Studsvik and Beijing DYNATECH Co. Ltd. sign Framework Agreement to supply Studsvik’s Fluid Bed Steam Reforming Technology to China
Studsvik and Beijing DYNATECH Co., Ltd. (DYNATECH) executed a Framework Agreement today under which DYNATECH will supply Studsvik’s newest proprietary fluid bed steam reforming (FBSR) process for the treatment of radioactive waste to the Chinese nuclear power industry.
Under the terms of the Framework Agreement, DYNATECH is granted the exclusive license to practice the FBSR process in China. Studsvik will receive an initial royalty payment in 2017 of USD 2.5 million from DYNATECH for access to its FBSR technology. Subsequent royalties will be paid when facilities are constructed. It is estimated that several FBSR treatment plants will be necessary to meet the needs of the Chinese market.
Studsvik will support the successful deployment of the FBSR process by providing design, engineering and consulting services to DYNATECH during a defined period of technology transfer between the two companies.
“Studsvik is pleased to work with DYNATECH to make its newest innovations in waste treatment available to the Chinese nuclear market. Studsvik’s new FBSR process represents the latest invention in Studsvik’s long and distinguished portfolio of waste treatment technologies. It demonstrates Studsvik’s ongoing commitment to developing the best waste treatment solutions with the greatest value to meet the needs of its customers in China and throughout the world,” said Studsvik CEO Michael Mononen.
“It is a great honor that DYNATECH and Studsvik achieved this cooperation. Studsvik has rich experience and technology in the nuclear industry, and offers a wide range of applications in the fuel cycle, metal materials, nuclear decommissioning, and radioactive waste treatment. Our cooperation will open the Chinese market and allow DYNATECH to introduce Studsvik’s latest proven FBSR technology. With the continued growth of the nuclear industry in China, waste reduction and treatment is a high priority. DYNATECH is committed to develop the market with our partners, to support the continuous development of the Chinese nuclear industry.” said Mr. Liu Yang, President of DYNATECH.
For further information, please contact:
Michael Mononen, President and Chief Executive Officer,
+46 155 22 10 86 or
Pål Jarness, Chief Financial Officer, +46 155 22 10 09.
Facts about Studsvik
Studsvik offers a range of advanced technical services to the global nuclear power industry. Studsvik’s business focus areas are fuel and materials technology, reactor analysis software and consultancy services within waste treatment technology, decommissioning, NORM and solutions for final disposal. The company has 70 years nuclear technology and radiological service experience. Studsvik has 700 employees in 7 countries and the company’s shares are listed on the Nasdaq Stockholm.
This information is information that Studsvik AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact persons above, onJuly 24, 2017, at 8:30 am (CEST).