Studsvik Signs Frame Agreement Worth Up to SEK 4 Billion to Manage Norway's Spent Nuclear Fuel

Studsvik has signed a frame agreement with Norwegian Nuclear Decommissioning (NND) to manage spent nuclear fuel from Norway's former research reactors at Halden and Kjeller, with an estimated total value of SEK 3-4 billion and a contractual minimum of about SEK 875 million. The agreement runs until 2055, news.cision.com reported.

How the Studsvik and NND Agreement Works

Studsvik will transport the fuel from Norway to its licensed facilities at Studsvik outside Nyköping, inspect it and, where required, treat it, including oxidation of metallic uranium fuel, to prepare it for interim storage and final disposal. The treated fuel will remain at Studsvik until it is returned to Norway for final disposal.

The agreement was signed in Halden on October 16, 2026 by Karl Thedéen, CEO of Studsvik, and Pål Mikkelsen, Director General of NND. It starts with a pre-study that will define the detailed project plan and budget, with the majority of work to be conducted over the coming two decades.

Norway holds about 16.5 tonnes of spent fuel from six decades of running nuclear research reactors. The inventory includes metallic uranium fuel, aluminium-clad fuel and experimental fuels, and much of it cannot be stored long term or disposed of in its current form.

NND may terminate the agreement following the pre-study with 12 months' notice, during which the fixed fee and minimum volume continue to apply, and may otherwise terminate it after five years with 18 months' notice. The agreement is not expected to have a material impact on Studsvik's results for 2026 and 2027.

Karl Thedéen, CEO of Studsvik, said: "This landmark agreement is the result of many years of work, and potentially one of the most significant in Studsvik's history."

Studsvik's Nuclear Deals and Funding Record

Studsvik is a Swedish nuclear technology company founded in 1947, according to akta.pro company records, providing decommissioning, fuel and materials testing, simulation software and waste treatment services across the nuclear facility lifecycle.

The same records show Studsvik acquired Kärnfull Next AB in March 2026 for approximately €6.5 million plus up to €14 million in earn-outs, and signed a strategic MoU with Rolls-Royce SMR in March 2026 covering fuel qualification, hot cell, core design and regulatory licensing support. Segra Capital acquired a 9.9% anchor stake in January 2026.

Earlier Studsvik Nuclear Moves

On September 3, 2026, Studsvik selected GE Vernova Hitachi Nuclear Energy and Samsung C&T as partners for a Swedish nuclear project targeting 1.2 GW of new capacity, with the first unit expected in the mid-2030s, Morningstar reported.

Studsvik named Mats Ladeborn acting board chairman from October 12, 2026, replacing Jan Bardell, who will step down, The future of trading reported. Ladeborn joined the board in August 2026.

What Comes Next for the Studsvik Fuel Project

The pre-study begins immediately and will define how the fuel is collected, transported, handled in Sweden and returned. Studsvik will provide further information once the project plan and budget have been finalised and the necessary permits have been obtained.