Overview

TechPrecision supplies commercial nuclear work by producing parts used in power plants, or products that are used to store and/or transport nuclear material. With over 25 years of experience, TechPrecision’s wholly-owned subsidiary – RANOR, Inc. maintains a quality assurance program, together with Certificates of Authorization issued by the American Society of Mechanical Engineers (ASME) for the design and construction of Code Stamped equipment; and the manufacture of nuclear safety related equipment, parts, and nuclear storage and transport equipment. Due to our unique position and qualifications, we expect to benefit from the global resurgence in nuclear power plant construction.

Industry Trends

Concerns about rising electricity demand, clean air, and natural gas price volatility are among the factors behind the renaissance in the commercial nuclear industry. The US Department of Energy projects that the United States will need 40% more electricity by 2030. Concern about air pollution is leading to increasingly tight restrictions on emissions of sulfur dioxide, nitrogen oxides and mercury. The federal government is also considering regulation of emissions of carbon dioxide, the principle greenhouse gas. Nuclear energy produces none of these greenhouse-gas emissions. The nation's 104 nuclear power plants have an excellent track record operating at high levels of safety, reliability and affordability. Several current owners and utilities are preparing and submitting for new-build license approval from the Nuclear Regulatory Commission (NRC). According to the Nuclear Energy Institute, as of February 2009, 30 countries were operating 436 nuclear reactors for electricity generation and 45 new nuclear plants were under construction in 14 countries.

Aside from industry growth in the form of new plants, developments in nuclear technology are changing how current facilities are run. Currently, used nuclear fuel is stored at the nation's nuclear power plants in the spent fuel pools, or in massive, airtight steel and concrete-and-steel canisters. The federal government plans to develop advanced recycling technologies to take advantage of the vast amount of energy in the used fuel.