration between the two companies, which will combine their skills, experience and knowledge, involves the creation of a feasibility analysis on the possible development of prototypes of newcleo’s SM-LFR technology for offshore applications. newcleo’s solution employs one of the most promising technologies in the field of small nuclear fission reactors. newcleo’s technology leverages passive security systems (i.e. exploiting natural forces or phenomena without requiring active mechanisms), unique in the marine environment, enabling much greater efficiency in the use of extracted uranium compared to other types of conventional fission reactors. This is thanks to the reuse of spent nuclear fuel used by other reactors, in line with the principles of the circular economy.

Saipem’s 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. In this light, Saipem intends to evaluate, the potential application of the new generation of compact reactors (Small Modular Reactors – SMR) 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.

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has seven fabrication yards, an offshore fleet of 21 construction vessels (of which 17 are owned and four are owned by third parties and managed by Saipem), and 15 drilling rigs (of which nine are owned). Saipem is present in more than 50 countries around the world and employs about 30,000 people from over 120 countries.