Nuclea Energy to Acquire Moltex Advanced Nuclear Technology Portfolio

Moltex Energy announced on August 13 that Nuclea Energy Inc. has signed a definitive agreement to acquire its advanced nuclear technology portfolio. The transaction was concluded following a competitive bidding process, with the relevant technologies and company assets having attracted interest from multiple parties earlier.

The proposed technology platform, developed over more than a decade, encompasses the "Waste-to-Stable Salt" (WATSS) spent fuel recycling process, the Stable Salt Reactor – Wasteburner (SSR-W), and FLEX reactor technology. The portfolio includes 80 granted patents across 9 patent families, as well as 9 pending patents related to the WATSS recycling process. Related research and development has received funding from private sources and public sector support in Canada and the United States, totaling more than CAD 96 million.

Moltex stated that growing global demand for stable, low-carbon electricity, heightened energy security concerns, and increased attention to closed nuclear fuel cycles are creating new opportunities for advanced nuclear technologies. Governments and nuclear power operators are also evaluating the potential to recover residual energy and material value from spent fuel. The WATSS technology has been developed precisely in this direction, aiming to provide a scalable pathway for spent fuel recycling, reduce long-term waste inventories, and produce fuel for advanced reactors.

Moltex's technologies have previously received support from government departments, utilities, laboratories, and engineering partners in Canada, the United States, and other countries. Recently, the WATSS process has been tested at Canadian Nuclear Laboratories using real CANDU spent fuel.

Under the agreement, Nuclea Energy Canada Inc. will acquire the relevant technology assets and subsidiaries from Moltex Energy Limited, which is currently under insolvency administration. Completion of the transaction remains subject to certain closing conditions, including obtaining the required approvals under the United Kingdom's National Security and Investment Act 2021.

Upon completion of the transaction, Nuclea Energy plans to retain Moltex Energy Canada as a business entity focused on research, engineering, and regulatory development, continuing to advance the subsequent development of the acquired technologies.