As a winner, MoltexFLEX will send a representative to United Arab Emirates to attend a high-profile programme of events in Dubai and Abu Dhabi later this month. During this visit, they will meet a selected group of venture capital investors to seek investment in the next stage of development of the company’s innovative FLEX molten salt reactor technology.
Led by the UK Department for Business and Trade and supported by Octopus Investments, GBOT spotlights early-stage companies that are the best-placed to help the UK boost the green economy and speed up the country’s transition to net zero. After a hugely successful debut in 2022, GBOT is now in its second year.
The investment meetings in UAE align with the country’s role in hosting COP28 later in the year. As part of the UAE-UK Sovereign Investment Partnership, the UAE is investing £10 billion in UK clean energy, technology, life sciences and infrastructure.
A joint UK-UAE panel of industry experts reviewed each applicant, all of which were deemed to be of high quality. MoltexFLEX was selected as the judges agreed that the company’s FLEX modular molten salt reactor and GridReserve storage system were innovative, scalable and have huge market potential in the UAE.
“We are delighted to be named as a GBOT winner for 2023, and to be flying the flag for British clean energy companies in the UAE,” said MoltexFLEX CEO David Landon. “It underscores MoltexFLEX’s mission to create low-cost, carbon-free energy not just in the UK but around the globe.”