New Cleo, startup specialized in clean nuclear power and led by Stefano Buono, has 135 million funding round closed of euros. This round is part of a ambitious plan of capital increase from 1 billion euro launched last year, which could lead the company to become the first Italian unicorn in the energy sector. Founded in 2021, the startup has a total of 535 million euros raised, a sign of a growing interest in sustainable energy technologies.
Newcleo also announced the moving its headquarters from London to Paris, thus consolidating its position as a European Union company.
Clean Nuclear, a Diverse Investor Portfolio
The latest round of funding saw the participation of a diverse investor baseAmong the main members we find Cash in, the pension fund for engineers and architects, together with Walter Tosto, an Italian nuclear engineering company and Ingerop, a French engineering and consulting company in the nuclear sector. In addition to these, the startup has attracted the attention of family offices and individual investors active in the artificial intelligence and data center sector, bringing the total number of members over 700, with 90% of the capital still in Italian hands.
Clean nuclear, who is the shareholder?
Newcleo’s capital includes institutional investors prominent as Exor Seeds, the holding company of the Agnelli-Elkann family, Azimuth Group, Ersel e Banca Patrimoni Sella & CAmong the venture capital funds, the following stand out: Kairos with the Venture Esg One vehicle, the Progress Tech Transfer Fund e Indigo Venture I. In addition, Newcleo has attracted investments from STAR Ventures, an Israeli fund with 1 billion dollars under management, and other entities such as Smart Capital SpA. and Lift.
Clean Nuclear, Who Are the Individual Members?
THEList of individual members of Newcleo is equally nourished. It includes prominent figures such as the family Bad stocking, Paul Merloni of Ariston, Ian Lundin (president of Lundin Petroleum), e Claudius Costamagna, former Goldman Sachs banker. Other notable names include Manfred Lefebvre, former owner of Silversea Cruises, and Phillip Sarrasin, former partner of the private bank Lombard Odier.
Newcleo: Strategic Partnerships in the Nuclear Sector
Newcleo already has theestablished over 90 collaborations in the nuclear sector, with prestigious partners such as Fincantieri and Rina for naval propulsion, and Maire Tecnimont for green chemistry and hydrogen. Furthermore, starting from September 2024, the startup will start collaborating with Saipem to develop innovative solutions for the offshore application of its nuclear technologies. A collaboration that aims to decarbonize the energy sector and produce electricity on floating nuclear units.
Sustainable Investments in Italy
Newcleo does not stop here and has already outlined a 133 million euro investment plan in Italy between 2025 and 2027. This is in addition to the 90 million already invested from 2021 to date. A key element of the plan is the construction of a research and development center on materials in Turin, in collaboration with the Italian Institute of Technology, with an investment of 50 million euros. These initiatives not only strengthen the startup’s presence in Italy, but also underline its commitment to the development of advanced nuclear technologies.
What does Newcleo do?
Newcleo is an innovative startup that develops advanced nuclear reactors, designed to use sustainable fuels. Their technology is based on the mixed oxide fuel mixture (MOX), composed of depleted uranium and plutonium derived from waste from other plants. This approach allows waste to be “burned” instead of produced, thus reducing the need for new uranium mining and generating a significantly smaller volume of radioactive waste, with an active life of only 250 years, compared to 250.000 years for traditional waste.
The Newcleo system, called “Small Modular Lead-cooled Fast Reactor” (SM-LFR), uses lead for cooling instead of water, ensuring greater safety and preventing accidents like those that occurred in the past.
Currently, Newcleo aims to apply this technology to provide zero-emission electricity and heat to offshore oil and gas installations, improving the sustainability performance of these operations. In the future, the startup plans to expand the use of its floating nuclear units by connecting them to the onshore power grid.
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Publish date : 2024-09-30 05:22:00
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