The UK’s National Nuclear Laboratory (NNL) and Pursuit Dynamics plc (PDX) have agreed to set up a joint venture to develop, produce and market products for the global nuclear industry. PDX will take the majority 60% share in the JV, which is due to be established in November 2010, subject to approval by NNL’s shareholders.

The joint venture will focus on addressing the enormous legacy decommissioning issues and future decontamination potential of the global nuclear industry. The companies expect revenues to materialise within the first 18 months.

Head of strategic business development at NNL, Mark Sharpe, said: "NNL is delighted to sign this agreement with PDX to introduce its unique and exciting technology to the UK civil nuclear decommissioning market. We consider the technology to have numerous immediate applications within the decontamination field, developing rapidly across wider nuclear fuel cycle applications."