CIMC ENRIC wins the largest-ever single export order for nuclear fuel transport containers to Europe

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Jul 27, 2022, 22:28 ET

Expands the market segment

Contributes to nuclear energy development

SHENZHEN, China, July 27, 2022 /PRNewswire/ -- CIMC Enric Holdings Limited ("CIMC Enric" or "the Company") together with its subsidiaries (the "Group") (Stock Code: 3899.HK) is pleased to announce that Nantong CIMC Energy Equipment Co., Ltd ("Nantong Energy"), a subsidiary of the Company, has successfully won an order for 3,000 storage and transport containers for uranium hexafluoride from a European customer. This order is the largest single order that CIMC Enric has received in the nuclear fuel transport container business to date, it also set a new record for the international nuclear fuel transport container industry.

Natural uranium hexafluoride is used to produce enriched uranium, a key material in the manufacture of nuclear fuels components. With the nuclear industry developing both domestically and internationally, the need to transport natural uranium hexafluoride is increasing. As early as 2011, Nantong Energy leveraging its comprehensive strength and rich market experience, applied for and successfully obtained a "Civil Nuclear Safety Equipment Manufacturing License" issued by the National Nuclear Safety Administration, with the relevant nuclear-grade equipment manufacturing qualification and capabilities. In 2015, Nantong Energy actively partnered with several renowned domestic design institutes to develop AP1000 new fuel transport containers. By independently mastering the core technology for new fuel transport containers, Nantong Energy broke the monopoly of foreign companies and has now successfully entered the international market.

Currently, CIMC Enric provides two main types of nuclear power equipment: components for nuclear power stations and containers for nuclear fuel storage and transport. With its world-leading manufacturing technology, CIMC Enric has successfully delivered equipment to hundreds of nuclear power stations and thousands of nuclear fuel transport containers. CIMC Enric is now a major global supplier of uranium hexafluoride storage and transport containers.

Influenced by factors such as the spread of Coronavirus, extreme weather conditions and geopolitical tensions, the global energy market has experienced severe shocks, triggering energy security problems in several countries. Against this background, the EU, the UK and South Korea are giving positive signals about restarting or accelerating the development of nuclear power. On 6 July, the European Parliament voted to keep nuclear energy and natural gas in its Green Energy Taxonomy. Nuclear power in Europe is quite mature, according to Eurostat 2022 data, 13 EU member states, including France and Germany, have nuclear power stations, and nuclear power generates around 25% of the EU's total electricity output.

Mr. Yang Xiaohu, Executive Director and General Manager of CIMC Enric, said, "Increasing demand for global carbon neutrality and energy security is creating new opportunities to develop nuclear energy. Nuclear storage and transport equipment is also expected to see a new round of expansion. Being awarded this European contract, the largest-ever single order for nuclear fuel transport demonstrates CIMC Enric's dominant position and international market recognition. The Company will continue to develop into a world-class provider of total solutions for clean energy equipment through a "dual circulation" of international and domestic markets, based on the manufacture of high-end energy equipment."

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