Nuclear energy company Newcleo has announced the successful completion of a €135 million funding round, drawing new investors such as Italian pension fund Inarcassa. This latest infusion brings the company’s total capital raised to over €535 million, with more than 700 shareholders, including Exor Seeds, the venture capital arm of the Agnelli family.
Newcleo is pioneering the development of small modular reactors (SMRs), a next-generation nuclear technology designed to use reprocessed nuclear waste as fuel. These reactors are seen as a more sustainable and lower-risk option compared to traditional large-scale nuclear plants. Experts suggest that SMRs could reduce upfront costs and technological risks, potentially accelerating the adoption of nuclear power as a clean energy solution.
The company is also in the process of relocating its headquarters from London to Paris, a strategic move that will provide greater access to European funding opportunities. According to Newcleo’s CEO and chairman, Stefano Buono, the shift positions the company to strengthen its European partnerships and tap into institutional and industrial funding resources more effectively.
“We are now better positioned to deepen our European partnerships and tap into funding resources from institutional and industrial investors," Buono said in a statement.
In addition to the relocation, Newcleo has ambitious plans for France, where it intends to build both a manufacturing plant for reprocessed nuclear waste by 2030 and a prototype reactor by 2031. These projects have already garnered support from the French government, with Bpifrance, the country’s public sector investment bank, providing a €20 million grant last year. The company also plans to reopen its capital raise process in France later this year to attract more European investors.
Newcleo is also making significant investments in Italy, where it plans to spend €133 million between 2025 and 2027. This includes the construction of a €50 million research and development center in Turin, in collaboration with the Italian Institute of Technology. The Italian government is currently drafting new regulations for nuclear power technologies, signaling a potential shift in Italy's stance on nuclear energy, which could open up further opportunities for Newcleo.
Buono has previously stated that Bpifrance may consider making an equity investment in Newcleo as the company aims to secure €1 billion in total funding. These developments mark a pivotal moment for the company as it looks to play a key role in Europe’s clean energy transition.
