New York Nuclear Corporation (NYNCO) has supplied brokerage services to the commercial nuclear power industry since 1982 and has concluded transactions involving millions of kilograms of uranium oxide, uranium hexafluoride, conversion services, and enrichment services (SWU). Its worldwide client list includes most nuclear utilities as well as worldwide nuclear fuel producers, processors and traders.

The nuclear fuel market is composed of uranium in various forms comprising a complex supply chain. The product of uranium mining is U3O8 in a powder form, or yellowcake. The U3O8 is shipped to a conversion facility, where it becomes UF6 which is a crystalline solid at room temperature. From there it is shipped in cylinders to an enrichment facility, where the percentage of U-235 is increased from natural (0.711%) up to 5%. Then it is shipped to a fabricator where UF6 is converted to UO2, sintered into pellets, and inserted into fuel rods. The rods are combined into bundles and then shipped to nuclear power plants to be loaded into reactors.

Nuclear Fuel Supply Chain

Joe McCourt is the President and co-founder of NYNCO. He has a thorough knowledge of the nuclear fuel business, having visited and done business with most of the uranium production centers, conversion facilities, enrichment facilities and fabricators worldwide.

In addition to the commercial side of the business, he has in depth knowledge of the engineering and financial aspects of the nuclear fuel industry.

Prior to co-founding NYNCO in 1982, Joe was a nuclear fuel buyer for American Electric Power, a lending officer for Citibank Energy Group, a nuclear fuel broker for Transnuclear and a nuclear design engineer.

He holds a Bachelor of Science in Mechanical Engineering and a Master of Engineering (Nuclear) from Cornell University, and an MBA from the Wharton School of the University of Pennsylvania.

Danny Einbund is Vice President and co-founder of NYNCO. He joined the nuclear fuel industry in 1981 as Counsel, Nuclear Fuel Services in Transnuclear, Inc. in New York and later was one of the founding members of Nukem, Inc. Danny has been active in all areas of nuclear fuel brokerage. Mr. Einbund is a lawyer admitted to the Bar of the State of New York. He has made many presentations at industry conferences, and has taught law courses in the International Law School at the University of Montpellier. He was a member of the Executive Board of the Uranium Institute and has participated in a number of industry committees and working groups.

Alexandr Gagarin is NYNCO’s Asian Representative. He has a thorough knowledge of nuclear fuel fabrication, having visited most fuel fabricators worldwide and discussed powder, pellets and specifications.

Mr. Gagarin spent most of his career at the Ulba Metallurgical Plant in Ust-Kamenogorsk, Kazakhstan. He had more than 15 years’ experience working as Head of Research Department, Chief Engineer of the Plant, Head of Strategic and Commercial department. Prior to joining NYNCO in April, 2015, Mr. Gagarin was General Manager of Ulba-Conversion LLP, a joint venture of the Ulba Plant in Kazakhstan and Cameco.

Mr. Gagarin holds an engineering degree from Moscow Chemical Technological Institute.

Nancy Passarelli is NYNCO’s Administrative Manager since 1985. Prior to working for NYNCO, Nancy was employed by Citibank in New York City.