Yesterday (03 June 2025) in Rome, a ceremonial signing of the shareholders' agreement between Jadrová a vyraďovacia spoločnosť, a.s. (JAVYS, a.s.) and technology company newcleo, s.r.o. took place, resulting in the establishment of the joint venture Centre for the Development of Spent Nuclear Fuel Utilisation, a.s. (CVP). The signing of this agreement represents a breakthrough in the field of energy and technology in the Slovak Republic and also marks the country's entry into a new era of sustainable and innovative use of nuclear sources.
The signing ceremony took place in the presence of the Prime Minister of the Slovak Republic Robert Fico, Deputy Prime Minister and Minister of Economy of the Slovak Republic Denisa Sakova and the Italian Minister of the Environment and Energy Security Gilberto Pichetto Fratin. The participation of government representatives demonstrates the strategic importance of the project for both countries.
The Agreement was signed by representatives of company JAVYS, headed by the Chairman of the Board of Directors Peter Gerhart, and Stefano Buono, the CEO of newcleo.
Revolutionary technology with European relevance
The CVP Joint Venture will work on the development and deployment of the Generation IV Advanced Modular Lead Fast Reactor (LFR-AS-200). This innovative reactor technology, cooled by liquid lead and operating on the basis of fast neutrons, will enable the reuse and reprocessing of spent nuclear fuel. This will significantly reduce the volume of spent nuclear fuel and the radiotoxicity of radioactive waste. The exclusive use of spent nuclear fuel will reduce Slovakia's dependence on imports of fresh fuel.
The project envisages the construction of one to four LFR-AS-200 Units with a total capacity of 200 to 800 MW on site of the decommissioned V1 nuclear power plant in Jaslovske Bohunice. The first phase of the project, which is funded exclusively by company newcleo, is a Feasibility Study to be prepared over the next 12 months. Once this is completed, a feasibility decision will be adopted on the basis of expert opinions, which will confirm or not the overall technical and economic feasibility of the project, including its financing, conceptual design, time schedule and overall costs.
A strong partnership with a specific plan
"Slovakia has the potential to be a leader in the deployment of advanced nuclear technologies. This project represents a step towards energy security, technological development and a responsible approach to the management of spent nuclear fuel, which we want to reprocess and thus reduce our dependence on foreign sources of fuel," said Slovak Minister of Economy Denisa Sakova.
Peter Gerhart, Chairman of the Board of Directors of company JAVYS, a.s., added: “Our goal is to find a solution that will not only strengthen Slovakia´s energy position, but will also be a role model for the entire European region in the field of safe and efficient use of spent nuclear fuel.”
Stefano Buono, CEO of newcleo, emphasized: “Our cooperation with Slovakia is proof that Europe can work together on research, innovation and environmentally responsible solutions.”
Benefits for Slovakia
The Advanced Modular Reactor project will bring several major benefits to the Slovak Republic. The most important benefit is the possibility of reprocessing and reusing the spent nuclear fuel, while at the same time significantly reducing the volume and radiotoxicity of radioactive waste. Thereby Slovakia will be less dependent on the supply of fresh nuclear fuel, as spent fuel stocks can be efficiently reprocessed and reused in reactors.
Considering the long-term environmental safety, the resulting vitrified waste will represent a lower burden for later disposal, as it will contain radioisotopes with significantly shorter half-lives. The new nuclear builds will also contribute to the stability of the Slovak transmission system.
The Slovak Republic will gain a stable and long-term source of electricity. The project has the potential to significantly support domestic research and development in the field of nuclear energy and will enable the development of professional expertise in the Jaslovske Bohunice region. At the same time, it creates opportunities for Slovak companies that can be involved in the development, construction and operation of this innovative infrastructure.
Trust and long-term perspective
Company JAVYS, a.s. will hold 51% of CVP's shares and will also have managerial control over its operations. In the first phase, a comprehensive Feasibility Study will be developed. The contract contains a provision according to which the Slovak Republic is not obliged to proceed with the project if the Feasibility Study does not produce positive results. The subsequent phases include site preparation, construction of the non-nuclear and then nuclear parts, testing of the systems and operation of the reactors themselves.
The cooperation on the development of AMR reactors is proof that Slovakia is not afraid of innovations and is ready to be a leader in the sustainable nuclear economy of the future. As a result of this, Slovakia is one of the countries that are actively shaping the next generation of energy - safe, efficient and environmentally responsible.
