When a fast neutron collides with a moderator atom, it transfers a portion of its energy to the atom, causing it to recoil. As a result, the neutron loses energy and slows down. The moderator atoms are typically light elements, such as hydrogen, deuterium, beryllium, or carbon, which have a low atomic mass and a high scattering cross-section for neutrons. This means that they are effective at slowing down neutrons without capturing them.
By reducing the energy of the neutrons, the moderator increases the probability of them being absorbed by the fissile material in the reactor core. These fissile materials, such as Uranium-235 (U-235) or Plutonium-239 (Pu-239), undergo fission when they absorb neutrons, releasing more neutrons and generating the chain reaction that sustains the nuclear reactor.
In summary, the primary function of the moderator is to slow down fast neutrons, thereby increasing the likelihood of their interactions with fissile materials, which leads to sustained nuclear fission and heat generation in a nuclear reactor.