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We are pleased to report that Holtec's technology to place Chernobyl's irradiated fuel in a storage facility with multiple barriers to ensure long-term environmental isolation has been approved by the State Nuclear Regulatory Committee of Ukraine and by all of the country's national institutions and ministries responsible for reviewing the application to protect public health and safety.

The Chernobyl dry storage project, begun in the early fall of 2007 has chalked up some impressive milestones in its first year of existence.

We are pleased to announce that Holtec has won a competition conducted by the State Specialized Enterprise “Chernobyl NPP” (SSE ChNPP) to develop a storage system design to place the “failed” spent fuel (that is not covered by the Donor/Ukraine agreement) in dry storage ISF-2.

In a ceremony on September 17, 2007 in Kiev, Ukraine, presided by President of Ukraine Victor Yushchenko, General Director of the Chernobyl Specialized State Enterprise, Igor Gramotkin and Holtec’s President and CEO, Dr. Kris Singh, signed the Contract documents that bind Holtec and the Ukrainian government to complete the interment of Chernobyl’s used nuclear fuel in dry storage systems in full conformance with Ukraine’s national safety standards.

The Chernobyl Nuclear Power Plant (ChNPP) is sponsoring a study funded by the European Bank of Reconstruction and Development (EBRD) to utilize Holtec’s Forced Helium Dehydration (FHD) technology to dry the RBMK spent fuel from the three idled (undamaged) Chernobyl reactors.