3 years ago

Newcleo Raises $315.9 Million to Develop Lead-Cooled Fast Reactor Technology

  • Newcleo, a UK-based nuclear energy startup, has secured $315.9 million in equity funding to accelerate the development of its lead-cooled fast reactor technology

  • The funding will be used for prototype build-out, research, manufacturing plant setup, and site identification and acquisition in France and the UK

  • Newcleo aims to cut the development and production costs of nuclear power and expand its role in the transition away from fossil fuels

  • The company plans to produce fuel from processed nuclear waste and has a development program planned to be executed rapidly over the next 5 to 7 years.

      • ProblemEnergy

      "Traditional nuclear power plants are expensive to build and maintain, and safety concerns make them unpopular. They also rely on mined uranium, which is a finite resource."

      Solution

      "Newcleo is developing smaller, lead-cooled nuclear reactors that operate at atmospheric pressure, making them safer and more affordable. Their reactors can also run on nuclear waste, reducing the need for mined uranium."

      Covered on