A midsize startup in the push to develop nuclear microreactors filed for bankruptcy Tuesday, raising more questions about the future of advanced nuclear energy.
Oak Ridge, Tennessee-based Ultra Safe Nuclear (USNC) filed for Chapter 11 bankruptcy in the U.S. District of Delaware, leaving its more than 1,000 creditors like Hyundai, the University of Illinois, the Canadian government, the Massachusetts Institute of Technology, Siemens and Oracle in limbo to get their investments back.
“After carefully exploring all available options, we have decided that this court-supervised sale process offers the best path forward while ensuring continuity across our key technology initiatives,” Kirk Edwards, chair of USNC’s board of directors, said in a press release.
The filling continues a series of back-and-forth good and bad news for advanced nuclear technology.
