USNC adds Waqar Zaidi as SVP Commercial & Structured Financing for Microreactor Deployments
Savvy M&A executive with a 20-year track record in building & financing nuclear, thermal, and renewable power projects poised to accelerate global market adoption of the industry-leading MMR Energy System.
SEATTLE–(BUSINESS WIRE)–#MMR—Ultra Safe Nuclear Corporation (USNC), the U.S.-based global leader in the deployment of fourth-generation gas-cooled microreactors, announces the addition of Waqar Zaidi to an increasingly strong leadership team as Senior Vice President, Commercial and Structured Financing. In this new role, Waqar will drive progress on active deployments of USNC’s Micro-Modular™ Reactors (MMR®) across the globe.
In this integral addition to the Ultra Safe Nuclear leadership team, Waqar will lead commercial strategy development, global commercial deal execution, and project structured financing. He brings more than 20 years of business development and M&A experience to support and accelerate USNC’s growing pipeline of active deployments worldwide. Before joining USNC, Waqar financed and built over $5B in energy projects with such firms as Enbridge, AMEC plc, Babcock and Wilcox. More recently, he advised on renewable energy M&A in North America including investment and development in the $3B European Fund (VCI) in Paris, Dubai and Toronto. Waqar brings deep international project experience to the USNC team.
“Waqar is a strong leader and tremendous asset to help shape Ultra Safe Nuclear’s growing global portfolio of projects and investors,” says Vladimir Novak, chief commercial officer of USNC. “We are committed to opening new markets for reliable, zero-carbon energy through the MMR and that requires proven track-record in leadership in de-risking project financing needed to propel the company forward.”
The MMR is being licensed in Canada and the U.S. and will be the first reactor commercially available as a “nuclear battery.” The MMR Energy Systems are versatile power plants based on USNC’s micro reactors that deliver safe, clean, and cost-effective electricity and process heat to users anywhere. MMR deployments are moving forward, including the project at Chalk River, which is on target for first power in 2026, and the project at the University of Illinois Urbana-Champaign, targeted for first power the following year.
“The MMR is a game-changer to meet global zero-carbon goals beyond the power grid,” says USNC’s CEO Francesco Venneri. “We are eager to forge new paths forward that enable new markets and new customers to leverage the unique advantages of this technology with confidence. Mr. Zaidi will be a great asset to the company in this endeavor.”
About Ultra Safe Nuclear
Ultra Safe Nuclear Corporation, a U.S. corporation headquartered in Seattle, is a global leader and strong vertical integrator of nuclear technologies and services, on Earth and in Space. The company produces the Micro-Modular™ reactor (MMR®), Fully Ceramic Micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration.
The company has active MMR deployment projects at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign. Additional deployments are in development in the United States, Canada, and Europe. Ultra Safe Nuclear is working in collaboration with NASA and the Department of Defense on advanced radioisotope-based power production technology, nuclear thermal propulsion systems and advanced materials using the same foundational inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.
Ultra Safe Nuclear is committed to opening new markets around the world for safe, commercially competitive, clean, and reliable heat and power from nuclear energy. The cornerstone of USNC’s technology is FCM fuel. Based on proven and trusted TRISO fuel particles, FCM enhances safety through proprietary technology to embed TRISO particles in a silicon carbide matrix. Ultra Safe Nuclear is the only privately funded company actively producing TRISO and FCM fuels.
USNC vertical integration captures the entire value chain, from fuel manufacturing to reactor construction and operation, maximizes competitive advantage and reduces risk. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
Contacts
Brian Meeley
b.meeley@usnc.com
703.282.0691
