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Employee holding up yellowcake at a uranium processing facility at Turamidih Uranium Mill in India.

Pallava Bagla | Corbis News | Getty Images

The uranium renaissance has a slight hitch: the world’s largest producer of the yellowcake is staring at a production snag over the next two years.

And that’s about to send uranium prices, already at 16-year highs, on another rally.

Kazakh mining company Kazatomprom recently cautioned that it is likely to fall short of production targets through 2025 due to construction delays and “challenges related to the availability of sulfuric acid.” Sulfuric acid is critical in the extraction process as it is used to leach and recover uranium from raw ore.

Kazatomprom is the world’s leading uranium miner, accounting for over one-fifth of the world’s production. Kazakhstan also produces 43% of the world’s uranium supply, the largest slice of the global market for the heavy metal. Kazatomprom’s announcement comes as other major producers struggle. Canada-based Cameco has flagged lower production, while France-owned Orano has shut its Niger operation.

We’re in the middle of the biggest reactor build program in decades.

Guy Keller

portfolio manager at Tribeca

“We’re coming from a decade of under supply,” said Guy Keller, portfolio manager at investment and advisory firm Tribeca. He added that the deficit will continue as “we’re in the middle of the biggest reactor build program in decades.”

Uranium is a key material in nuclear power production and demand has soared as governments try to shift away from carbon-emitting fuels and reduce their reliance on Russian oil and gas.

Around 60 nuclear power reactors are under construction in 17 countries and another 110 are in the planning stages. Most projects underway are in Asia, particularly China.

At the COP28 climate change conference, more than 60 countries backed a plan to triple global renewable energy capacity by 2030, bringing nuclear energy back into the spotlight as an alternative power source.

That’s pushed prices higher, with uranium surging to a 16-year high, according to data provided by UxC. Uranium was recently trading around $106 per pound and analysts expect prices to continue to rally.

Citibank expects uranium prices to average $110 per pound in 2025.

“The main fundamental drivers of the bull market have been the closure of mines due to years of overproduction and low prices,” the bank wrote in a report published Monday.

Jefferies is also bullish on the metal.

“With short-term dynamics remaining supportive, prices seem on course to exceed the June 2007 all-time highs of US $136/lb,” the brokerage wrote in a research note.

Geopolitical supply concerns

Cooling towers at a nuclear power plant in Slovakia.

Janos Kummer | Getty Images News | Getty Images

“This confluence of factors is setting up an even larger projected supply deficit in the coming years and potential disruptions to the nuclear fuel supply chain,” Ciampaglia told CNBC in an email.

As a result, countries that rely heavily on nuclear power may need to diversify.

France, which derives up to 70% of its electricity from nuclear energy and is the most dependent, has not received new uranium shipments from Niger since a coup last year. Uranium exports out of Niger, the world’s seventh largest producer of the metal, have effectively stopped since a military coup in July.

“If the situation is not resolved, France will have to find alternative supply sources,” Ciampaglia added. French President Emmanuel Macron has recently made trips to uranium powerhouses Kazakhstan, Mongolia and Uzbekistan in search of new supply partnerships.

Still, consumers are unlikely to feel the effect of these disruptions just yet.

“Most utilities contract for fuel under long-term contracts, so they are unlikely to experience instant sticker shock from current higher prices,” said Jonathan Hinze, President of UxC, adding that he does not see “a hugely detrimental effect on electric utilities and power prices.”

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Uber chooses first market to deploy its Lucid Gravity robotaxis featuring Nuro Driver

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Uber chooses first market to deploy its Lucid Gravity robotaxis featuring Nuro Driver

Three months after Uber, Lucid Motors, and Nuro announced a partnership that would enable Gravity SUV robotaxis, the rideshare network has shared where the public will first be able to hail one. Spoiler alert, it’s easy to guess if you give it half a thought.

As we reported in July, Uber Technologies committed to a $300 million investment in Lucid Group (parent company of American EV automaker Lucid Motors), to deploy at least 20,000 Lucid vehicles as robotaxis over the next six years.

Those Lucid vehicles, which will consist of the automaker’s flagship Gravity SUV to begin, will hit public roads equipped with a Level 4 autonomous system called Nuro Driver. Nuro, the third partner in this equation, is a robotics company specializing in zero-occupant delivery vehicles, which garnered an existing partnership with Uber Eats as well as a “hefty” (yet undisclosed) investment from Uber Technologies.

Last month, Lucid delivered its first Gravity SUV to Nuro to begin the retrofitting process of the Nuro Driver system to support Uber’s hopes for a luxe robotaxi fleet. While the partners continue to work toward building an exciting new fleet of Lucid Gravity Robotaxis, Uber has shared the location where they will first go into service… Casper, Wyoming.

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Just kidding!

It’s the San Francisco Bay Area, of course.

Lucid-first-EV-Uber
Lucid Gravity SUV fitted with Nuro’s self-driving tech (Source: Lucid)

Uber to deploy Lucid Gravity EVs in Bay Area in 2026

Today’s update from Uber expands upon the ongoing partnership with Lucid Group and Nuro. According to the companies, the San Francisco Bay Area will be the first market where riders will see this next-generation autonomous robotaxi program in operation. That milestone is expected sometime in 2026.

Uber has shared that it has been updating policymakers and regulators at every level on the progress of its exclusive Lucid Robotaxis and continues to meet the operational requirements. Notably, Uber has shared that on-road development with the Lucid Gravity robotaxi engineering fleet is already underway in the Bay Area.

Furthermore, Nuro and Lucid intend to be operating over 100 Gravity robotaxis as part of the test fleet “in the coming months.” Lucid interim CEO, Marc Winterhoff, spoke about today’s announcement:

Lucid has always celebrated its California roots, and we’re thrilled to make the San Francisco Bay Area the first market for our new robotaxi on the Uber platform, powered by the Nuro Driver. Beginning next year, riders will experience a level of convenience, safety, and comfort unlike anything else on the road. We can’t wait to bring this service to life and expand it to communities across the country.

To build this fleet of Uber-exclusive robotaxis, the required hardware will be integrated into Lucid Gravity SUVS while they are still on Lucid’s assembly line in Arizona. Those builds will then be integrated with Nuro’s proprietary software when Uber officially commissions them.

All eyes on 2026 as we now know that residents around the Bay Area will be able to hail a driverless Lucid Gravity through the Uber platform. I’m very much looking forward to seeing this fleet in action.

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Quiet confidence: Bobcat announces new EA line of industrial air compressors

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Quiet confidence: Bobcat announces new EA line of industrial air compressors

With its new EA line of variable speed industrial air compressors and superior energy efficiency from their advanced electric motors, industrial equipment Bobcat is setting a new standard for job site performance.

Designed for top-tier flow rates and maximum energy efficiency, Bobcat says its new EA lineup of variable speed compressors – the EA30VS, EA50VS, EA75VS, and EA100VS – is built to meet the demanding needs of modern industrial operations. But, crucially, the new EA line is about more than efficient motors, quiet running, and precise speed variation. It’s about tech.

To that end, the EA Series is equipped with a full range of “smart” operational features controlled through a 7″, full color LED controller display for intuitive operation. This system allows connection to, and intelligent optimization of, up to three additional compressors, ensuring the entire compressed air system operates at peak performance based on demand so perators can easily customize performance with programmable scheduling by date, time and pressure bands – delivering precision control with minimal effort.

And, of course, the whole system is backed by Bobcat’s global warranties, international parts and dealer networks, and commitment to durability and service. 

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“The new EA Series represents a leap forward in industrial air compression technology for Bobcat,” said Cody Blythe, Bobcat product manager. “These machines offer exceptional flow rates paired with peak energy efficiency, providing our customers with a powerful solution that lowers their total cost of ownership through reduced electricity usage.”

Bobcat says its new EA line of variable speed compressors are available now at select Bobcat distributors, contact your local dealer for pricing.

Electrek’s Take


Bobcat is leading the charge to decarbonize job sites, delivering quiet, smooth-running machines for operators who value safety, performance, precision, and sustainability. The company is also among the few manufacturers replacing hydraulic systems with fully electric ones, further reducing oil use and eliminating idle warm‑up time.

You love to see it.

SOURCE | IMAGES: Bobcat.


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LiveWire reveals more details on its new lowerer cost S4 Honcho electric motorcycle

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LiveWire reveals more details on its new lowerer cost S4 Honcho electric motorcycle

LiveWire, the electric motorcycle brand spun out of Harley-Davidson, has just given us a closer look than ever at its upcoming lower-cost, smaller-format electric motorcycles ahead of their larger unveiling at the Milan Motorcycle Show (EICMA) next week.

While we got our first glimpse of the new machines earlier this summer, spotting a street and trail version of the smaller electric motorbikes, now we have a name for the models and a few more details.

Officially called the S4 Honcho, the new model will be a 125-cc equivalent that will be available in both a street-legal version capable of being operated by riders who possess a moped/light motorcycle license in Europe or a motorcycle license in the US, and a license-free off-road version.

“The S4 Honcho Street will qualify for A1 licenses in Europe and the UK and M-endorsement in the U.S., offering lightweight, urban-friendly electric mobility with intuitive performance and removable batteries,” explained the company.

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The bikes appear to be powered by a centrally-mounted, chain-driving electric motor and a pair of removable batteries accessed by flipping up the seat.

LiveWire has remained fairly tight-lipped regarding the major tech specs for the bikes, as well as the price, but we do get a look at the dual removable batteries thanks to a new image posted to the company’s website.

There, we can see what appears suspiciously similar to a pair of KYMCO Ionex batteries, which would make sense given LiveWire’s close partnership with the Taiwanese scooter giant.

A couple years ago at EICMA I had the chance to check out KYMCO’s new Ionex batteries and e-scooter platform firsthand, which you can see in the video below.

While excitement has been building for LiveWire’s smaller electric motorcycles, the full unveiling of the bikes’ performance figures as well as the price tag will prove critical for gauging whether or not the mini-bikes could be a major turning point for LiveWire’s elusive profitability.

But the company isn’t betting it all on one horse, or one Honcho. Also in attendance at the show will be LiveWire’s full-scale concept of an electric maxiscooter built on the same S2 architecture that powers the company’s currently best-selling models, the S2 Del Mar, S2 Mulholland, and S2 Alpinista.

That scooter, built in partnership with KYMCO, will leverage the company’s fully developed S2 platform to create a more comfortable, high-performance urban and suburban-oriented model.

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