Backers have invested $1.6 billion in nuclear energy startups over the last five years. Peter Diamandis reviews the most promising companies and the potential of the nuclear energy industry to fight climate change.

All condensers have been installed at Emirates Nuclear Energy's Barakah Unit 4 in the United Arab Emirates. The reactor is 38% complete following the installation of the final condenser, which was manufactured in South Korea.

Japan and the United Arab Emirates have forged a nuclear cooperation and technology transfer agreement, said a Japanese foreign ministry spokesman. South Korean firms are building a nuclear plant in the UAE, but the country could pursue more reactors as part of its efforts to meet rising power demand.

South Korea is seeking to secure more nuclear cooperation agreements in the United Arab Emirates and elsewhere the Middle East. Korea Electric Power in 2009 won the contract to construct four reactors in Barakah in the UAE. "There is a huge potential for cooperation in the nuclear area between Korea and the Middle East region," said Sang Hyun Lee, director general for policy planning at South Korea's Ministry of Foreign Affairs and Trade.

United Arab Emirates and South Korea signed a nuclear trade agreement on Monday, allowing Korean firms to compete with U.S. and French companies for nuclear-energy contracts. The UAE plans to build several reactors.