American Holtec International has invited Energoatom specialists to join the project team that will work on the deployment of the SMR-300 small modular reactor (SMR) at the Palisades NPP site in the United States.
This was announced by Energoatom with reference to Holtec President and CEO Chris Singh on its Telegram channel on Wednesday.
“Participation of Energoatom representatives at the stages of construction, testing and commissioning of SMR at the Palisades NPP site (USA) will allow the company to gain experience for further implementation of this technology in Ukraine,” the NNEGC noted.
According to Energoatom CEO Petro Kotin, the invitation of the company’s specialists to the Holtec project team is another evidence of the high confidence in Ukraine and Energoatom from strategic partners.
“We are pleased to receive this invitation, which demonstrates not only support in this difficult time for the country, but also recognizes the high professionalism and competence of our nuclear scientists,” he emphasized.
Earlier, Holtec received a $1.52 billion loan from the US Department of Energy to restart the Palisades NPP, with two SMR-300 reactors planned to be deployed at the plant.
As reported, Energoatom and Holtec have implemented a project for the construction and commissioning of the Centralized Spent Fuel Storage Facility in Ukraine (CSFSF).
The companies also reached an agreement on the implementation of two large-scale projects in Ukraine: the construction of a plant for the production of SMR components and the construction of a plant for the production of components for the Centralized SFSF, which have been produced in the United States until now.
The international venture fund TA Ventures is interested in investing in Web3 cryptocurrencies, as well as in fintech projects, including neobanks, said the founder of the fund, Victoria Tigipko, in an interview with the Business Breakfast project organized by Forbes in Kyiv.
“Investing in so-called crypto projects, Web3 projects – yes, I am interested in this. We are looking at projects that are related. These are platform solutions, these are projects that can be used globally,” she said, while noting that TA Ventures is already an investor in MoonPay, a fintech company specializing in cryptocurrency payment solutions, and Gemini, a cryptocurrency exchange.
“We are interested in such projects on this scale,” Tigipko assured.
According to her, TA Ventures is also interested in fintech projects and has already invested in the neobank project of Dmytro Dubilet, one of the founders of Ukrainian monobank, Nick Bezkrovny, former head of M&A at KPMG, and Oleksandr Vityaz, a provider of cloud operating systems at Corezoid, called Fintech Farm.
“Why neobanks? In our understanding, the world of fintech is moving towards One-Stop-Shop (a “one-stop shop” is a business or service model that offers a full range of products or services to meet different customer needs in one place or on one platform)… That is why we focus on such products,” emphasized Tigipko.
According to her, Fintech Farm operates in Vietnam and Egypt. Launches in India, Azerbaijan, and Georgia are planned in the near future.
The founder of TA Ventures said that she will soon join the board of the global organization Endeavor, founded in 1997 by Linda Rottenberg and Peter Kellner. One of Endeavor’s goals is to transform emerging markets by finding and developing entrepreneurial talent.
“I will soon become an Endeavor board member. As a board member, I am investing in the Ukrainian Endeavor… For me, it is like paying tribute to the development of the Ukrainian startup business ecosystem,” she said.
TA Ventures International Fund was founded by Victoria Tigipko in 2010. It focuses on such technology sectors as mobility, digital healthcare, fintech, industrial technology, enterprise software, real estate technology, logistics, financial services, and IoT. The fund invests in early-stage technology startups focused on sectors such as HealthTech, FinTech, B2B Software and mobility solutions. The average investment amount is from $100 thousand to $500 thousand at the Pre-Seed and Seed stages.
Ms. Tigipko is also the founder of iClub, a private investment club for angel investors that provides its members with the opportunity to invest in promising startups and participate in major technology conferences.
At the first “EU-Ukraine Investment Conference” in Warsaw on Wednesday, the European Union called for mobilizing private investment in areas critical to Ukraine’s recovery, the European Commission (EC) said.
“Under this call, EU businesses, including joint ventures or consortia involving both European and Ukrainian companies, are invited to submit proposals by March 1, 2025. Proposals will be reviewed and linked to the most suitable investment projects financed by the Investment Framework for Ukraine, which is an integral part of the EU’s EUR 50 billion Ukraine Fund,” the EC communiqué says.
“Ukraine’s recovery requires both public funding and partnerships with the private sector. By combining these efforts, we can maximize investment, support the country’s recovery and its gradual integration into the EU single market. Indeed, facilitating private sector participation in Ukraine’s recovery and reconstruction will be key to its success,” said Oliver Vargey, European Commissioner for Neighborhood and Enlargement Policy.
The European Commission named the priority areas of the EU’s call: development of sustainable energy solutions, including renewable energy projects and modernization of existing energy infrastructure; investment in processing of critical raw materials – key minerals and resources needed for high-tech industries and renewable energy technologies; revitalization and modernization of the manufacturing and production sector to increase industrial competitiveness; support for construction and reconstruction of Ukraine; and support for the development of the energy sector.
The two-day conference, according to the EC, brought together more than 5,000 participants, including companies, banks and investors from Ukraine, the EU and other countries, to mobilize private investment in the recovery, reconstruction and modernization of Ukraine.
In January-October this year, Ukraine reduced exports of ferroalloys in physical terms by 5 times compared to the same period last year – to 66.260 thousand tons from 334.008 thousand tons.
According to the statistics released by the State Customs Service, exports of ferroalloys in monetary terms decreased by 3.7 times to $78.138 million from $288.958 million.
At the same time, the main exports were made to Poland (25.17% of supplies in monetary terms), Turkey (24.31%) and Italy (19.74%).
In addition, in January-October, Ukraine imported 77.556 thousand tons of these products compared to 6.790 thousand tons in January-October 2023 (an 11.4-fold increase). In monetary terms, imports increased 4.8 times to $131.192 million from $27.192 million.
Imports were mainly from Poland (35.03%), Norway (18.98%) and Kazakhstan (14.38%).
As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing of crude manganese ore in late October and early November 2023, while NFP and ZFP stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production at a minimum level.
In 2023, Ukraine decreased exports of ferroalloys in physical terms by 1.5% compared to 2022, to 344.173 thousand tons, while in monetary terms, exports of ferroalloys decreased by 47.2% to $297.595 million. The main exports were to Poland (52.79% of supplies in monetary terms), Turkey (14.13%) and the Netherlands (8.46%).
In addition, in 2023, Ukraine imported 14.203 thousand tons of these products, which is 30.9% less than in 2022. In monetary terms, imports decreased by 41% to $42.927 million. Imports were carried out mainly from Poland (23.94%), India (16.08%) and Armenia (14.35%).
Prior to the nationalization of the financial institution, PrivatBank organized the business of ZZF, NZF, Stakhanovsky ZF (located on the NKT), Pokrovske and Marganetske GOKs. Nikopol Ferroalloy Plant is controlled by EastOne Group, created in the fall of 2007 as a result of the restructuring of Interpipe Group, and Privat Group.
Private JSC “Insurance Guarantees of Ukraine” (“SGU” Kiev) in January-September 2024 collected UAH 1,33 mln of gross premiums, which is 34,4% less than a year earlier, follows from the information of the rating agency “Expert Rating” on confirmation of the insurer’s financial strength rating/credit rating on the national scale at the level “uaAA” following the results of work for 9 months. 2024.
It is noted that for the given period of 2024 the volume of insurance payments and indemnities made by the insurer has amounted to UAH 100 th, while for the same period a year earlier UAH 3 th.
It is also noted that shareholders’ equity of “SGU” as of September 30, 2024 has grown by 44,53% and has amounted to UAH 55,17 mln, due to the increase in the volume of retained earnings in its structure as a result of profitable activity in the period under review.
During the same period gross liabilities of the company have decreased by 95,35% to UAH 0,96 mln, the volume of cash and cash equivalents on “SGU” accounts has grown by 0,07% and has amounted to UAH 47,97 mln. The level of cash coverage of insurer liabilities has grown by 4769 p.p. to 50,02%.
At the same time RA notes that the operating profit of the insurer for the 9 months of 2024 has amounted to UAH 10,76 mln, and net profit – UAH 12,41 mln, while for the same period of 2023 the activity of “SGU” was unprofitable.
Private JSC “SGU” was registered in November, 2005. It has licenses for 15 types of insurance activities, including four for compulsory insurance, 11 for voluntary insurance.
The governments of Ukraine and Finland have signed a Framework Agreement under which Finland will mobilize up to EUR 50 million next year for projects financed under the Finnish-Ukrainian Investment Fund (FUIF) program, according to a press release from the Ministry of Finance.
“Under the agreement, loans of up to EUR 50 million are planned for 2025. Further implementation of the Program will involve the conclusion of relevant loan agreements to determine the amount, terms and conditions of loans,” the release said.
The agreement was signed on behalf of Ukraine by Finance Minister Sergii Marchenko, while the signatory on behalf of Finland was Minister of Foreign Trade and Development Ville Tavio.
It is specified that the grant component of the project will amount to at least 35% of the total cost, which will provide preferential financing terms.
In addition, the ministers discussed current development programs and support for Ukraine’s recovery with the assistance of Finland. Marchenko emphasized the importance of cooperation within the framework of the Ukrainian Donor Platform, whose steering committee Finland joined in April 2024 as an observer.
In his turn, Tavio emphasized that the most promising sectors for investment and recovery for the Finnish side are energy, education, infrastructure, digital technologies and agriculture.
The Ministry of Finance reminded that Finland’s direct budget support since February 2022 has amounted to more than $36 million in grant funding.
