Home / Business and Economy / Newcleo Secures 75M Euros for Nuclear Innovation
Newcleo Secures 75M Euros for Nuclear Innovation
4 Feb
Summary
- Italian startup newcleo raised 75 million euros in new funding.
- The funds will bolster R&D infrastructure in Europe and US expansion.
- Newcleo develops advanced modular reactors using reprocessed nuclear waste.
Italian nuclear technology firm newcleo announced on Wednesday that it has successfully raised 75 million euros in its latest funding round. This investment saw contributions from new backers, including prominent industrial groups Danieli and Cementir Holding.
This recent capital infusion boosts the company's total fundraising over the last 12 months to exceed 105 million euros. Since its inception in 2021, newcleo has amassed a total of 645 million euros in funding.
Founder and CEO Stefano Buono stated that these funds will be instrumental in enhancing their research and development infrastructure across Europe and will accelerate their strategic expansion into the United States. Buono indicated a focus on leveraging U.S. policies designed to support the nuclear energy sector.
Newcleo specializes in the development of advanced modular reactors that utilize reprocessed nuclear waste as fuel. This innovative approach is engineered to lower operational costs and mitigate the inherent risks associated with managing atomic waste.
