Nano Nuclear signed a memorandum of understanding (MOU) with EHC Investment Tuesday to explore a joint venture to deploy its KRONOS microreactor in the United Arab Emirates.
EHC Investment is a UAE investment holding company based in Abu Dhabi that has been around for over 35 years and has 12 subsidiaries, including EHC Energy.
The companies plan to enter into a formal joint venture following securing the first commercial project or order, according to Nano Nuclear’s press release. Nano Nuclear and EHC will additionally explore potential KRONOS microreactor development in select markets across the Gulf region in the UAE, Nano Nuclear said.
Nano Nuclear is currently developing the KRONOS modular microreactor, which is made to be portable and produce up to 15 megawatts of electricity and 45 megawatts of thermal energy.
Under the MOU, which is a non-binding statement of intention, Nano Nuclear will work with EHC to find and analyze opportunities in select regional markets, analyze ways to create a nuclear supply chain and identify potential commercial agreements, Nano Nuclear said.
The two companies will also consider potential end users for Nano Nuclear’s KRONOS reactor, including data centers and industrial facilities.
“We are excited to explore the opportunities this MOU presents for both NANO Nuclear, the UAE and the Gulf region,” Nano Nuclear CEO James Walker said. “We believe the KRONOS MMR™ is well suited to the region, offering scalable capacity to meet growing demand and providing a resilient source of clean energy for power-intensive applications and critical infrastructure.”