Uranium: A Complimentary Solution to the Renewable Energy Crisis

Uranium, an element of immense significance, finds essential applications across various critical fields. It serves as the fuel for nuclear power stations, playing a pivotal role in generating electricity on a large scale. Additionally, the military harnesses uranium in nuclear weapons and submarines, highlighting its strategic importance. Moreover, depleted uranium finds practical use as ship ballast, aircraft counterweights, armor, and ammunition, showcasing its versatility and durability. Furthermore, uranium contributes to the field of medicine, where it is employed as a diagnostic tool and in X-ray devices, underscoring its value in healthcare technology. The diverse applications of uranium highlight its crucial role in powering energy, defence, and medical sectors.

Five year price chart

Uranium – Solving the Renewable Energy Crisis

  • US energy department advances $6bn nuclear plan to stimulate struggling plants on 14th February 2022[2]
  • USA allocated $2bn to develop new reactors (SMR’s)[3]
  • “International Nuclear Energy Act of 2022” passed in April 2022 to make US global leader in Nuclear Energy
  • Nuclear classified as environmentally sustainable under EU Taxonomy on 22nd March 2022
  • Nuclear provides 25% of EU’s energy[4]
  • Recent sanctions on Russian energy provides Nuclear as an immediate  sustainable alternative to Russian O&G dependence
  • U.K to put “Nuclear at the heart of green energy strategy” amid rising gas prices

([1]U.S Department of Energy, Nuclear Energy Institute
[2] The Guardian, Biden launches $6bn effort to save America’s distressed nuclear plants
[3] World Nuclear Organisation, USA Nuclear Power Policy
[4] Eurostat, 25% of EU electricity production from nuclear sources