21/12/2023
In an era defined by the urgent need for global sustainability, nuclear is one of the many technologies that must play its part. Throughout this series, we have looked at the critical role of intellectual property in driving innovation and economic progress, while shaping the course of the nuclear industry’s development. Published patent filings serve as a useful proxy for trends in innovation and investment. So, it’s certainly encouraging to see filings in the past decade beginning to return to levels last season in the 50s and 60s.
In recent years we have witnessed a renaissance in traditional nuclear power, with a major focus on ensuring it can provide a stable predictable output that counterbalances the more fluctuating contributions made by sources such as wind and solar.
Advances in nuclear reactor engineering are characterized by innovations that enhance safety, efficiency, and sustainability. Furthermore, small modular reactors (SMRs) and Generation IV reactors promise to make the technology much more scalable, increasing the financial and technical viability of an imminent rollout.
These innovations are poised to drive down costs, increase scalability, and drastically reduce environmental impact, bringing us one step closer to a net-zero future. We have also seen how innovation within the nuclear sector has led to complementary innovations in the fields of energy storage and manufacturing methods with broader application to the sustainable energy sector as a whole.
While traditional nuclear power holds immense promise, could the real game-changer on the horizon be nuclear fusion? Long the holy grail of energy research, fusion offers the potential for virtually limitless, clean energy with minimal waste. Recent breakthroughs and collaborations in the field of nuclear fusion do now seem to be paving the way for commercialization within the next two decades. With projects like ITER and private ventures, the fusion dream is inching closer to reality, offering a tantalizing glimpse into a truly sustainable energy future.
As the nuclear industry forges ahead, it’s imperative to navigate the intellectual property landscape with care and foresight. Collaborative efforts, open innovation and responsible licensing agreements will be essential to ensure that progress is both swift and equitable. Balancing the need for proprietary protection with the imperative to share knowledge will be key to maximizing the potential of this industry, while achieving the necessary progress to secure net-zero.
As we conclude this series, it’s clear that the nuclear industry is set to play a key role in the energy transition. We’re proud to support those with the vision to look beyond how things are now towards how much better they could be in the future. We relish our ongoing opportunities for working with any start-up, multinational or institution looking to protect its IP, take new inventions to market and deliver in their mission of creating a cleaner, more sustainable world.
Read the full series below:
Powering Tomorrow #1: Nuclear’s Behind-the-Scenes Influence
Powering Tomorrow #2: Powering Towards the Fusion Era
Powering Tomorrow #3: Modular reactors mark renaissance for nuclear patent filings
Powering Tomorrow #4: Nothing new under the sun – a history of nuclear innovations
This article is for general information only. Its content is not a statement of the law on any subject and does not constitute advice. Please contact Reddie & Grose LLP for advice before taking any action in reliance on it.
