Netherlands to Get EU Green Light For $2.2B Nuclear Reactor Aid

The Dutch government is on the verge of obtaining approval from the European Union for a state aid package worth 2 billion euros ($2.2 billion) to construct a nuclear reactor that will manufacture medicinal isotopes for treating cancer.

A newly founded business (NewCo) will receive the assistance in the form of loans and shares for the stated value. This firm will be responsible for the construction and operation of the reactor that will manufacture the medicinal isotopes as well as the nuclear health center.

After receiving a complaint from SHINE Technologies, a U.S.-based company that manufactures radioactive medical isotopes, the people involved stated that the clearance from the European Commission is contingent on a promise from the Dutch government that medicinal isotopes would not be offered at a price lower than their cost.

An individual stated that the decision from the European Union could be made as soon as Friday.

In their capacity as the bloc’s market enforcer, the European Union executive has refrained from commenting on the negotiations, timing, or outcome of the talks with the Dutch authorities.

“The Commission is in close and constructive discussions with the Dutch authorities regarding public support to the PALLAS project, with a view to ensuring compatibility with the EU Treaties while avoiding undue distortions of competition in the production and supply of medical radioisotopes,” a Commission spokesperson stated.

Out of worries that shortages of medical isotopes will occur beyond 2030, the Netherlands, a prominent producer of medical isotopes, suggested the construction of a new nuclear reactor for medical isotopes.

In an email, SHINE Technologies stated that companies receiving government subsidies should not be permitted to prevent new private-market services from serving patients by offering prices below cost as a result of illegal subsidies.

The EU competition watchdog indicated that the Dutch authorities have committed to ensuring that NewCo, while managing PALLAS, will set product prices that fully cover production and commercialization expenses.

EU antitrust chief Margrethe Vestager added that this 2 billion euro initiative allows the Netherlands to back a strategic project that ensures the supply of essential medicines and fosters groundbreaking innovation in nuclear technology for the benefit of European citizens.

This news comes in conjunction with the announcement that China has achieved a potentially game-changing achievement in nuclear energy by unveiling the world’s first nuclear power station that is guaranteed to not melt down in the event of a nuclear disaster.

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