Category Archives: Allied Nuclear

  1. Small modular reactors are the future, IP3 tells Forbes

    The Biden administration is expected to continue the bipartisan strategy of accelerating the export of U.S. nuclear energy technology to overseas markets. Forbes reports that small modular reactors (SMRs) could hold the key for export success.

    In the Forbes INTERVIEW, IP3 and Allied Nuclear CEO Michael Hewitt said the future of nuclear energy development is SMRs:

    “I think the days of building large nuclear power plants are really in the past. Hitachi walked away from a major UK power plant project after spending $2 billion. Where does that leave us? SMRs.”

    A subsidiary of IP3, Allied Nuclear advises governments in procuring nuclear technology and tailored financing; and with starting national nuclear energy programs.

    “Once they’re at production, they can compete internationally,” Hewitt said of SMRs.

    “Instead of constructing [SMRs], you’re assembling [them on site in country],” Hewitt said. “It’s a repetitive model” that gives investors a better handle on cost and cost overruns, he said.

    The advent of SMRs opens up new market opportunities at home and abroad for nuclear energy developers. SMRs offer unique, tailor-made solutions to countries’ energy needs while cutting construction costs. As a cheaper, smaller and scalable alternative to larger light water reactors, SMRs also help sovereign governments avoid falling for the lure of “debt-trap” boondoggles built by Russia and China.

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  2. Allied Nuclear debuts in Forbes interview

    IP3’s new enterprise Allied Nuclear made its media debut in Forbes on Aug. 7.

    IP3’s founders formed Allied Nuclear because they saw a growing need to unlock the value of cooperation among U.S. and allied companies along the civilian nuclear supply chain.

    Allied Nuclear helps IP3 separate their security business and creates a special purpose entity for companies to align their resources around specific nuclear energy projects. This ensures a private sector-led financing strategy and lays the groundwork for the formation of a fund to support infrastructure development programs.

    In the Forbes interview, Allied Nuclear and IP3 CEO Michael Hewitt gave insights into nuclear energy development trends in the world market and recent pro-nuclear moves by the Administration:

    “U.S. allies and developing countries want clean energy but they also want energy security; nuclear energy offers both,” Hewitt said. “But these countries are taken advantage of by China and Russia with all-encompassing and heavily-subsidized power plant offers that come with insidious ‘build-own-operate’ terms and predatory financing.”

    Hewitt said Allied Nuclear has developed an approach that allows the U.S. and its allies to compete against adversary state-owned competitors by leading with the strengths of the U.S. industry while addressing the disadvantages of other vendors in the nuclear energy supply chain.

    Hewitt said his company wants to help global allies “stay clear of ‘debt traps’ and national security risks posed by China’s Belt and Road Initiative investments.”

    “Infrastructure development and energy security should not come at the expense of a country’s national sovereignty or financial interest,” Hewitt said.

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