Studsvik signs license agreement with Dongguk Nuclear Solution for the development of waste treatment using inDRUM in South Korea
Studsvik has signed a Technology License Agreement with Dongguk Nuclear Solution, to provide engineering services to support an establishment of an inDRUM in South Korea for radioactive waste treatment based on Studsvik's efficient technology. This is a long-term agreement, built on performance and milestones.
The agreement gives Studsvik an initial license earning of 3 MSEK, followed by milestones giving additional revenues of about 30 MSEK over a period of 3-5 years. The customer has the right to exit the agreement if the milestones cannot be achieved. If inDRUM is successfully established, Studsvik has, when production starts, additional earnings potential.
Studsvik's Waste Management Technology business area offers efficient technology solutions for treating contaminated waste arising from operational and decommissioning activities. The inDRUM technology results in an end product which is volume reduced and suitable for radioactive waste disposal.
"The Technology License Agreement is a breakthrough for our patented inDRUM technology, which can be applied on many types of radioactive waste on the international market.", says Camilla Hoflund, President and CEO.
For further information, please contact:
Camilla Hoflund, President and CEO of Studsvik - camilla.hoflund@studsvik.com,
+46 76 002 10 66
Facts about Studsvik
Studsvik offers a range of advanced technical services to the global nuclear power industry. Studsvik’s focus areas are fuel and materials technology, reactor analysis software and fuel optimization, decommissioning and radiation protection services as well as technical solutions for handling, conditioning and volume reduction of radioactive waste. The company has more than 75 years’ experience of nuclear technology and radiological services. Studsvik has 520 employees in 7 countries and the company’s shares are listed on Nasdaq Stockholm.