Nuclear energy company Newcleo announced on Monday (30 September) that it has secured €135m ($149.37) in new investments, bringing the company’s total investment to more than €535m.
The new investment, some of which came from Italian pension fund Inarcassa, has taken Newcleo’s total shareholders to more than 700.
Ahead of its headquarter relocation to Paris, Newcleo plans to further increase the number of European investors in its growing list of shareholders. The company expects to reopen its capital raise process in France later this year.
Newcleo is already in the process of constructing a manufacturing plant for reprocessed nuclear waste as well as a prototype reactor in France. The projects are expected to be completed by 2030 and 2031, respectively.
The company develops small modular reactors (SMRs) that are powered by reprocessed nuclear waste. According to nuclear experts, cited by Reuters, SMRs can reduce the initial investment required to build nuclear power plants, mitigating the financial risks of nuclear projects.
Stefano Buono, CEO and chairman of Newcleo, said in the statement: “This move [from London to Paris] aligns with our commitment to making a global impact by closing the nuclear fuel cycle and providing a clean, safe and reliable energy source."
Buono explained that the location shift will make it easier for the company to begin new projects and secure funding opportunities from institutional and industrial investors across Europe.
Between 2025 and 2027, Newcleo also plans to invest €135m in Italy, where it is currently constructing a €50m materials research and development centre in a partnership with the Italian Institute of Technology.
Last month, the company began discussing the potential of creating a new company focused on the development of small nuclear reactors in Italy alongside Ansaldo Nucleare and Enel.
Newcleo intends to expand its nuclear developments that are already operational across 19 locations across Europe including France, Italy, the UK, Switzerland and Slovakia, catering for three manufacturing facilities and 850 employees.
