Moltex: crowd funding success!

The public has given Nuclear technology a ringing endorsement following a world-first and over-subscribed crowdfunding campaign for  Moltex Energy.

We have just closed an investment round, including crowd-funding through the Shadow Foundr platform, raising funding for our entirely new fission technology. The round closed at its maximum of £6m against a target of £4m, with nearly half of that figure contributed by around 170 investors in the first crowdfunding campaign for nuclear fission in the world.

With the UK pledging to be net zero carbon economy by 2050, intermittent renewable sources cannot do the whole job alone: a variable power source is required to bridge the gap between supply and demand. Today that source is gas. Moltex’s new fission technology has a variable output and can replace gas in the national grid, making zero carbon electricity generation a reality.

Zero carbon is one thing, but electricity also has to be cheap. Fossil fuels will finally be displaced when the alternatives are cheaper, and Moltex offers exactly that too – electricity generated from abundant sources, carbon-free, for less than the cost of coal or gas. What’s more, cheap electricity will speed up the decarbonisation of heating and transport.

In a sign the general public is recognising the real potential of nuclear energy in the fight against climate change, investor-appetite saw the initial funding target of £4m achieved in less than a week, with Moltex closing the round soon after, £2m over-subscribed at £6 million.

Simon Newton, Business Development Director at Moltex, said, “Moltex is pioneering a different form of nuclear power generation; it’s fission, but not as the world knows it. Our plants are  inherently safe, very cheap and will use up the stockpiles of nuclear waste generated by the current industry. We’re delighted to have so many new investors supporting our mission both to tackle climate change and reduce energy prices.” 

Jason Kluver, COO at Shadow Founder, added, “A large number of individual investors have seen the potential and are willing to put their money behind their convictions. We must take action to combat climate change now, and Moltex has a technology that can make a significant contribution. This was the first crowd-funding campaign for nuclear fission anywhere in the world and one of the largest campaigns for any business this year. Shadow Foundr and its investors were extremely proud to be involved with it.”

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