Nuclear tech firm faces uncertain future after entering administration

Moltex Energy has collapsed into administration after failing to secure shareholder approval for new investment or asset sales.

The Stratford-upon-Avon-based nuclear technology company appointed Jonathan Amor and Richard Oddy of Azets as joint administrators on 17 March.

Founded in 2016, Moltex Energy develops nuclear reactor technologies designed to provide clean energy at a lower cost than coal or gas.

The company has two subsidiaries: Moltex Energy Canada and MoltexFLEX.

While Moltex Energy has gone into administration, both subsidiaries will continue to operate as normal.

A spokesperson for Moltex Energy said: “Following the failure to achieve the majority shareholder consent to new investments in Moltex Energy, or the sale of its assets, the directors of the company have resolved to place the Company into administration.

“The strategy of the administrators is to market the business and assets of the company for sale, including the intellectual property and shareholdings of the subsidiary operations. The intention is to seek an acquirer that is well-positioned and suitably funded to develop the technology interests of the company further for the benefit of all stakeholders.”