INB

What INB does

INB (Indústrias Nucleares do Brasil S.A.) is a Brazilian state-owned enterprise (empresa pública) that exercises the Union's statutory monopoly on uranium production and operates the complete domestic nuclear fuel cycle. The company conducts uranium mining and concentration at the URA facility in Caetité (Bahia), isotopic enrichment, reconversion, uranium dioxide (UO2) powder and pellet production, and fuel element assembly at the Fábrica de Combustível Nuclear (FCN) complex in Resende (Rio de Janeiro). Its primary customer is Eletronuclear, the operator of the Angra 1, Angra 2, and planned Angra 3 nuclear power plants, with whom INB holds direct long-term supply arrangements for nuclear fuel. The company is controlled by ENBPar (Empresa Brasileira de Participações em Energia Nuclear e Binacional) following Decree 11.235/2022 and is linked to the Ministry of Mines and Energy.

INB's business model is that of a vertically integrated state monopoly with a sales-led, government-contracted go-to-market. Revenue is generated through hardware sales of nuclear materials (yellowcake, UF6, enriched uranium, pellets, fuel assemblies) and professional services for nuclear fuel engineering, but specific pricing is not publicly disclosed because contracts are administered within Brazil's regulated state-enterprise framework. The company pursues strategic expansion under the Plano Nacional de Energia (PNE) 2050, which targets 14 GW of installed nuclear capacity and requires roughly 3,000 tonnes per year of uranium output, and is developing the Santa Quitéria Project in partnership with Galvani to add 2,300 tonnes of annual uranium concentrate capacity alongside 1.05 million tonnes of phosphate fertilizer co-production. International technology partnerships with Westinghouse (fuel design) and Amazul (Commercial Uranium Enrichment Unit / UCEU) and financing partnerships with BNDES and the World Bank underpin its capacity-expansion roadmap. The company employs between 1,001 and 5,000 people across sites in Rio de Janeiro, Resende, Caetité, Caldas, Buena, Santa Quitéria, and São Paulo.

Name

INB

Legal name

Indústrias Nucleares do Brasil S.A.

Website

https://inb.gov.br

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

INB is a Brazilian state-owned enterprise that operates the country's complete nuclear fuel cycle — from uranium mining through fuel element assembly — under the Union's monopoly on uranium production, primarily supplying Eletronuclear's Angra nuclear power plants.

Ownership category

akta.pro rank

Product category

Nuclear Fuel Manufacturing

akta.pro primary industry

Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication) (EUACADAK)

akta.pro secondary industries

Uranium Mining & Milling (Yellowcake/U3O8 Production) (EUAKACAB), Uranium Refining & Conversion (U3O8 to UF6/UO2) (EUAKACAC), Uranium Enrichment Services (Centrifuge/Laser, SWU Supply) (EUAKACAD), Fuel Fabrication (UO2 Fuel Pellets, Rods & Assemblies) (EUAKACAF), Fuel Cycle Support Services (Engineering, licensing support, conversion/enrichment contracting) (EUAKACAL)

Keywords

• Nuclear fuel cycle
• Uranium mining
• Nuclear fuel fabrication
• Isotopic enrichment
• Nuclear fuel assemblies

Headquarters

HQ city

São Francisco

HQ country

Brazil

HQ region

Latin America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Nuclear Fuel Production and Supply: INB generates revenue through the production and commercialization of nuclear materials, exercising Brazil's state monopoly on uranium production. The company supplies fuel to nuclear power plants and provides nuclear engineering services.
2. Nuclear Materials Commercialization: Commercialization of nuclear materials and execution of fuel engineering services for domestic nuclear facilities.
3. Fuel Component Production: Production of components for fuel elements and nuclear fuel engineering services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

INB operates Brazil's complete nuclear fuel cycle, exercising the Union's monopoly on uranium production. The company extracts and concentrates uranium ore, converts it to UF6, enriches it isotopically, reconverts it to UO2 powder, manufactures fuel pellets, and assembles nuclear fuel elements delivered to Brazilian nuclear power plants (Angra 1, 2, and 3). Operations span mining, conversion, enrichment, reconversion, pellet production, and fuel element assembly across multiple domestic facilities.

Product overview

INB (Indústrias Nucleares do Brasil) is a Brazilian state-owned company that holds the national monopoly on uranium production. The company's product portfolio centers on the complete nuclear fuel cycle, encompassing uranium mining and concentration (Caetité), isotopic enrichment, reconversion, fuel pellet manufacturing, and fuel element assembly. These operations are conducted across multiple facilities including the Nuclear Fuel Factory (FCN) in Resende, the Uranium Concentration Unit (URA) in Caetité, and the Santa Quitéria Project in partnership with Galvani. The integrated fuel cycle services supply Brazil's nuclear power plants at Angra dos Reis.

Differentiator

Problem solved

Functional benefit

Products and services

• Nuclear Fuel Cycle Services End-to-end nuclear fuel cycle services for Brazilian nuclear power plants, encompassing uranium mining, concentration, conversion, isotopic enrichment, reconversion, pellet production, and fuel element assembly.
• Uranium Mining
• Uranium Conversion
• Isotopic Enrichment
• Fuel Pellet Production
• Fuel Element Assembly

Quantifiable outcome

• Santa Quitéria Project will eliminate need for uranium imports by producing 2,300 tonnes annually
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core, major and supporting.

• Westinghouse Electric CompanycoreStrategic or Co-development Partner · 1 May 2026Long-standing strategic partnership for nuclear fuel design and supply. INB and Westinghouse cooperate on fuel nuclear design and the expansion of Brazil's nuclear fuel production chain. Kevin Askew (Director of Nuclear Fuel Solutions), Chris Wagener (VP Nuclear Fuel Americas), Stephen McKinney (VP Market Americas), and David Chan (VP Market Latin America) participated in discussions to strengthen cooperation for nuclear fuel production chain expansion.
• GalvanicoreStrategic or Co-development Partner · 1 January 2019Public-private partnership for the Santa Quitéria Project, the first uranium mining partnership between a public company and private enterprise in Brazil. Project aims to produce 2,300 tonnes of uranium concentrate annually alongside 1.05 million tonnes of phosphate fertilizers. Galvani handles licensing and community relations while INB manages uranium production.
• ENBPar (Empresa Brasileira de Participações em Energia Nuclear e Binacional)coreOthersENBPar became INB's controlling shareholder in November 2022 following Decree 11.235/2022. The holding company oversees governance of Brazil's nuclear sector including INB and Eletronuclear. Director-President Marlos Costa de Andrade leads efforts to align technical teams with operational realities.
• Amazul (Amazônia Azul Tecnologias de Defesa S.A.)majorTechnology or IntegrationTechnical cooperation with Amazul on the basic project for the Commercial Uranium Enrichment Unit (UCEU) and knowledge management systems. Amazul coordinates with INB on enrichment capacity expansion and human capital retention in highly specialized nuclear functions.
• BCIU (Business Council for International Understanding)supportingGTM or Marketing PartnerNonprofit, nonpartisan organization based in the USA that facilitates dialogue between governments, multilateral institutions, companies and stakeholders. Hosted roundtables in Washington connecting INB with executives from critical minerals and nuclear fuel supply chain markets.

Scale indicators5 records

Recent moves7 records

Expansion highlights2 records

Direct peers

• Orano: French state-owned integrated nuclear fuel cycle company operating uranium mining, conversion, enrichment, and fuel fabrication. Directly comparable to INB as the only other fully integrated state-backed nuclear fuel cycle operator outside Russia, with comparable scope from mining through fuel assembly.
• Cameco: Canada-based uranium miner and nuclear fuel manufacturer, one of the world's largest uranium producers with significant fuel fabrication capacity via Westinghouse. Comparable to INB as a primary uranium concentrate producer and fuel cycle participant, though privately held and globally diversified rather than monopoly-domestic.
• Kazatomprom: Kazakhstan's state-owned uranium mining national champion, the world's largest uranium producer. Comparable to INB as a state-backed uranium mining monopoly focused on in-situ leach extraction; while INB also operates conversion/enrichment/fabrication, Kazatomprom is the closest analog on the upstream monopoly model.
• Rosatom (TVEL Fuel Company): Russian state-owned integrated nuclear fuel cycle company (TVEL is the fuel subsidiary) covering mining, conversion, enrichment, and fuel fabrication for VVER and Western reactors. Directly comparable to INB as a vertically integrated state monopoly serving both domestic and export nuclear fuel markets.
• Westinghouse Electric Company: US-based nuclear fuel designer and fabricator for Western PWR reactors, long-standing strategic partner of INB. Directly comparable as a fuel fabrication peer and partner, supplying nuclear fuel design IP and competing in the global LWR fuel market alongside INB's domestic Brazilian fuel business.
• Framatome: French-owned nuclear fuel fabrication company producing UO2 and MOX fuel assemblies for global PWR and BWR reactors. Comparable to INB on the fuel fabrication leg of the cycle; Framatome supplies fuel internationally and represents the primary Western European competitor to INB-partnered Westinghouse in fuel design and assembly.
• Urenco: UK/Germany/Netherlands-based uranium enrichment consortium operating centrifuge enrichment plants globally. Directly comparable to INB's enrichment operations in Resende, and one of the few non-Russian/non-Chinese commercial enrichment services providers — relevant peer for INB's planned UCEU expansion under Amazul cooperation.
• ConverDyn: US-based joint venture providing uranium hexafluoride (UF6) conversion services at the Metropolis Works facility. Directly comparable to INB's uranium conversion operations, and one of the few North American converters — a useful benchmark for INB's conversion capacity, technology choices, and customer base dynamics.

Broad incumbents

• BWX Technologies (BWXT): US-based nuclear components manufacturer producing naval and commercial nuclear fuel, components, and services. Comparable as a broader nuclear manufacturing incumbent with fuel-related capabilities (especially TRISO and advanced fuels), though BWXT focuses on naval fuel and SMR components rather than full LWR cycle coverage like INB.

Emerging players

• Lightbridge Corporation: US-based developer of advanced metallic nuclear fuel technology for existing and next-generation reactors. Comparable to INB as a fuel-cycle company pursuing differentiated fuel designs for future reactors (SMRs, advanced reactors), though Lightbridge is pre-commercial while INB operates at industrial scale today.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCRcgBVte6JKhwynMh3rDP0g
• Facebookfacebook.com/IndustriasNuclearesdoBrasil
• LinkedInlinkedin.com/company/inb
• Instagraminstagram.com/inb.gov.br
• TikToktiktok.com/@inboficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INB