Following last week’s record webinar attendance, Moltex Energy has captured the minds of investors, with the company already passing its initial £4m target.
In fact, including pledges, which do not show up on the platform, the raise is now up over £4.2m; boosted by a £2.5m corporate investment from Nuclear Energy Consultancy firm, IDOM.
Management has said they will over-fund this current round, however they are also waiting on the imminent outcome of the UK Government’s Advanced Modular Reactor programme, which could potentially see the company awarded between £5m and £10m in grants.
Moltex will likely close this round soon, as its target has been achieved. Further developments, including the potential award of government grants in the UK and more licensing progress in Canada, will support a higher valuation in a future funding round.
Moltex Energy has fully patented technology they believe makes nuclear energy safe and cost-effective to produce; and could ultimately take away our dependence on fossil fuels, completely.
Their Stable Salt Reactor (SSR) is fundamentally the first new nuclear technology in half a century, allowing nuclear energy plants to be built for half the cost of a coal-fired equivalent; preventing potential meltdowns; and converting existing nuclear waste into fuel for future nuclear energy.
Boasting an extremely impressive management and advisory team, Moltex has support from the UK, USA and Canadian governments – New Brunswick Power, the utility that has signed an MOU with Moltex, is a Canadian government-owned utility.
The company also has good relationships with the governments of France and Malaysia, with a view to securing future contracts in those territories.
You can listen to the Moltex pitch and download more information about the company by clicking here.