NAC International Completes Nuclear Fuel Cycle Study for Athlos Energy

Independent assessment examines fuel requirements, supply security, costs, and spent fuel management for a potential nuclear power program in Greece

PEACHTREE CORNERS, Ga. – NAC International Inc. (NAC) has completed a global nuclear fuel cycle assessment for Athlos Energy G.P. The study examines fuel supply and spent fuel management for a potential nuclear power program in Greece, supporting informed discussion among policymakers, investors, and technical stakeholders.

Covering illustrative light water reactor scenarios from 300 MWe to 4,800 MWe, the study addresses the full fuel cycle—from uranium supply through spent fuel management and disposal—as well as safeguards. It reviews large light water reactors, small modular reactors, and advanced reactor concepts.

For an illustrative 1,200 MWe plant at a 90% load factor, the study estimates annual generation of approximately 9.5 TWh, enriched uranium product requirements of approximately 18.9 metric tons, and fuel procurement and fabrication costs of approximately EUR 82.3 million. Costs reflect January 2026 component prices and the report’s assumptions.

The report estimates that 2,000 to 3,000 MWe of nuclear capacity in Greece would represent approximately 1% of current global nuclear electricity production and corresponding fuel requirements. It concludes that international markets should accommodate these needs, with early planning, long-term contracts, and diversified supply supporting continuity and security.

Recommendations include choosing reactor technologies with established fuel supply chains, engaging suppliers early, maintaining reserve fresh fuel, and preserving the technical information and contractual flexibility to qualify alternative suppliers after sufficient operating experience. Independent expertise, developed through training, advisory support, and research partnerships, would help operators evaluate suppliers and fuel performance and develop qualified personnel.

The study calls for a credible, regulator-approved spent fuel and radioactive waste strategy from the outset, without requiring a fully defined final disposal solution at project inception. It recommends flexibility for extended pool cooling followed by dry storage if treatment or disposal is delayed, and evaluates reprocessing, transmutation, deep geological disposal, and regional approaches.

The study concludes that nuclear energy is technically feasible for Greece from a fuel cycle perspective, provided fuel supply, safeguards, and spent fuel management receive early and sustained attention. Its illustrative scenarios do not define a specific project’s final configuration.

Dave Culp, NAC’s VP of Consulting, stated "NAC is very excited to be supporting the dynamic Athlos Energy team and look forward to engaging Greece representatives as well as other Countries who are evaluating how nuclear power can support their energy needs."

About NAC International

NAC International is a leading provider of nuclear fuel cycle services and technologies, specializing in the design, licensing, and application of spent nuclear fuel storage and transportation systems. Headquartered in Peachtree Corners, Georgia, NAC serves utilities, research reactors, government agencies, and international clients across the full nuclear fuel cycle. For more information, visit www.nacintl.com.

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