As the world transitions to greener energy sources to mitigate climate risks, the development of new technologies is crucial. In Europe, several innovative nuclear energy startups are leading the way with cutting-edge approaches to sustainable energy.
Europe’s Top Nuclear Energy Startups in 2024
Thorizon
- Founders: Sander de Groot and Lucas Pool
- Year Founded: 2018
- Location: Amsterdam, Netherlands
Thorizon is developing a reactor that runs on molten salt, promising a safe, smart, and circular energy solution. Their reactor aims to power 250,000 households or provide clean steam to industries. Thorizon has partnered with companies like Orano and CEA and recently received a €10 million grant from the French government.
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Blykalla
- Founders: Janne Wallenius and Peter Szakalos
- Year Founded: 2013
- Location: Sweden
Blykalla focuses on small modular lead-cooled reactors using corrosion-tolerant steel alloys for cost-effective deployment. They aim to license their technology in Sweden and expand globally, targeting Southeast Asia. In April, Blykalla secured a €6.87 million investment led by Norrsken Launcher and Nucleation Capital.
Transmutex
- Founders: Federico Carminati, Jean-Pierre Revol, and Franklin Servan-Schreiber
- Year Founded: 2019
- Location: Switzerland
Transmutex offers lower-cost, safer nuclear energy by combining a particle accelerator with a subcritical fuel assembly. This technology can halt nuclear reactions in milliseconds. In February, Transmutex raised €20.2 million in a Series A2 round from investors like One Ventures and HCVC.
Marvel Fusion
- Founders: Karl Georg Schlesinger and Pasha Shabalin
- Year Founded: 2019
- Location: Germany
Marvel Fusion is working on quantum-enhanced and laser-induced fusion energy. Their technology uses indirect laser fusion to produce energy with less waste than traditional fuels. Marvel Fusion aims to develop a physics facility within five years and a prototype power plant within a decade.
Seaborg Technologies
- Founders: Andreas Viggand, Ask Emil Jensen, and others
- Year Founded: 2014
- Location: Denmark
Seaborg Technologies develops molten salt reactors to provide safe and sustainable nuclear power. Their focus is on controlling material corrosion and extending reactor life. Seaborg aims to curb carbon emissions and end energy poverty.
Copenhagen Atomics
- Founders: Thomas Pedersen, Aslak Stubsgaard, and others
- Year Founded: 2014
- Location: Denmark
Copenhagen Atomics is developing thorium-based molten salt reactors that are safer and more efficient. They produce components like portable molten salt loops and aim to commercialize their reactors by 2030.
Newcleo
- Founder: Stefano Buono
- Year Founded: 2021
- Location: United Kingdom
Newcleo offers reactor design and MOX fuel manufacturing. The company has grown rapidly and submitted a lead-cooled reactor design to the UK government. Newcleo aims to raise €1 billion in equity this year and is Europe’s only nuclear unicorn.
These startups are set to revolutionize the nuclear energy sector with their innovative technologies, driving Europe towards a sustainable energy future.
