Viaro Energy Is Examining Small Modular Reactor Technology for Industrial Energy

London, UK, September 22nd, 2026, FinanceWire

Viaro Energy announced an update on its strategic partnership, signed a memorandum of understanding with US-based Terrestrial Energy in 2024 to explore the deployment of Integral Molten Salt Reactor technology across the United Kingdom and international markets, positioning the independent upstream company at the forefront of industrial nuclear decarbonisation.

Under the memorandum, the two companies are assessing regulatory, economic, policy and siting considerations, with a view to identifying potential locations and commercial applications. Those applications could include supplying clean, firm power to AI data centers and other energy-intensive industrial facilities.

An Industry Examining a New Fuel

Oil and gas companies have so far met their own energy needs with the commodities they sell. A consortium formed last year is examining whether nuclear could play that role instead. Its founding members include major companies from the oil and gas, mining, and steel sectors, and UK-based independent operators such as Viaro Energy have supported advanced nuclear energy as a route to lower carbon footprints.

The Industrial Advanced Nuclear Consortium is exploring the potential of advanced nuclear to provide process heat and electricity to large industrial users in offshore energy, refining, petrochemicals, and energy-intensive manufacturing sectors.

The consortium recently published a report identifying four application scenarios of greatest potential: maritime heat and power; nuclear cogeneration for refining, petrochemicals and LNG; remote power and heat for oil and gas and mining; and electricity-intensive industrial loads. The report seeks to show "how modular nuclear solutions can be deployed at varying scales and environments, from remote, off-grid operations to large industrial hubs, delivering high-reliability baseload energy - at the same time as reducing exposure to volatile fuel costs and grid instability".

The primary goal of the consortium is to bring together industrial end users to define what they actually need from advanced nuclear, rather than leaving reactor developers to design technologies in isolation. The intent is to make nuclear a viable option for industrial projects by 2030.

The Decarbonisation Problem Behind the Interest

Oil and gas companies face a complex energy challenge: decarbonising their operations while also providing the electricity and heat their industrial facilities need. Gas has historically supplied the heat and electricity required for refineries and petrochemical plants, as well as offshore production platforms, because it has been a reliable energy source. With pressure to reduce industrial carbon emissions, finding a replacement has been challenging.

According to the International Atomic Energy Agency: "Full decarbonisation of energy intensive industries such as chemicals, petrochemicals, cement and paper/pulp would require a far greater increase in clean heat and electricity. The use of intermittent renewables requires a massive expansion of the grid, affecting its stability and resulting in increased system and firming costs. These factors are not aligned with the energy requirements of industry and could severely limit industrial growth."

As a result, advanced nuclear energy, which has no CO2 emissions during operation and one of the lowest lifecycle carbon footprints among power sources, is being supported by energy leaders and experts, including Mazzagatti. The consortium report states that technical developments in small modular reactors (SMRs) and micro modular reactors (MMRs) could make modular nuclear a viable, low-carbon alternative that could be sited near industry to provide reliable baseload heat and power, with the grid and renewables serving complementary roles.

Nuclear companies are increasingly targeting industrial energy demand. For example, Houston-based SMR developer ZettaJoule has said it is designing its first commercial reactor for providing heat and power to oil and gas operations and cites an oil refinery as a potential location.

Executive Comment

"Advanced nuclear has the potential to transform the relationship between energy production and industrial demand," said Francesco Mazzagatti, Founder and Chief Executive of Viaro Energy, which holds working interests representing up to 9% of UK gas production on a gross basis at peak production, according to the firm. "Its ability to provide continuous, low-carbon electricity and industrial heat makes it particularly compelling for sectors where reliability, scale and energy security are non-negotiable."

The partnership with Terrestrial Energy complements Viaro's work across its existing portfolio, where it collaborates closely with operating joint-venture partners to review environmental performance and identify effective emissions-reduction opportunities. At the same time, the company is looking beyond current operations to technologies that can support new areas of industrial growth and strengthen the resilience of the wider energy system.

"Our strategy combines what can be achieved today with the technologies that could reshape the energy market tomorrow," Mazzagatti said. "We are working with our operating partners to support practical improvements across our existing portfolio, while exploring how advanced nuclear could serve the next generation of industrial demand.

"Energy security and decarbonisation should reinforce one another. For a new technology to make a meaningful contribution, it must be reliable, commercially viable and capable of deployment at industrial scale. Our work with Terrestrial Energy is intended to explore that potential, not only for established industries, but also for rapidly growing sources of demand such as AI data centres."

About Viaro Energy

Viaro Energy is a London-based independent upstream oil and gas company founded and led by chief executive Francesco Mazzagatti. The company holds working interests representing up to 9% of UK gas production on a gross basis at peak production, according to the firm, and works with operating joint-venture partners to review environmental performance and identify emissions-reduction opportunities. It is also assessing advanced nuclear technology, including through a memorandum of understanding with Terrestrial Energy.

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