Newcleo, founded in 2021, has announced the relocation of its headquarters to Paris. This decision aims to strengthen its European partnerships and access institutional funding to accelerate the development of its modular nuclear reactors. The company specializes in lead-cooled fast neutron reactors (LFR), an innovative technology designed to close the nuclear fuel cycle and reduce waste.
Development objectives
Newcleo plans to build a precursor reactor in Italy by 2026, a MOX (mixed oxide of uranium and plutonium) manufacturing plant in France by 2030, and a 30 MWe LFR prototype reactor in France by 2031. Commercial reactors are expected to be operational starting from 2033, with the first installation in the UK.
Funding
The company has closed the UK phase of its Series A funding round, raising over €535 million in total, including €135 million from the UK. The Series A will be reopened in France to facilitate European investments. Newcleo has more than 700 investors, including Inarcassa, Walter Tosto, Ingérop, family offices, and individual investors active in AI and data centers.
Partnerships
In April 2023, the UK Nuclear Industry Association filed a justification application for Newcleo’s LFR-AS-200 reactor, marking the first application for an advanced nuclear technology in the country. In Slovakia, the company signed an agreement with VUJE to evaluate the deployment of its technology and explore the reuse of spent nuclear fuel.
Expansion
Newcleo currently employs more than 850 people across 19 locations in France, Italy, the UK, Switzerland, and Slovakia. Its projects aim to develop a sustainable nuclear energy source and close the nuclear fuel cycle.
