Studsvik has signed a framework agreement with the Norwegian nuclear decommissioning agency Norwegian Nuclear Decommissioning ( NND ) to be responsible for managing Norway's remaining spent nuclear fuel.

According to the agreement, the cooperation between the two parties will last until 2055. The estimated minimum value of the contract is around 875 million Swedish kronor, while the Studsvik party estimates its total value to be between 3 and 4 billion Swedish kronor. The agreement covers the transportation of spent fuel from Norway's former research reactors, its processing to meet long-term storage requirements, as well as the storage of this fuel during the transition period. The final value will depend on the scope and budget determined during the preliminary research phase, as well as the work orders issued by NND, and is subject to the necessary permits required by both countries.

This long-term agreement was signed on October 16, 2026, in Harden. The signatories were Studsvik's Chief Executive Officer Karl Thed é en, and NND's Director General Pål Mikkelsen.

Norway currently holds about 16.5 tons of spent fuel from nuclear research reactors that have been in operation for sixty years. A large portion of this cannot be stored or disposed of in its current form for an extended period. The inventory includes metallic uranium fuel, aluminum-clad fuel, and experimental fuel.

According to the framework agreement, Studsvik will transport this fuel from Norway to its licensed facility near Nijmegen in Sweden for inspection and, if necessary, processing, including the oxidation of metallic uranium fuel, in order to prepare it for intermediate storage and final disposal. The processed fuel will be stored at Studsvik until it is transported back to Norway for final disposal.

Preliminary research will be launched immediately to determine in detail how the fuel will be collected, transported, processed in Sweden, and then re-exported to Norway. Based on this, both parties will finalize the project plan and budget draft. NND will issue work orders for each stage, and these orders must obtain regulatory approval and permits from both countries.

Studsvik It is estimated that the total value of the agreement before 2055, including expected work orders for transportation, processing, and storage, will reach 3 to 4 billion Swedish kronor. NND Assuming all fuels arrive in Sweden by 2035, the minimum contractual commitment is approximately 875 million Swedish kronor. NND The agreement can be terminated after a 12-month notice period following preliminary research; during this period, fixed fees and the minimum workload still apply. Otherwise, it can also be terminated after five years with an 18-month notice period.

In these circumstances, the minimum commitments will not be able to be fully met. Studsvik expects that this agreement will not have a significant impact on the company's performance in 2026 and 2027. Once the project plan and budget are finalized and the necessary permits are obtained, Studsvik will provide further information.

The agreement also includes a fixed annual fee to cover project management, regulatory work, security, as well as the reservation of storage capacity for Studsvik. This agreement is built on over a decade of cooperation between Studsvik and the Norwegian nuclear industry, which includes a contract signed in 2021 with the Energy Technology Institute (IFE), responsible for handling the metallic uranium fuel for the JEEP I reactors of Kjeller.

Studsvik CEO Karl Thed said: "This milestone agreement is the result of years of work and may also be one of the most important agreements in the history of Studsvik. Norway needs to find a safe and sustainable solution for the long-term temporary storage of fuel, and we have the corresponding facilities, permits, and professional capabilities to carry out this task. This agreement strengthens Studsvik's long-term business foundation in the fields of fuel, materials, and waste technology, and also opens the door for us to take responsibility throughout the entire lifecycle of nuclear power and to expand into more international opportunities."

Director General Pål Mikkelsen stated: "The safe management of spent fuel from Halden and Kjeller is one of the most important tasks for NND. Some of the fuel in stock must be processed before it can be safely stored for a long time, and Studsvik has the facilities and experience to carry out this work. We believe this is the safest approach and it is also reasonable from both environmental and economic perspectives."

For more information, please contact:

Karl Thed is en, and Studsvik AB ( publ ) is the President and Chief Executive Officer.[ email protected ]

Martin Andreasson, Norwegian Nuclear Decommissioning Senior Director of Communications,[ email protected ]

Media inquiries:[ email protected ], +46 155 22 10 00

This information is subject to the obligation of disclosure under the EU Market Abuse Regulations by Studsvik AB ( publ ). It was submitted and published on October 16, 2026, at 10:25 Central European Summer Time, through the aforementioned contact person Studsvik.

About Studsvik

Studsvik is an independent nuclear technology company whose business covers the entire lifecycle of nuclear energy, from the development of new projects to the service, operational support, and decommissioning of existing units. The company is a leading provider of reactor analysis software independent of suppliers, and its hot cell laboratory located in Nyköping is used for testing fuels and materials for fission and fusion applications worldwide. Studsvik also provides radiation protection services and radioactive waste treatment technologies, as well as handling and packaging of radioactive isotopes for medical and industrial purposes. ReFirm is the platform developed by Studsvik in Sweden for new nuclear projects. Studsvik was established in 1947 and initially served as the center of Sweden's national nuclear program. Today, it provides services to operators, fuel suppliers, technology developers, and regulatory agencies in over 20 countries, employs approximately 540 people in six countries, and is listed on the NASDAQ Stockholm with the stock code SVIK.

www.studsvik.com

https :// www.linkedin.com / company / studsvik /

About Norwegian Nuclear Decommissioning

Norwegian Nuclear Decommissioning ( Norsk nukle ær dekommisjonering , NND ) is a national agency under the Norwegian Ministry of Trade, Industry and Fisheries, responsible for the safe decommissioning of Norwegian nuclear facilities and the management of nuclear waste, including spent nuclear fuel.

Provided by Cision: http :// news.cision.com.

The following files are available for download:

SOURCE Studsvik AB