U.S. Nano Nuclear Energy to invest $230 million in Argentine fuel plant

U.S.-based Nano Nuclear Energy announced a $230 million-plus investment to restart a nuclear fuel facility owned by Argentina's state-run Dioxitek. The deal marks a major expansion of nuclear cooperation between the two countries.

Dioxitek is Argentina's only uranium feedstock manufacturer for nuclear fuel fabrication. The company works with materials used to create fuel for nuclear power plants, which generate electricity without carbon emissions.

Argentina has been actively seeking foreign investment to boost its nuclear sector. In March, the Argentine government presented investment opportunities to more than 50 U.S. companies during meetings focused on nuclear industry partnerships.

The United States and Argentina maintain a formal agreement for peaceful nuclear cooperation, known as a 123 Agreement. This framework allows the countries to share nuclear technology and materials for energy production.

Argentina currently operates nuclear power plants and has been working to extend licenses and build new storage facilities for used nuclear fuel. The country raised $93 million in 2023 for nuclear infrastructure projects.