Swedish nuclear technology company Studsvik said a deal inked Monday should open the door for deployment of its fluid bed steam reforming (FBSR) radioactive waste treatment system at multiple nuclear power plants in China.
A new framework agreement gives Beijing Dynatech Co. the exclusive license to employ the technology in the nation, according to a Studsvik press release. The company said it would receive a $2.5 million royalty payment for allowing Dynatech access to the system, with further payments anticipated as FBSR plants are built in China. “It is estimated that several FBSR treatment plants will be necessary to meet the needs of the Chinese market,” the release says.
The agreement calls for Studsvik to provide design, engineering, and consulting assistance to Dynatech during the technology-transfer process.
Studsvik on Friday issued its interim earnings report for the second quarter of 2017, showing a steep increase in its operating loss for the three-month period.
Sales were almost even on a year-over-year basis, rising from 176.3 million Swedish krona ($21.47 million) in second-quarter 2016 to 176.6 million krona ($21.51 million) this year. But the company sustained a 19.4 million-krona ($2.4 million) operating loss in its latest quarter, compared to a 1.2 million-krona ($146,142) loss last year.
“The deterioration is mainly due to weak capacity utilization in the German consulting operations and to no new sales of the THOR technology being made,” according to the earnings report.
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