Westinghouse Resolves Technology Export Dispute With Korean Companies
Cameco (TSX: CCO; NYSE: CCJ) announces support for the resolution of an intellectual property dispute between Westinghouse Electric Company and Korean companies KEPCO and KHNP. The settlement agreement establishes a framework for additional deployments benefiting all parties involved.
Tim Gitzel, Cameco's President and CEO, emphasized this as a positive outcome that will help bring world-leading reactor technology and related competencies to the global market. He highlighted that over 30 countries and 100 companies have pledged to triple nuclear capacity by 2050, demonstrating strong demand for nuclear power as a carbon-free, reliable baseload electricity source to achieve climate, energy, and national security objectives.
Cameco (TSX: CCO; NYSE: CCJ) annuncia il supporto per la risoluzione di una controversia sulla proprietà intellettuale tra Westinghouse Electric Company e le aziende coreane KEPCO e KHNP. L'accordo di risoluzione stabilisce un quadro per ulteriori implementazioni che beneficeranno tutte le parti coinvolte.
Tim Gitzel, Presidente e CEO di Cameco, ha sottolineato questo risultato come positivo, che aiuterà a portare tecnologia per reattori all'avanguardia e competenze correlate sul mercato globale. Ha evidenziato che oltre 30 paesi e 100 aziende si sono impegnati a triplicare la capacità nucleare entro il 2050, dimostrando una forte domanda di energia nucleare come fonte di elettricità baseload affidabile e priva di carbonio per raggiungere obiettivi climatici, energetici e di sicurezza nazionale.
Cameco (TSX: CCO; NYSE: CCJ) anuncia su apoyo a la resolución de una disputa de propiedad intelectual entre Westinghouse Electric Company y las empresas coreanas KEPCO y KHNP. El acuerdo de conciliación establece un marco para futuras implementaciones que beneficiarán a todas las partes involucradas.
Tim Gitzel, Presidente y CEO de Cameco, enfatizó que esto es un resultado positivo que ayudará a llevar tecnología de reactores líder mundial y competencias relacionadas al mercado global. Destacó que más de 30 países y 100 empresas se han comprometido a triplicar la capacidad nuclear para 2050, lo que demuestra una fuerte demanda de energía nuclear como una fuente de electricidad confiable y libre de carbono para alcanzar objetivos climáticos, energéticos y de seguridad nacional.
Cameco (TSX: CCO; NYSE: CCJ)가 Westinghouse Electric Company와 한국 기업 KEPCO 및 KHNP 간의 지적 재산권 분쟁 해결을 지원한다고 발표했습니다. 이 합의는 관련된 모든 당사자에게 혜택을 주는 추가 배치를 위한 프레임워크를 설정합니다.
Tim Gitzel, Cameco의 사장 겸 CEO는, 이는 세계적 수준의 원자로 기술과 관련된 역량을 글로벌 시장에 가져오는 데 도움이 될 긍정적인 결과라고 강조했습니다. 그는 30개국 이상과 100개 이상의 기업이 2050년까지 원자력 용량을 3배로 늘릴 것을 다짐했으며, 이는 기후, 에너지 및 국가 안보 목표를 달성하기 위해 신뢰할 수 있는 기초 전력 공급원으로서의 원자력의 강력한 수요를 보여줍니다.
Cameco (TSX: CCO; NYSE: CCJ) annonce son soutien à la résolution d'un litige en matière de propriété intellectuelle entre Westinghouse Electric Company et les entreprises coréennes KEPCO et KHNP. L'accord de règlement établit un cadre pour des déploiements supplémentaires bénéficiant à toutes les parties concernées.
Tim Gitzel, Président-directeur général de Cameco, a souligné que c'est un résultat positif qui aidera à apporter des technologies de réaction de pointe et des compétences connexes sur le marché mondial. Il a mis en avant que plus de 30 pays et 100 entreprises se sont engagés à tripler la capacité nucléaire d'ici 2050, ce qui démontre une forte demande pour l'énergie nucléaire en tant que source d'électricité de base fiable et sans carbone pour atteindre des objectifs environnementaux, énergétiques et de sécurité nationale.
Cameco (TSX: CCO; NYSE: CCJ) kündigt seine Unterstützung für die Lösung eines Streits über geistiges Eigentum zwischen Westinghouse Electric Company und den südkoreanischen Unternehmen KEPCO und KHNP an. Die Einigungsvereinbarung schafft einen Rahmen für zusätzliche Implementierungen, die allen beteiligten Parteien zugutekommen.
Tim Gitzel, Präsident und CEO von Cameco, betonte dies als ein positives Ergebnis, das helfen wird, weltweit führende Reaktortechnologie und verwandte Kompetenzen auf den globalen Markt zu bringen. Er hob hervor, dass über 30 Länder und 100 Unternehmen sich verpflichtet haben, die Kernkraftkapazität bis 2050 zu verdreifachen, was eine starke Nachfrage nach Kernenergie als kohlenstofffreie, zuverlässige Grundlaststromquelle zur Erreichung von Klima-, Energie- und nationalen Sicherheitszielen zeigt.
- Resolution of intellectual property dispute enables global market expansion
- Settlement agreement creates framework for additional business deployments
- Aligned with global nuclear capacity expansion plans (30+ countries pledging to triple capacity by 2050)
- None.
Insights
The settlement between Westinghouse and Korean nuclear giants KEPCO/KHNP represents a important development for the global nuclear industry's supply chain and market dynamics. This resolution removes a significant barrier to international nuclear technology deployment, particularly important given the ambitious COP28 nuclear pledge to triple capacity by 2050.
The agreement's strategic timing aligns with surging global nuclear demand, potentially accelerating reactor deployments and uranium fuel requirements. For Cameco, as a leading uranium producer, this translates to enhanced market opportunities through increased fuel demand for both AP1000 and Korean reactor designs. The collaboration framework suggests streamlined licensing processes and reduced regulatory hurdles for new nuclear projects.
The resolution particularly strengthens the Western nuclear supply chain's competitiveness against Russian and Chinese alternatives. For context, this settlement enables more efficient technology sharing and potentially reduces construction costs through optimized supply chains - critical factors for nuclear project economics.
This intellectual property resolution carries broader implications for the global energy transition strategy. The agreement creates a more collaborative environment between Western and Asian nuclear technology providers, essential for meeting the ambitious nuclear capacity tripling targets by 2050.
The market impact extends beyond immediate reactor deployments - it signals stronger international cooperation in the nuclear sector, potentially leading to standardized designs and more cost-effective construction methods. This could accelerate nuclear power's role in baseload clean energy provision, particularly important as countries face increasing pressure to decarbonize while maintaining grid reliability.
The settlement's timing is especially relevant given the current geopolitical emphasis on energy security and the shift away from Russian nuclear technology dependence. This positions both Westinghouse and Korean nuclear technologies more favorably in upcoming international nuclear tenders, potentially expanding their market share in the projected
“This is a positive outcome for both parties, which we believe facilitates bringing world-leading reactor technology and related competencies in engineering, construction services, maintenance, fuel supply, and training to the global market,” said Tim Gitzel, Cameco’s President and Chief Executive Officer. “With more than 30 countries and over 100 companies pledging to triple nuclear capacity by 2050, the demand for nuclear power is undeniable. This agreement strengthens the industry’s ability to provide carbon-free, reliable, dispatchable baseload electricity to help achieve climate, energy and national security objectives.”
Implementation of the settlement agreement that resolves the dispute establishes a framework for additional deployments to the mutual benefit of Westinghouse, KEPCO and KHNP.
Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: our belief that the resolution of the dispute will facilitate bringing technology and related competencies to the global market; our views regarding the demand for nuclear power; our view that the agreement will strengthen the industry’s ability to achieve certain objectives; and our expectation that implementation of the agreement establishes a framework for mutually beneficial additional deployments. Material risks that could lead to different results include the risk that the agreement will not have the expected implications for the global market or strengthen the industry’s ability to achieve its objectives, and the risk that additional mutually beneficial deployments may not occur. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about the implications of the agreement for the global market and the industry’s ability to achieve its objectives, and the potential for mutually beneficial additional deployments. Forward-looking information is designed to help you understand management’s current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250116040462/en/
Investor inquiries:
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
Source: Cameco
FAQ
What is the significance of Westinghouse's settlement with Korean companies for Cameco (CCJ)?
How many countries have pledged to triple nuclear capacity according to Cameco (CCJ)?
What are the key benefits of the Westinghouse-Korean settlement for CCJ shareholders?
How does the 2023 Westinghouse settlement align with CCJ's market expansion strategy?
