Newcleo, a leader in clean nuclear technology, has raised €135 million in the UK tranche of its Series A funding round, bringing its total funding to €535 million. The round saw participation from Inarcassa (the Italian National Pension and Security Fund for Engineers and Architects), Walter Tosto (Italian nuclear engineering firm), and Ingérop (French nuclear consultancy), alongside family offices and investors from the AI and data center sectors.
In a significant move, Newcleo has relocated its headquarters from London to Paris. The decision aligns with the company’s strategy to strengthen its European presence and tap into new funding opportunities. France offers access to radioactive waste—essential for the company’s lead-cooled Small Modular Reactors (SMRs)—and government support, positioning Newcleo to help meet the EU’s energy transition goals.
Advertisement
Driving the Future of Nuclear Energy
Founded in 2021, the firm focuses on developing Generation IV Advanced Modular Reactors that use liquid lead for cooling and reprocessed nuclear waste for fuel. The startup’s ambitious goals include building a precursor reactor in Italy by 2026, a MOX (Mixed Oxide) manufacturing plant in France by 2030, and a prototype reactor in France by 2031. The company plans to begin commercial reactor deliveries by 2033.
A Growing Global Presence
With over 90 partnerships and more than 850 employees across 19 locations, Newcleo is rapidly scaling its operations in Europe. CEO Stefano Buono emphasized that the relocation is a key milestone in Newcleo’s mission to deliver sustainable nuclear energy and help close the nuclear fuel cycle. The move positions the company to deepen European partnerships and access critical funding resources for future growth.
