Al -Hilal for emerging projects invests $ 100 million in "Alo Atomix" American
Sharjah, on August 20/ WAM/ Al -Hilal announced the startups of Al Hilal Projects Company, its participation in a 100 million dollar financing tour (B) to support the leading American company “Alo Atomics” in the field of nuclear technology.
This tour came under the leadership of “Valor Ecuetti Partners”, and with the participation of Al Hilal for emerging projects and a number of investment authorities with the aim of enabling “Alo Atomics” to accelerate the development of its normative nuclear technology, which was chosen by the US Department of Energy to conduct urgent tests, in preparation for the test of the nuclear forest for its reactor by July 2026, and providing artificial intelligence data centers With energy.
Sodershan Barric, the first vice president in Al Hilal for emerging projects, stressed the importance of this step in supporting a new driving of clean and expandable nuclear energy, pointing to the growing role that nuclear energy will play in meeting the increasing demand for energy, as a result of the rapid growth of artificial intelligence technologies.
Matt Luzak, CEO of Alo Atomics, explained that funding will contribute to the construction of the first advanced nuclear plant in the United States, expressing his gratitude to investment partners for their support, and expected to start the station in the summer of 2026.
This initiative comes in light of the growing global interest in small nuclear nuclear reactors, as it is a sustainable solution to meet the accelerated demand for energy, especially with the expectations of the International Energy Agency to increase electricity consumption by artificial intelligence data centers by more than four times by 2030.
It should be noted that Al -Hilal for emerging projects runs a variety of investments in the areas of advanced technology and artificial intelligence, which reflects the UAE’s commitment to supporting innovation and promoting strategic international cooperation.
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