Advanced nuclear technology firm Nuclea Energy, which is merging with telehealth firm Mangoceuticals, is working to acquire Moltex Energy Limited’s nuclear technology assets while also exploring the possibility of deploying its existing nuclear energy solutions at New Mining’s data center sites ahead of its Nasdaq listing.
In a press release issued by Mangoceuticals last week it was announced that Nuclea Energy, through its Canadian subsidiary Nuclea Energy Canada, had entered into a definitive agreement with Moltex Energy Limited to acquire advanced nuclear technology assets across its molten salt reactor and nuclear fuel recycling portfolio. That portfolio includes Moltex’s Stable Salt Reactor-Wasteburner, its next-generation Waste to Stable Salt spent nuclear fuel recycling process as well as an extensive patent portfolio of 80 patents across nine patent families in nuclear fuel, reactor, chemistry, and materials.
“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,” said Josef Freundorfer, Nuclea Chief Executive Officer.
This news comes just a week after Nuclea announced that it had signed a non-binding memorandum of understanding with New Mining to evaluate powering its data center operations with behind-the-meter power nuclear. These needs will be met through Nuclea’s technology located at or adjacent to New Mining’s data center facilities, based on an evaluation conducted by the two parties.
The evaluation will follow a phased approach with the first phase focused on the engineering scope of New Mining’s approximately 30 MWe of data center load. This will be followed by a scalability phase evaluating modular expansion to a cumulative capacity of up to 100 MWe as New Mining’s infrastructure grows.
“The phased approach outlined in this MOU reflects how we like to work: start with a clear-eyed technical assessment of an operator’s actual load profile, and let the data determine whether our technology is the right fit before either side commits to anything further. We look forward to working closely with the New Mining team throughout this evaluation,” said Freundorfer.
At around the same time, Nuclea signed a memorandum of understanding with the State of Utah Office of Energy Development to explore the siting of a nuclear test reactor at the Utah San Rafael Energy Lab to advance development of its Morpheus microreactor.
The Morpheus microreactor is said to be ideal for deployments in harsh environments. It operates at atmospheric pressure, cannot freeze, delivers 3.5 to 50 MW of power from a 3 square meter footprint and only needs refueling every five years. It may be a boon for AI and data center deployments, especially as land becomes a major constraint, pushing developers to explore locations that have ample land but may not have easy access to power.