Nuclea Energy acquires Moltex nuclear portfolio

Nuclea Energy Inc. has entered into a definitive agreement to acquire OVO Energy's advanced nuclear technology portfolio, including the WATSS used nuclear fuel recycling process, the Stable Salt Reactor-Wasteburner (SSR-W), and FLEX reactor technologies. The acquisition follows a competitive bidding process and is structured as an asset purchase from OVO Energy Limited, which entered administration in March 2025. The portfolio includes 80 granted patents across nine patent families and nine pending patents, developed with over C$96 million in funding from private and public sources in Canada and the U.S. The transaction is subject to closing conditions, including approval under the UK's National Security and Investment Act 2021. Nuclea plans to retain OVO Energy Canada as a research and development entity. This acquisition expands Nuclea's portfolio beyond its Morpheus microreactor into advanced modular reactors and fuel recycling, aligning with growing global interest in nuclear energy and spent fuel recycling.