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U.S. nuclear firm seeks to resume UAE reactor site work
Nano Nuclear aims to restart site selection for small modular reactors in the UAE after delays from the Iran conflict. The company is also discussing potential investment from an Abu Dhabi state-linked firm.
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The firm signed an agreement in late February with EHC Investment, controlled by the International Holding Company, to bring its technology to the UAE for data centers and remote oil and gas facilities.
Investment discussions The company is in early-stage talks with a firm linked to UAE National Security Adviser Sheikh Tahnoon Bin Zayed about potential investment to fund expansion, including the possibility of dual listing in Abu Dhabi. The chief executive said the UAE wants to move quickly on the project but the firm has waited for the conflict to subside before sending teams for feasibility studies.
Timeline and market context Nano Nuclear had planned to send personnel to the UAE immediately after signing the memorandum of understanding but now expects to do so later this year. The company has also held talks with the Saudi government about building small modular reactors in the kingdom.
Its first reactor in Illinois is scheduled to begin producing power in 2030. The firm is listed in the U.S. with a market capitalization of about $1 billion and is one of several companies developing microreactors for commercial use.
