Yeo Technology announces $60 million investment.

Investment Move from Yeo Technology

Yeo Technology (YEOTK) has decided to invest 60.4 million dollars in ARC Clean Technology, based in the USA. This investment was made in line with the company’s strategy for energy transformation and advanced technology investments.

ARC Clean Technology and Its Goals

The invested ARC Clean Technology develops advanced small modular reactor (aSMR) technologies. Among the company’s goals are the commercialization and global dissemination of the ARC-100, an advanced sodium-cooled fast reactor technology with a capacity of 100 MW e. The activities of ARC Clean Technology are supported by significant institutional stakeholders such as the U.S. Department of Energy, Korea Hydro & Nuclear Power (KHNP), and the Canada-based Hatch.

Importance of aSMR Technology

In a statement made by Yeo Technology, it was emphasized that advanced small modular reactor (aSMR) technologies have the potential to provide low-carbon and continuous energy production. With their modular structures and high safety standards, aSMR technologies are noted to be important complementary technologies for meeting the base load needs in global energy systems.

Potential Collaborations

As part of the investment, YEOTK plans to evaluate potential collaborations with ARC Clean Technology in the integration of aSMR technologies, as well as in engineering and installation fields in Turkey and the region. This step presents a significant opportunity in the pursuit of innovative and sustainable solutions in the energy sector.

Stock Performance

Following the investment announcement, YEOTK shares started to trade at 37.30 TL, up by 2.64% at 10:18. This development seems to have created a positive impact in the markets.