Metal Powder Works (ASX:MPW) has signed a follow-on contract with Westinghouse Electric to further the two parties existing working relationship by implementing Westinghouse technology at 50% of Metal Powder’s operating nuclear plants.
The new contract intends to optimise parameters and powder performance through the production process for the nuclear sector, now extending until the end of 2025.
Through the existing contract, the two companies are focused on achieving Westinghouse’s goals to further develop and optimise the process of Metal Powder’s products, validating its technology.
Metal Powder Works Managing Director John Barnes says the follow-on contract builds on the relationship developed between the two companies to strengthen the DirectPowder process.
“The team continues to live up to our values of doing what we commit to do,” Barnes says.
“It signals confidence that we can meet the customer’s tight requirements and exceed the capability of legacy powder production methods.”
The International Energy Agency (IEA) forecasts the nuclear sector investments to rise to US$70 billion ($108.17 billion) per year by 2030, after reaching US$65 billion per annum earlier this year.
The IEA’s Path to a New Era for Nuclear Energy report states that the global nuclear capacity is currently on track to increase by over 50%, reaching almost 650 gigawatts by 2050.
Write to Maddison Elliott at Mining.com.au
Images: Metal Powder Works
