Rapidly growing demand for reliable, low-carbon electricity, heightened focus on energy security and increasing interest in closing the nuclear fuel cycle are creating new opportunities for advanced nuclear technologies.
Nuclea Energy, a technology-driven nuclear energy company, is set to acquire Moltex Energy’s advanced nuclear technology portfolio. This follows a competitive bidding process that attracted significant interest in the company and its technologies.
The agreement comes at a time of renewed global momentum for nuclear energy. Governments and nuclear operators are increasingly examining the potential to recover the considerable energy and material value remaining in used nuclear fuel.
The deal represents an important next step for a technology platform developed over more than a decade, encompassing Moltex’s Waste to Stable Salt (WATSS) used nuclear fuel recycling process, Stable Salt Reactor – Wasteburner (SSR-W) and FLEX reactor technologies.
Rory O’Sullivan, CEO of Moltex Energy, says this is an important recognition of the value created by their team, shareholders, partners and supporters over more than a decade.
“The timing could hardly be better: nuclear energy is experiencing extraordinary momentum globally, and used nuclear fuel is increasingly being recognized not simply as a waste liability, but as an enormous strategic energy resource. Nuclea provides a strong platform from which to build on what we have achieved and take these technologies into their next phase.”
Josef Freundorfer, CEO of Nuclea Energy, stated that Nuclea sees considerable long-term potential in the technology and expertise developed by Moltex.
“The acquisition will add an important advanced reactor and nuclear fuel-cycle platform to Nuclea as we build a broader portfolio of technologies for the rapidly expanding nuclear market.”
Moltex’s technologies have been developed with the support of governments, utilities, laboratories and engineering partners in Canada, the United States and internationally. Recent development of WATSS has included successful testing with real used CANDU fuel at Canadian Nuclear Laboratories.
As per the agreement, Nuclea Energy Canada Inc. will acquire the relevant Moltex technology assets and subsidiaries from Moltex Energy Limited.
Completion remains subject to certain closing conditions, including the required approval under the United Kingdom’s National Security and Investment Act 2021.
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