Handelsblatt12 minutes agoBusiness2 min readGermany

Energy policy: Federal government invests in British fuel element manufacturer

The federal government is acquiring a third of the shares in the British fuel element manufacturer for 4 billion euros

Quick Look

According to Handelsblatt information, the federal government is buying a third of the shares in the British fuel element manufacturer Urenco.
RWE and Eon are selling their shares.
Four billion euros are earmarked for the acquisition in the 2027 federal budget.

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Why It Matters

Urenco is a British company in which Great Britain and the Netherlands each hold a third. RWE and Eon share another third. The company operates a uranium enrichment plant in Gronau and supplies around a third of the global market with enriched uranium.

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Berlin. According to information from government circles Handelsblatt, the federal government is buying into the British fuel element manufacturer Urenco. The plan is for the federal government to take over a third of the shares in the company. The “Welt” reported first.

The United Kingdom and the Netherlands each have a third stake in Urenco. The two former German nuclear power plant operators RWE and Eon share another third.

According to the information, the two German energy companies want to sell their shares because nuclear power no longer fits their strategy. Another motive of the companies could be that the company, which has previously focused on civil nuclear energy, is becoming increasingly active in the military nuclear sector at the request of Great Britain in particular.

RWE and Eon did not want to comment on the topic when asked. The Federal Ministry of Finance and the Federal Ministry of Economics also did not want to comment on this.

The federal government had tried to keep the process under wraps. However, in the adjustment session for the 2027 budget draft in the Bundestag on Thursday, a new expenditure item surprisingly appeared: "Expenses in connection with the acquisition and holding of investments in companies in the energy sector: 4 billion euros," it said. According to information from Handelsblatt, the money will be used to acquire the Urenco stake.

Urenco is crucial to the nuclear industry

Urenco also operates a uranium enrichment plant near Gronau in Germany. The company is one of the world's leading providers of these services to the civil nuclear energy industry. Using special gas centrifuge technology, the company processes natural uranium into nuclear fuel at locations in Germany, the Netherlands, Great Britain and the USA.

Urenco supplies around a third of the global market with enriched uranium and therefore plays a crucial role in the security of supply for nuclear power plants.

The British company's CEO since 2019 has been German manager Boris Schucht, who was formerly head of the German electricity transmission system operator 50Hertz.

What to Watch

AI outlook — possibilities, not facts

The federal government is taking over a third of the Urenco shares from RWE and Eon.
Very likely · Within months

Open Questions

When exactly will the federal government acquire the shares?
At what price will the shares of RWE and Eon be acquired?
What role does the military use of Urenco play in the decision?