Newcleo
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| Type | Private |
|---|---|
| Industry | Nuclear power, nuclear fuel |
| Founded | September 2021 |
| Headquarters | Paris, France |
Key people | Stefano Buono (CEO and chairman), Luciano Cinotti (chief scientific officer), Elisabeth Rizzotti (chief operating officer, managing director Italy) |
Number of employees | ~1,000 |
| Website | www |
newcleo is a European nuclear energy company developing small modular lead-cooled fast reactors using mixed oxide fuel (MOX).[1][2] Headquartered in Paris and founded in 2021, as of May 2026 newcleo has raised over €780 million in capital.[3]
Headed by CEO and chairman Stefano Buono, the company is based in France, with further locations in Italy, UK, Switzerland, Belgium, and Slovakia, employing approximately 1,000 people.[4]
History
[edit] | This section reads like a press release or a news article and may be largely based on routine coverage. (June 2025) |
In September 2021, Stefano Buono, Luciano Cinotti, and Elisabeth Rizzotti founded newcleo. The company acquired Hydromine Nuclear Energy, created in 2013 to design the LFR-AS-200 and LFR-TL-30 reactors,[5] and successfully raised €100 million in capital.[6][7] Six months later, the company entered into a technological partnership with ENEA, an Italian Government research agency, and raised another €300 million.[8][9]
During the Choose France summit in May 2023, the company announced plans for up to €3 billion in investments in France by 2030. The following month, newcleo was awarded funding as part of the France 2030 call for projects. In July, newcleo partnered with Fincantieri and RINA for a feasibility study for naval propulsion.[10][11] In October, the company acquired SRS-Fucina, which specialises in liquid lead systems. Additionally, a cooperation and an investment agreement were established with the Tosto Group.[12] The following month newcleo participated in the World Nuclear Exhibition (WNE) and entered partnerships with Assystem, Ingérop, and Onet.[13] In December, newcleo purchased the Rütschi Group, a nuclear pump manufacturer.[14][15] The company also launched its first experimental facility, known as CAPSULE.
In January 2024, newcleo signed an agreement with MAIRE for hydrogen and chemicals production. The same month, it also secured a contract with Nuclear Transport Solutions (NTS) to support its logistics needs.[16][17] By April, newcleo had submitted its Regulatory Justification in the UK and formed a partnership with CEA, France's Alternative Energies and Atomic Energy Commission. The company also launched its second experimental facility, CORE-1.[17][18][19] In May 2024, it joined the European Industrial Alliance on Small Modular Reactors.[20] In August, newcleo had signed a cooperation agreement with Slovak nuclear company VUJE to advance nuclear technology development.[21] In September 2024, the company entered into an agreement with Saipem to explore offshore applications. newcleo also relocated its holding headquarters from London to Paris.[22][23][24] In October, newcleo's lead-cooled fast reactor (LFR) was selected by the European Industrial Alliance on Small Modular Reactors as one of the projects to receive support.[25] The company also announced more partnerships, on recycled nuclear fuel.[26]
In January 2025, newcleo signed further agreements, with Slovakian nuclear companies JAVYS and VUJE. The first agreement, with JAVYS, outlines a joint venture (51% JAVYS, 49% newcleo) for the construction of up to four LFR-AS-200 reactors at Jaslovské Bohunice V1, as well as the development of a nuclear fuel supply chain. The project aims to integrate spent nuclear fuel recycling, supported by newcleo's planned fuel manufacturing facility in France, to reduce nuclear waste disposal needs. The second agreement, with VUJE, sets a framework for cooperation in developing LFR technology in Slovakia, with VUJE contributing its expertise in construction and commissioning, starting with feasibility studies.[27] In February, newcleo has initiated the land acquisition process for its first LFR-AS-30 reactor in the Chinon Vienne et Loire community of municipalities in France, aiming to build a 30 MWe reactor by 2031.[28]
On 26 May 2026, US-based company Oklo Inc. was selected by the US Department of Energy (DoE) for advanced talks to join the Surplus Plutonium Utilization Program.[29] The program converts designated surplus plutonium material into fuel for advanced reactors, and Oklo paired it with a partnership with newcleo that could bring up to $2 billion in project capital, subject to definitive agreements.[30] Newcleo plans to build a fuel manufacturing facility in the US in partnership with Oklo to supply mixed oxide fuel (MOX) to newcleo's reactors.[3]
On 27 May, newcleo CEO Stefano Buono announced that the company would become publicly listed on the Nasdaq through a business combination agreement with Newhold Investment Corp. III.[31] Newcleo expects to complete construction of a 10 megawatt-thermal non-nuclear prototype reactor in 2026 in Brasimone, Italy. As of May 2026, the company is still working on the basic design of its 200 megawatt-electric commercial LFR-200 reactor, but plans to complete its first deployment in the US in 2032. As of May 2026, Newcleo is working on the detailed design of a MOX fuel fabrication facility, and plans to have a first facility completed in the US or France by 2031, at an estimated capital cost of approximately $2.4 billion. Newcleo plans to act as operator of its reactors for clients with no prior nuclear expertise, and is exploring joint ventures with off-takers such as data center clients.[3]
Technology
[edit]The lead-cooled fast reactors newcleo designs are small modular reactors (SMRs), which proponents hope to have cost and flexibility advantages over large conventional reactors. The coolant is liquid lead, and its reactors are designed to fission heavy elements, allowing them to recycle material that conventional light-water reactors cannot.[3]
Newcleo plans to use mixed oxide fuel (MOX) composed of uranium oxide and plutonium oxide to potentially reduce the need for new uranium mining while also managing long-lasting nuclear waste more effectively.[32][21] The plutonium used to produce MOX fuel is often sourced from reprocessing spent nuclear fuel, though MOX production can also be a way of utilizing surplus weapons-grade plutonium. Newcleo has not made public any plans to conduct its own reprocessing, but plans to reprocess spent fuel from its own MOX-fuelled reactors to create further MOX fuel, in a strategy it calls "multi-recycling."[3]
See also
[edit]References
[edit]- ↑ "newcleo".
- ↑ "Getting new nuclear off the ground". 6 August 2024.
- 1 2 3 4 5 “Newcleo Investor Presentation.” Newcleo, May 2026, https://assets.ctfassets.net/26ep875sz1dl/3CNMaqhNuxJeT8QoxemxkF/633bc5322f1e1bc103b7943c27fb4b87/newcleo_-_NewHold_Investment_Corp_III_BCA_Announcement_Investor_Presentation_-_May_2026.pdf.
- ↑ "Newcleo focuses on Europe with HQ move from UK to France". World Nuclear News.
- ↑ "International Atomic Energy Agency. Advanced Reactor Information System (ARIS)".[dead link]
- ↑ "Nuclear technology company Newcleo acquires Hydromine". 2 September 2021.
- ↑ "newcleo powers up with founding capital round and acquisition of Hydromine Nuclear Energy". Nuclear Power Daily.
- ↑ James, Iolo (20 June 2022). "Newcleo announces successful close of €300 million equity raise". Nuclear Industry Association. Archived from the original on 9 September 2024. Retrieved 7 June 2025.
- ↑ "Newcleo, ENEA to cooperate on advanced reactors". World Nuclear News.
- ↑ Baldoni, Mattia (10 April 2024). "CEA and newcleo to Partner On Generation IV Reactors".
- ↑ "newcleo, Fincantieri and RINA working together on feasibility study for nuclear naval propulsion - RINA.org". www.rina.org.
- ↑ "Newcleo and Tosto Group team up on LFR development". World Nuclear News.
- ↑ "Nuclear firm newcleo teams up with Assystem, Ingerop and Onet Technologies". Reuters. 28 November 2023.
- ↑ "Baker McKenzie advises newcleo in the acquisition of Rütschi | Newsroom". Baker McKenzie.
- ↑ "newcleo aquires [sic] nuclear pump Rütschi Group". 10 August 2023.
- ↑ Butler, Andrew (17 January 2024). "NTS to carry out feasibility studies in several areas of nuclear transport". Nuclear Transport Solutions.
- 1 2 "Justification sought for use of Newcleo reactor in the UK". World Nuclear News.
- ↑ "Newcleo teams up with CEA on reactor development". World Nuclear News.
- ↑ "Newcleo and NAAREA partner to support fast reactor development". 18 January 2024.
- ↑ "Energy: Nuclear, ENEA joins European alliance for small reactors". Media ENEA. 11 July 2024.
- 1 2 "Newcleo expands cooperation with Slovakia". World Nuclear News.
- ↑ Shaw, Alfie (11 September 2024). "Saipem and Newcleo will jointly study offshore applications of nuclear technology".
- ↑ Abirascid, Emil (1 October 2024). "Newcleo, the nuclear scaleup, chooses Europe".
- ↑ "Saipem considers nuclear energy for power offshore". Offshore. 6 September 2024.
- ↑ "European Alliance to support selected SMR projects". 16 October 2024.
- ↑ "Orano launches working groups for advanced reactors". 23 October 2024.
- ↑ "newcleo partners with Slovakian companies on Gen IV reactors - Power Engineering International". Power Engineering International. 17 January 2025.
- ↑ Staff Writer (19 February 2025). "Newcleo initiates land acquisition for SMR demo".
- ↑ Martin, Patrick (26 May 2026). "Nuclear Energy Stock Breaks Out After DoE Nod - Schaeffer's Investment Research". Schaeffers Investment Research. Retrieved 27 May 2026.
- ↑ Duprey, Rich (26 May 2026). "Oklo Moves One Step Closer to Commercialization". 24/7 Wall St. Retrieved 27 May 2026.
- ↑ Buono, Stefano. LinkedIn. 27 May 2026, https://www.linkedin.com/posts/stefanobuono_nuclear-energy-nuclearindustry-activity-7465368374412369920-CUzW?utm_source=share&utm_medium=member_desktop&rcm=ACoAACp5Pa8B0gAMXOJ7HTnm8-IAlyUTol6KIZo.
- ↑ "Lead-cooled Fast Reactors: an opportunity for closing the fuel cycle" (PDF).
