K-TIG partners up with UK nuclear authority as it looks to tap a ‘$US1 trillion’ market opportunity
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Special Report: The company’s agreement with the UK’s Nuclear AMRC has been years in the making and leaves it well positioned for further growth in nuclear research and decommissioning.
Advanced manufacturer K-TIG (ASX:KTG) has taken another key step forward in its strategic push to build a global demand pipeline for its high-speed welding service.
The company announced today that it’s become a member of the UK’s Nuclear Advanced Manufacturing Research Centre (AMRC) – a collaborative body backed by government, industry and academia.
The Nuclear AMRC occupies an important position within the UK nuclear sector, which is in the process of decommissioning legacy operations. It consults organisations in the space to optimise safety and efficiency in the decommissioning process.
And K-TIG fits directly within that broader trend, having established proof-of-concept for its high-speed welding technology to meet safety and quality standards in the construction of nuclear containers – a critical function in the decommissioning process.
In that context, it’s a natural partner for the Nuclear AMRC and its membership is the by-product of a multi-year cooperative relationship.
As a result, the Nuclear AMRC is already using a K-TIG welding system as part of its research work and will soon have that upgraded to the latest version.
The company’s technology has also been deployed in the construction of existing fabricators in the US and UK, some of which are already storing nuclear materials.
So it’s not surprising that the company has the opportunity to develop commercial pathways, amid recent forecasts from the Atomic Energy Agency which estimate that “$US1 trillion will be spent on nuclear decommissioning through to 2050”, K-TIG said.
With its strong ties in the sector, K-TIG is now positioned to be at the forefront of research and technology in a sector now expected to have far-reaching impacts for economic growth and employment.
Nuclear AMRC commercial director Sean Eley said he was “delighted” to welcome K-TIG aboard as an industry member.
“As a key partner to the UK nuclear industry, our engineers are tackling a wide variety of challenges in decommissioning. Some of the biggest challenges are in the cost -effective manufacture of waste containers, of which we’ll need tens of thousands as we decommission the UK’s legacy sites,” Eley said.
“K-TIG’s keyhole welding technology has already proven to be extremely effective in nuclear waste container fabrication, and we look forward to working collaboratively to further expand these capabilities through a long and mutually beneficial industry partnership.”