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Nuclea to acquire Moltex nuclear technology assets
The deal targets molten salt reactor and fuel recycling assets tied to Moltex’s SSR-W program and includes an 80-patent portfolio across nine families.
Nuclea Energy said it entered a definitive agreement to acquire advanced nuclear technology assets from Moltex Energy Limited, which is currently in administration. The acquired portfolio would cover technology across molten salt reactor development and a nuclear fuel recycling program, expanding beyond Nuclea’s Morpheus microreactor.
Nuclea is developing the Morpheus microreactor, a lead-cooled, factory-built micro-modular reactor. The target technologies have been built over more than a decade and were backed by more than C$96 million, drawn from private investment, Canadian public programs, and the U.S. Department of Energy.
Moltex’s SSR-W reactor completed Phase 1 of the Canadian Nuclear Safety Commission’s Vendor Design Review program, and WATSS advanced under a service level agreement with the Canadian Nuclear Safety Commission. Nuclea said the target portfolio is expected to include SSR-W, its Waste To Stable Salt spent nuclear fuel recycling process, and an extensive patent portfolio.
Nuclea also cited contributors to the underlying work, including the Province of New Brunswick, Canada’s Strategic Innovation Fund, the Atlantic Canada Opportunities Agency, and U.S. DOE programs through ARPA-E. The technology was developed with partners such as Ontario Power Generation, Argonne National Laboratory, Oak Ridge National Laboratory, and the Electric Power Research Institute, the company said, adding that it sees continued strategic investment in nuclear tied to energy security and demand for low-carbon power.