Curio, NuScale Power Corporation (NYSE: SMR), and Framatome Inc. have signed a Memorandum of Understanding to evaluate an integrated nuclear fuel cycle solution aimed at supporting domestic and international nuclear energy markets.

Under the agreement, the three companies will assess source-to-product and source-to-fuel pathways using materials recoverable through Curio's NuCycle technology, which the company claims can reduce residual nuclear waste volumes by up to 97% while recovering nuclear materials. The parties will also conduct technical assessments, feasibility studies, supply chain analyses, and interface evaluations.

The collaboration will focus on fuel recycling, fuel development, manufacturing, qualification, and advanced reactor deployment. NuScale's small modular reactor (SMR) technology has received design certification from the U.S. Nuclear Regulatory Commission, which the company states is the only SMR to have done so.

"America's ability to lead the next era of nuclear energy will depend on more than building reactors—it will require building the fuel cycle infrastructure needed to support them," said Ed McGinnis, CEO of Curio.

"Advancing the next generation of nuclear energy demands bold innovation and strong alignment across the entire fuel cycle," said Tony Robinson, Framatome Inc. President and CEO.

John Hopkins, President and CEO of NuScale Power, said the nuclear industry requires "a strong, reliable, sustainable frontend and backend fuel supply to meet increasing demand."

The MOU outlines plans to identify potential future development agreements and commercial partnerships. The parties said the collaboration may lead to future agreements focused on technology development, fuel qualification, supply chain development, and commercial deployment, according to a press release.