Orano - Annual Activity Report 2024 46 2 SITUATION AND ACTIVITIES OF THE COMPANY AND ITS SUBSIDIARIES DURING THE PAST FINANCIAL YEAR Research and Development activities 2.4 Research and Development activities The group’s main Research and Development programs during the 2024 financial year focused on: ● the continued improvement of mining techniques; ● optimization of the operation of conversion plants as well as studies for the laboratory enrichment of stable isotopes; ● for treatment-recycling, the long-term sustainability of current treatment facilities and preparation for the future (in particular studies on the new solvent and other innovative processes such as voloxidation) as well as maintaining and improving the performance of current plants working with other industrial partners, Orano is conducting studies on a molten salt reactor to recycle plutonium and minor actinides, as well as reflections on the manufacture and processing of MOX RNR fuels; ● the development of new shipping casks for nuclear materials and waste; ● the development of methods and tools to support dismantling operations; ● the recycling of critical materials contained in lithium batteries for electric cars and permanent magnets, as well as the manufacture of cathode materials; ● the development of radionuclides for alpha-therapy and auger therapy medical applications. Key figures Research and Development expenses are capitalized on the statement of financial position if they meet the capitalization criteria established by IAS 38 and are recognized as Research and Development expenses if they do not. In the statement of income, Research and Development expenses appear under gross margin and represent non-capitalizable expenses incurred exclusively by the group. Expenses relating to programs funded wholly or partially by customers, together with projects carried out in partnerships where Orano has commercial rights of use of the results, are recognized in the cost of sales. The total Research and Development expenditure consists of the total amounts spent on Research and Development, whether capitalized or expensed during the financial year. (in millions of euros) Financial year ended December 31, 2024 Financial year ended December 31, 2023 TOTAL 172 121 Number of first patent applications filed 20 21 At December 31, 2024, Research and Development expenses amounted to 172 million euros, i.e., 2.92% of the period’s revenue, up slightly from 2023 (2.53% of revenue). The group filed 20 first patent applications in 2024 and 21 in 2023.
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