Nuclea Energy agreed to buy Moltex Energy’s advanced nuclear technology assets. Moltex is currently in administration, and Nuclea is paying for the portfolio in cash.

Moltex spent over a decade and more than CAD $96 million ($69,287,520 USD) developing these technologies. They had backing from private investors and government programs in Canada and the U.S. Now, Nuclea is stepping in to take over the work.

Buying Advanced Nuclear

Rendition of Stable Salt Reactor-Wasteburner; Photo: Nuclea Energy

Nuclea is already working on the Morpheus microreactor, a small, factory-built reactor meant for data centers, mining sites, and remote towns. This new deal gives them a lot more to work with.

They are acquiring 80 patents and a few major projects. First is the SSR-W, a larger reactor designed to generate 300 to 500 megawatts of power. Instead of typical solid fuel, it uses recycled nuclear material as a fuel salt kept inside pins.

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They are also getting a process called WATSS. This is designed to recycle used nuclear fuel so it can power reactors like the SSR-W. It was recently tested with real used fuel at Canadian Nuclear Laboratories. Finally, they get the FLEX reactor, which runs on commercially available low-enriched uranium.

These technologies need a lot more engineering, funding, and regulatory testing before they hit the market.

Closing the Deal

If the deal closes, Nuclea will have options for big grid power and a way to recycle spent fuel. Josef Freundorfer, Nuclea’s Chief Executive Officer, explained the plan.

“We believe the nuclear sector is entering a sustained period of strategic investment driven by the increasing competition in nuclear developments between east and west, energy security, grid reliability, industrial electrification and growing demand for large volumes of dependable, low-carbon power driven by the new digital age,” said Freundorfer. “This agreement is designed to broaden Nuclea’s position within the nuclear sector by adding a pair of advanced reactor designs and nuclear fuel-cycle technology that are complementary to our Morpheus microreactor. Importantly, this is an asset-led transaction at what we believe is a disciplined entry point, with future capital deployment governed by clearly defined technical, regulatory and commercial milestones.”