Veolia to Acquire Kurion & Develop an Integrated Offer in Nuclear Facility Cleanup & Treatment of Low & Medium-Level Radioact...
03 Février 2016 - 10:32AM
Business Wire
Regulatory News:
Veolia (Paris:VIE) today announced the signature of the
acquisition of the US company Kurion, the California-based startup
credited for stabilizing Japan’s Fukushima Daiichi nuclear power
plant in the wake of the 2011 tsunami and a specialist in nuclear
waste cleanup technology, for $350 million (cash free).The
acquisition completes a critical part of Veolia’s strategy in the
nuclear cleanup sector. Its objectives in this area were
outoutlined in 2013 when the company signed an collaboration
agreement with the French Alternative Energies and Atomic Energy
Commission (CEA) and formed Asteralis.With the addition of
Kurion’s expertise and technology, Veolia is rounding out its
portfolio of services to the nuclear industry and will now be able
to provide all existing solutions and know-how in both nuclear
facility cleanup and the treatment of low and medium-level
radioactive waste.
Veolia has unique expertise and know-how in the management of
sensitive sites. Its Asteralis subsidiary specializes in
characterizing waste and assessing nuclear facilities. Its
specialist subsidiaries in water and waste treatment, and soil
remediation—Veolia Water Technologies, SARP Industries and GRS
Valtech—have state-of-the-art technology that can serve the nuclear
industry. The combination of these technologies and know-how
with that of Kurion in radioactive waste separation, vitrification
and robotics for access to sensitive areas, will enable Veolia to
develop a world-class industrial offer for nuclear facility cleanup
and the treatment of low and medium-level radioactive
waste.
Synergies may be deployed in the medium term to develop an
integrated offer for facility cleanup and restoration, as well as
the treatment of solid and liquid waste. The offer will be proposed
to the nuclear sector (facilities and research centers, that are in
operation or being decommissioned), as well as to the oil industry
and the pharmaceuticals industry.
Kurion was founded in 2008 and is based in Irvine, California.
It offers solutions in nuclear waste cleanup and facility
decommissioning, as well as treatment of low-level radioactive
waste. Kurion’s activities fall into three areas of expertise:
separation, stabilization, and robotics for access to restricted
areas. Kurion has operations in the United States (California,
Washington, Colorado, Idaho and Texas), the United Kingdom and
Japan. It is the only international operator to be working at
Fukushima on behalf of Tepco, the Japanese nuclear operator. The
company has experienced strong growth since it was founded and now
employs over 200 people. Kurion is included on the Cleantech
Group’s Global Cleantech 100 in 2015, which lists the 100 companies
in the world, quote, “that are the most likely to make the most
significant market impact over the next 5-10 years.”
Antoine Frérot, Chairman and CEO of Veolia, said:
“Bringing Kurion and its employees into Veolia is going to enable
us to develop a world-class integrated offer in nuclear facility
cleanup and treatment of low level radioactive waste around the
world. By having all the expertise and solutions that are
indispensable for the treatment of this type of waste, our company
is confirming that it is what it has always been: a pioneer in the
treatment and recovery of waste and resources.”
“With Veolia, Kurion has found the perfect partner to accelerate
our growth trajectory while expanding our markets and commercial
offerings. The combination of the two companies establishes a major
force in the Nuclear Restoration market”, said William Gallo,
Kurion CEO.
Josh Wolfe, MD of Lux Capital who founded and funded
Kurion added: "The dream when we started was deep technology,
rapid growth and permanent global impact. I was extremely impressed
and persuaded by the vision of Veolia CEO Antoine Frérot for growth
and permanence. I look forward to seeing positive headlines for
years to come."
This acquisition is subject to approval by US authorities, in
particular US competition authorities.
.....
Veolia group is the global leader in optimized resource
management. With over 179,000 employees* worldwide, the Group
designs and provides water, waste and energy management solutions
that contribute to the sustainable development of communities and
industries. Through its three complementary business activities,
Veolia helps to develop access to resources, preserve available
resources, and to replenish them.In 2014, the Veolia group supplied
96 million people with drinking water and 60 million people with
wastewater service, produced 52 million megawatt hours of energy
and converted 31 million metric tons of waste into new materials
and energy. Veolia Environnement (listed on Paris Euronext: VIE)
recorded consolidated revenue of €24.4 billion* in 2014.
www.veolia.com(*) 2014 pro-forma figures, including Dalkia
International (100%) and excluding Dalkia France.
Kurion creates technology solutions to access, separate and
stabilize nuclear and hazardous materials and to isolate them
safely from the environment for a cleaner future. Kurion’s suite of
technologies and engineering capabilities offer a platform to
address the needs of the most-challenging nuclear and hazardous
sites worldwide. Founded in 2008, Kurion operates eight facilities
across California, Washington, Colorado, Idaho, and Texas and has
subsidiaries in Warrington, UK, and Tokyo, Japan. For more
information, please visit www.kurion.com.
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VEOLIAPress RelationsLaurent Obadia - Sandrine
GuendoulStéphane Galfré – Marie BouvetTel: + 33 1 71 75 12
52sandrine.guendoul@veolia.comorAnalysts & Investor
RelationsRonald Wasylec - Ariane de LamazeTel. : + 33 1 71 75
12 23 / 06 00Terri Anne Powers (USA), Tel. : + 1 312 552
2890orKURIONPress contactZeno GroupMelinda Jenkins,
Tél. +1 (650) 801-7957melinda.jenkins@zenogroup.com
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