US nuclear firm targets UAE power plant deal after Iran war delays

What happened

Nano Nuclear signed an agreement with an Abu Dhabi–controlled investment firm in late February to bring small modular reactor (SMR) technology to the UAE for data center and energy infrastructure use. The company had planned to send a team to the UAE immediately after signing but delayed the visit; it now hopes to travel later this year. Talks on a potential Abu Dhabi investment and a possible dual listing in the emirate are at initial stages.

Why it matters

Abu Dhabi is investing billions in artificial intelligence and data centers as it seeks to become an AI hub, creating rapidly growing energy demand. Nano Nuclear and other SMR companies position themselves as a solution to that demand, though the technology remains nascent with only a handful of reactors under construction or operating. A successful deal could accelerate the company's growth and validate the SMR model in a major Gulf market.

What to watch

Nano Nuclear's first US reactor, in Illinois, is set to begin producing power in 2030. The company is listed in the US with a market capitalization of about $1 billion（約1600億円）. The firm has also held talks with the Saudi government about building SMRs in the kingdom.