The Emirates Nuclear Energy Company (ENEC) has announced a memorandum of strategic cooperation with France-headquartered nuclear start-up newcleo. The agreement, signed in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Italian Prime Minister Giorgia Meloni will explore advanced reactor technologies, sustainable fuel solutions, and global investments, reinforcing ENEC’s commitment to energy security, economic resilience, and a net-zero future.
The two companies will also explore opportunities to work together to support the advancement of lead-cooled fast reactor (LFR) projects and the development of strategies for managing the full life of the reactors, and the closure of the nuclear fuel cycle for European projects.
This will include identifying areas of potential collaboration in investment and deployment of newcleo’s existing projects in Europe, and for the MENA (Middle East North Africa) region, to examine how the LFR reactor technology could support the decarbonisation of hard to abate projects, such as data centres, off-grid applications and hydrogen production. Newcleo’s LFR-AS-200 small modular lead-cooled fast reactor is currently in the conceptual design stage.
ENEC Managing Director and CEO Mohamed Al Hammadi said ENEC’s signing with newcleo will strengthen both businesses through collaboration and shared expertise. “Having successfully brought Barakah Nuclear Energy Plant to full operations last year, this agreement presents a unique opportunity to leverage our capabilities in nuclear development and operations while exploring cutting-edge technologies that enhance our ADVANCE Programme for SMRs and advanced reactors.”
Stefano Buono, Founder and CEO of newcleo, said: “We are proud to have a chance to collaborate with ENEC, both on UAE’s home market, the region and our own European projects, to deploy the next generation of nuclear technology.” He added that the memorandum “is also testament to the importance of advanced modular reactors to decarbonise the world’s energy system. Our joint effort will create opportunities for a new model for cooperation between public and private nuclear energy companies, which could one day be exported beyond our respective markets.”
Furthermore, the organisations will look at opportunities for knowledge transfer through collaboration on innovative approaches to capacity-building programmes and hands-on-training programmes using research reactors and operational facilities.
This is the latest in a growing list of agreements signed by newcleo. While the newcleo website includes a mock-up of the LFR reactor ikt provides very little technical information about the reactor design. However, the company has been very active in fundraising and signing partnership and collaboration agreements. Its business now counts over 90 partnerships, and more than 1,000 employees based in 19 locations across France, Italy, the UK, Switzerland, and Slovakia, including three manufacturing facilities. Since 2021 the company has raised a total of over €537m from institutional and individual investors and has seen an increasing number of European players joining its growing funding base – which to date counts over 700 shareholders.
