The firm offers access to Canada's nuclear ecosystem as Türkiye builds out its small modular reactor ambitions
Portland Holdings Investco Limited has signed a memorandum of understanding with Turkish nuclear-technology firm Nuclean to cooperate on the development of Türkiye's nuclear-energy sector, extending the Canadian investment group's nuclear strategy into another international market.
The two companies signed the agreement at the Nuclear Power Plants and Energy Summit in Istanbul, according to a joint statement, with the Nuclear Industry Association of Türkiye backing the deal as a supporting institution.
Under the memorandum, the partners plan to explore cooperation across four areas: human-capital development and training, technology engagement, industrial participation and supply-chain development, and dialogue on potential investment and financing opportunities.
The document sets a framework for cooperation rather than any binding commitment.
Any resulting transaction, investment or project would depend on separate written agreements and on internal, regulatory and other approvals, the parties said.
Nuclean describes itself as a technology-neutral platform that brings together technology providers, the industrial supply chain, investors, off-takers and engineering participants working on small modular reactors (SMRs) and advanced nuclear projects in Türkiye.
Portland Holdings, the Canadian private investment and business group founded by Michael Lee-Chin, said it would provide access to Canada's nuclear ecosystem, including national laboratories, utilities, universities, engineering firms and other participants across the value chain.
"Türkiye has made clear that nuclear energy will be a fundamental part of its long-term energy-security and industrial strategy," said Michael Lee-Chin, founder and chairman of the Portland Holdings group of companies.
He added that the cooperation could connect the country's nuclear sector with training pathways, global relationships and emerging nuclear technologies.
According to the statement, Alikaan Çiftçi, president of the Nuclear Industry Association of Türkiye, said the two companies would combine capabilities in human capital, technology access, industrial participation and capital formation, with his association providing sector-level support.
Koray Tuncer, a Nuclean board member, said the partners would work to turn those capabilities into practical cooperation on SMR and advanced nuclear projects in the country.
The agreement adds to a nuclear strategy Portland has built over several years.
Its founder has tied nuclear power to a long-term shift away from fossil fuels, and Portland Investment Counsel runs the Portland Replacement of Fossil Fuels Alternative Fund, which invests across the nuclear value chain.
In a 2022 report by Wealth Professional, the group signed a cooperation agreement with Canadian Nuclear Laboratories, and the following year it signed another with Dubai-based MBM Holding.
Portland has since deepened the strategy on two fronts.
Lee-Chin framed nuclear as the core of a future energy mix in 2024, setting the fund to target uranium production, small modular reactors and downstream uses such as hydrogen.
And in May 2026, as Wealth Professional reported, the firm's chief nuclear officer, Christopher Deir, and its chief investment officer, Dragos Berbecel, pointed to Canadian government funding for projects including Bruce Power and the Darlington small modular reactor as evidence the sector was moving from promise to build-out.
The parties said they would advance any specific opportunities through further dialogue and separate agreements as they arise.
