Moltex Energy

What Moltex Energy does

Moltex Energy is an advanced nuclear technology company headquartered in Saint John, New Brunswick, Canada, developing an integrated suite of three technologies designed to close the nuclear fuel cycle: the Stable Salt Reactor – Wasteburner (SSR-W), a 300 MW passively safe fast neutron reactor that consumes transuranic elements from used nuclear fuel; WATSS (WAste To Stable Salt), a pyrochemical process that converts spent CANDU and other uranium-oxide fuel into stable salt reactor fuel without separating pure plutonium; and GridReserve, a thermal energy storage system that enables the SSR-W to dispatch up to 600 MW of turbine power for 12 hours or 900 MW for 8 hours from a 300 MW reactor. Moltex is operating as a pre-revenue IP and licensing company targeting provincial and national electric utilities (anchor partner NB Power for the Point Lepreau site in New Brunswick), federal and provincial governments, and Indigenous communities, with revenue modeled on long-term licensing fees, royalties, electricity sales via power purchase agreements, and consultancy on nuclear waste liability. The company was founded in 2012 by Ian Scott and John Durham in the UK, expanded to North America in 2018 under CEO Rory O'Sullivan, and is positioned to deploy its first commercial reactor in New Brunswick in the early-to-mid 2030s subject to Canadian Nuclear Safety Commission licensing milestones (Vendor Design Review Phase 1 completed; WATSS pre-licensing consultation initiated April 2025).

Name

Moltex Energy

Legal name

Moltex Energy Canada Inc.

Website

https://moltexenergy.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Moltex Energy is a private Canadian nuclear technology company developing the SSR-W fast reactor, WATSS fuel recycling process, and GridReserve thermal storage to convert spent nuclear fuel into clean electricity for utilities, governments, and Indigenous partners, with NB Power as its anchor deployment customer at Point Lepreau, New Brunswick.

Ownership category

akta.pro rank

Product category

Advanced Nuclear Reactors

NAICS

Nuclear Electric Power Generation (221113), Hazardous Waste Treatment and Disposal (562211)

SIC

Services-Commercial Physical & Biological Research (8731), Hazardous Waste Management (4955)

akta.pro primary industry

Nuclear Waste Management & Geological Disposal (EUACADAM)

akta.pro secondary industry

Spent Fuel Management Engineering, Consulting & Digital Tools (Thermal/Shielding/Criticality, QA) (EUAKAHAL)

Keywords

• Advanced nuclear reactors
• Spent fuel recycling
• Small modular reactors
• Thermal energy storage
• Nuclear technology licensing

Headquarters

HQ city

Saint John

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Technology Licensing: Moltex is an IP company that develops and licenses its nuclear technologies (SSR-W, WATSS, GridReserve) to utilities, governments, and engineering firms. Revenue is generated through licensing fees and royalties from the deployment of its proprietary reactor and recycling technologies.
2. Electricity Sales (via utility partnerships): Once operational, the SSR-W reactors will generate and sell electricity to utility partners (e.g., NB Power). The reactor is designed to produce electricity at a lower cost than the average cost of electricity in New Brunswick, making it competitive with combined-cycle gas plants. Revenue flows from long-term power purchase agreements with utilities.
3. Nuclear Waste Consultancy Services: Moltex offers consultancy services to nuclear waste owners, providing expert guidance to assess and mitigate liability risks. Waste owners can explore whether their used fuel liabilities can be turned into assets through the WATSS process.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels9 records

Core offering

Moltex Energy develops and licenses an integrated suite of advanced nuclear technologies: the SSR-W (Stable Salt Reactor – Wasteburner), a 300 MW passively safe fast neutron reactor that burns transuranic elements from spent nuclear fuel; WATSS (WAste To Stable Salt), a pyrochemical process that converts spent CANDU and other reactor fuel into stable salt fuel without producing pure plutonium; and GridReserve, a thermal energy storage system that stores and dispatches reactor heat to the grid on demand. The company also offers nuclear waste consultancy services to assess and mitigate used-fuel liability risks for waste owners.

Product overview

Moltex Energy offers an integrated suite of three complementary nuclear technologies designed to recycle spent nuclear fuel and generate clean energy. The core offering consists of the SSR-W (Stable Salt Reactor – Wasteburner), a fast reactor that consumes recycled nuclear waste as fuel; WATSS (WAste To Stable Salt), a pyrochemical process that converts spent fuel into reactor-ready fuel while reducing waste volumes by up to 80%; and GridReserve, thermal energy storage tanks that enable the SSR-W to function as a dispatchable peaking plant supporting renewable energy integration. The company's UK-based sister company MoltexFLEX also offers the FLEX reactor, a modular molten salt reactor for flexible multi-purpose operation. Together, these technologies enable a closed nuclear fuel cycle approach where waste from conventional reactors becomes fuel for advanced reactors.

Differentiator

Problem solved

Functional benefit

Products and services

• SSR-W (Stable Salt Reactor – Wasteburner) A 300 MW fast neutron reactor that uses recycled nuclear waste as fuel. The SSR-W is passively safe, operating at atmospheric pressure with self-damping temperature characteristics. Most dangerous fission products are contained as salts rather than gases, eliminating atmospheric release risk. The reactor consumes transuranic elements from spent nuclear fuel, reducing waste stockpiles while generating clean electricity, and is licensed to utilities and governments.
• WATSS (WAste To Stable Salt) A pyrochemical recycling process that converts spent nuclear fuel from CANDU and other reactors into stable salt fuel for the SSR-W. WATSS extracts transuranic elements without separating pure plutonium, making the process simpler, safer, and less expensive than conventional reprocessing. Successfully validated with real irradiated CANDU fuel, achieving over 77% transuranic extraction initially and over 95% in follow-on testing.
• GridReserve Thermal energy storage system that stores heat from the SSR-W reactor in tanks and dispatches it to the grid on demand. Enables the SSR-W to act as a peaking plant, with a 300 MW SSR-W plus GridReserve able to drive 600 MW of turbines for 12 hours per day or 900 MW for 8 hours per day, complementing intermittent renewables.
• Nuclear Waste Consultancy Services Professional advisory service for nuclear waste owners, providing expert guidance to assess whether their used fuel liabilities can be transformed into assets through the WATSS process and to mitigate nuclear waste liability risks.

Quantifiable outcome

• Over 95% extraction of transuranic material from used CANDU fuel demonstrated
• +6 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Canadian Nuclear Safety Commission (CNSC)coreStrategic or Co-development Partner · 14 April 2025Moltex entered a Service Level Agreement with the CNSC for pre-licensing consultation on the WATSS technology. This agreement establishes a framework for regulatory engagement on safety, security, and safeguards to ensure WATSS meets all requirements before commercial deployment. The CNSC facilitates engagement with the IAEA for international non-proliferation obligations.
• U.S. Department of Energy (DOE) / GAINminorStrategic or Co-development Partner · 28 June 2023Moltex received a US DOE GAIN (Gateway for Accelerated Innovation in Nuclear) voucher for nuclear reactor testing. This enables Moltex to access DOE national laboratory capabilities to advance its reactor technology development.
• SNC-LavalincoreStrategic or Co-development Partner · 13 April 2022Moltex and SNC-Lavalin announced a strategic partnership in April 2022 to advance clean nuclear energy. SNC-Lavalin acquired a minority ownership stake in Moltex and provides project management, engineering, and professional services. Joe St. Julian, President of SNC-Lavalin's Nuclear sector, was appointed to Moltex's Board of Directors. The partnership strengthens Moltex's global outlook for SMR deployment and spent nuclear fuel recycling.
• Pabineau First NationminorStrategic or Co-development Partner · 29 June 2021Moltex signed a Memorandum of Understanding with Pabineau First Nation and the Belledune Port Authority in June 2021 to explore opportunities related to small modular reactors. The MOU aims to advance clean energy projects with Indigenous involvement.
• North Shore Mi'kmaq Tribal Council (NSMTC)minorStrategic or Co-development Partner · 16 June 2021Moltex strengthened its MOU with NSMTC and participated in an SMR workshop series to engage Indigenous communities in the development and deployment of nuclear technology in New Brunswick.
• Ontario Power Generation (OPG)minorStrategic or Co-development Partner · 30 March 2021OPG is collaborating with Moltex to study clean energy solutions. OPG operates 18 of Canada's 19 active nuclear reactors. John Mauti, former OPG CFO, serves on Moltex's Board of Directors, bringing acute knowledge of the Ontario energy industry.
• NB PowercoreStrategic or Co-development PartnerNB Power selected Moltex's SSR-W from over 90 applicants to be one of two reactors built at the Point Lepreau Nuclear Generating Station site. This is Moltex's flagship deployment partnership and the foundation of the company's go-to-market strategy. NB Power and Moltex are working together through the regulatory approval process with the Canadian Nuclear Safety Commission.
• IDOMcoreImplementation/ SI/ Consulting PartnerIDOM Engineering Consulting & Architecture is Moltex's engineering partner, providing nuclear services for the SSR-W design and development. IDOM has worked on over 300 nuclear projects across 21 countries with a team of 300 people in seven offices in North America and Europe. Xabier Ruiz, IDOM's Nuclear Services Director, serves on Moltex's Board as Non-Executive Director.
• CANDU Energy Inc. (AtkinsRéalis)coreImplementation/ SI/ Consulting PartnerCANDU Energy Inc., an AtkinsRéalis company, is a key engineering partner supporting the development of WATSS and SSR-W technologies. The partnership leverages CANDU's deep expertise in Canadian nuclear technology, particularly for the CANDU fuel recycling process.
• Canadian Nuclear Laboratories (CNL)coreStrategic or Co-development PartnerMoltex has partnered with Canadian Nuclear Laboratories to validate the WATSS process using real irradiated CANDU fuel in hot cells at the Chalk River facilities. CNL conducted state-of-the-art experiments demonstrating over 77% transuranic extraction from real used fuel, with follow-on testing showing >95% extraction.
• University of New Brunswick (UNB)minorStrategic or Co-development PartnerMoltex has partnered with UNB for nuclear energy research and education. The company supports STEM programs and has worked with UNB's Centre of Excellence for Energy to engage youth during Nuclear Science Week. New funding was announced in March 2023 to support next-generation nuclear research at UNB.
• JacobsminorImplementation/ SI/ Consulting PartnerJacobs, a global engineering and technical services firm, has worked with Moltex to develop its technologies as part of the broader partner network supporting the SSR-W project.
• KinectricsminorImplementation/ SI/ Consulting PartnerKinectrics, a leading provider of nuclear engineering and asset management services, has collaborated with Moltex on technology development and analysis.
• WorleyminorImplementation/ SI/ Consulting PartnerWorley, a global professional services company, has partnered with Moltex on the development of its nuclear technologies.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Oklo: US-based advanced reactor company developing the Aurora powerhouse, a fast reactor that can use spent fuel as feedstock. Pursues overlapping utility customers and recycling-focused value proposition with public-market access (NYSE: OKLO).
• NuScale Power: US-based SMR developer with the only NRC-certified small modular reactor design (VOYGR). Competes for utility customers and government funding in the same advanced reactor market segment.
• TerraPower: Bill Gates-backed advanced reactor developer building the Natrium sodium fast reactor with spent fuel recycling capabilities. Pursues overlapping customers (utilities, governments) with a similar waste-burning fast reactor value proposition and far greater capital resources.
• X-energy: Developer of the Xe-100 high-temperature gas-cooled SMR. Competes in the same advanced reactor category targeting utilities and decarbonization of industrial heat, with substantial DOE and private funding.
• Terrestrial Energy: Canadian company developing the Integral Molten Salt Reactor (IMSR), a different molten salt reactor design. Pursues similar utility and government customers with comparable passive-safety molten salt technology targeting the SMR market.
• ARC Clean Technology: Canada-based developer of the ARC-100 sodium-cooled fast reactor. Selected alongside Moltex's SSR-W to deploy at NB Power's Point Lepreau site, making it the closest head-to-head competitor for the same anchor customer and regulatory pathway.
• Kairos Power: Developer of the KP-FHR fluoride salt-cooled high-temperature reactor with iterative testing approach. Competes in molten salt SMR market with overlapping passive-safety design philosophy and DOE engagement.

Broad incumbents

• GE Hitachi Nuclear Energy: Joint venture developing the BWRX-300 boiling water SMR, an established nuclear incumbent pursuing similar utility customers. Offers licensing, fuel, and services across the full reactor lifecycle, providing competitive reference for Moltex's offering.
• Westinghouse Electric: Established global nuclear vendor offering the AP1000 and eVinci micro-reactor. Moltex's Chair is former Westinghouse CEO, signaling deep industry overlap, and Westinghouse competes for the same utility deployment contracts at much larger scale.
• CANDU Energy (AtkinsRéalis): Subsidiary of AtkinsRéalis (formerly SNC-Lavalin) and existing Moltex partner. Owns the CANDU reactor technology that produces the spent fuel Moltex's WATSS process is designed to recycle, representing both a strategic partner and an established nuclear incumbent in the same ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/moltex-energy
• Instagraminstagram.com/moltexenergy
• Xx.com/moltexenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Moltex Energy