ENEC and newcleo sign memorandum of strategic cooperation to explore developing nuclear projects globally
24.02.25
- ENEC and newcleo to explore opportunities for co-investment and development of nuclear energy projects in Europe
- Companies to study deployment of newcleo’s LFR technology to decarbonize hard-to-abate sectors in the MENA region.
The Emirates Nuclear Energy Company (ENEC), and newcleo have announced the signing of a memorandum of strategic cooperation to explore the use of newcleo’s European Lead-Cooled Fast Reactor (LFR) for projects in Europe and the MENA region.
ENEC has demonstrated proficiency in new nuclear build having developed and completed 4 APR-1400 reactors of the Barakah Nuclear Energy Plant, the UAE’s largest source of clean electricity, in just over 10 years. Newcleo is a frontrunning new nuclear energy company which is actively progressing licensing in Europe of its Lead Fast Reactor technology capitalizing on over 30 years of R&D expertise.
The Memo aligns with ENEC’s growth plans in new and advanced nuclear energy technology investment and deployment, combining ENEC’s operational expertise with newcleo’s groundbreaking technology thus potentially creating significant value for both organizations and the broader energy landscape.
Under the Memorandum of Strategic Cooperation (MoU) signed today in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Italian Prime Minister Giorgia Meloni, the two companies will collaborate to explore opportunities to work together to support the advancement of 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 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.
His Excellency Mohamed Al Hammadi, Managing Director and CEO of ENEC, said: “ENEC’s signing with newcleo today will strengthen our 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 Program for SMRs and advanced reactors. This marks a significant step in ENEC’s journey to become a global partner of transformation, committed to enhancing energy security, driving economic resilience, and contributing to a sustainable future through safe and reliable civil nuclear solutions.”
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. After the successful management of the Barakah project in UAE, that demonstrated how large nuclear projects can be delivered on time and on budget, ENEC is our ideal partner to explore the use of AMRs for the energy consuming industry. This Memorandum combines ENEC’s operational expertise with newcleo’s groundbreaking technology by creating significant value. It 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 organizations 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.