Net Zero Nuclear Announces Cameco as New Corporate Partner

Saskatoon, Saskatchewan, Canada, December 3, 2023

Net Zero Nuclear, the initiative calling for collaboration among government, industry leaders and civil society to triple global nuclear capacity to achieve carbon neutrality by 2050, today announced Canada-based nuclear fuel company Cameco as a new partner in the coalition. Cameco joins the initiative at the Gold Partner level, highlighting industry support for this initiative, which was launched by the World Nuclear Association (WNA) and the Emirates Nuclear Energy Corporation (ENEC), with the support of the Atoms4NetZero initiative launched by the International Atomic Energy Agency (IAEA), at the World Nuclear Symposium in London earlier this year.

In the lead up to COP28, which will be hosted by the United Arab Emirates in Dubai next month, Net Zero Nuclear aims to bring together political leaders and industry leaders to engage in a data-driven, actionable, solutions-focused dialogue to enable the rapid expansion of the global nuclear fleet and the acceleration of research and development into emerging nuclear technologies. The initiative will work to ensure nuclear energy’s potential is fully realized in facilitating the decarbonization of global energy systems, by promoting the value of nuclear energy and removing barriers to its growth.

His Excellency Mohamed Ibrahim Al Hammadi, Managing Director and Chief Executive Officer of ENEC, which leads the UAE Peaceful Nuclear Energy Program and its flagship Barakah Nuclear Energy Plant, said: “We will only halt the devastating effects of climate change and reach our goal of net zero by working alongside the most prominent leaders in the nuclear energy industry. We celebrate this partnership with Cameco, a global leader in supplying nuclear fuel, which will greatly advance our mission. We look forward to collaborating on our quest to reach net zero and triple global nuclear capacity by 2050.”

“Increasingly, countries and companies around the world are counting on nuclear power to play a role in achieving their net-zero emissions targets while strengthening their energy security. Its importance as an essential source of sustainable, carbon-free, baseload electricity has never been greater,” said Cameco President and CEO Tim Gitzel. “As a major supplier to the global nuclear power sector, Cameco is committed to energizing a clean-air world. With our recent joint acquisition of Westinghouse, we are well-positioned to provide solutions for the increasing need for clean energy. Cameco is proud to stand with organizations, governments and industries worldwide in supporting Net Zero Nuclear at COP28.”

Dr Sama Bilbao y Leon, Director General of World Nuclear Association said: "A tripling of global nuclear capacity by 2050 will require contributions from across the nuclear fuel cycle and supply chain. I welcome Cameco's support for Net Zero Nuclear at COP28, as part of their continuing efforts to support the clean energy transition."

For more information on Net Zero Nuclear visit: netzeronuclear.org

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
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306-385-5541
veronica_baker@cameco.com