Newcleo

newcleo is a nuclear energy company founded in September 2021. It focuses on designing, building, and operating Generation IV Small Modular Lead-cooled Fast Reactors (SMRs) using MOX fuel nuclear energy.^[1][2]

newcleo's MOX fuel is made from depleted uranium, a byproduct of the enrichment process, and plutonium recovered from the reprocessing of spent nuclear fuel. This process can help reduce the demand for new uranium mining while contributing to a more effective management of long-lasting nuclear waste.^[3][4]

The project is grounded in decades of international research dedicated to improving nuclear energy technology and aims to address critical issues in the nuclear industry, such as waste management, safety, and cost efficiency.^[5][6] As of the end of 2024, newcleo has raised over €537 million in capital.^[7]

Headed by CEO and chairman Stefano Buono, the company is based in France, with further locations in the UK, Italy, Switzerland, Belgium, and Slovakia, employing approximately 1,000 people.^[8]

newcleo research began with work at CERN in 1993 when Carlo Rubbia introduced the concept of the Accelerator Driven System (ADS), calling it the "Energy Amplifier".^[9] Further research on the concept was conducted over the next few years.^{[10][11][12][13]}

The Lead-cooled fast reactor (LFR)^[14] was identified as one of six key technologies to be developed by the Generation IV International Forum in 2000. In 2002, the CIRCE large-scale liquid lead test facility was created at the ENEA-Brasimone Centre^[15] in Italy, becoming a crucial R&D infrastructure for the development of LFR systems.^[16]

In September 2021, Stefano Buono, Luciano Cinotti, and Elisabeth Rizzotti founded newcleo. The company acquired Hydromine Nuclear Energy, created in 2013 to design the LFR-AS-200 and LFR-TL-30 reactors,^[17] and successfully raised €100 million in capital.^[18][19]

In March 2022, newcleo raised €300 million. Around the same time, the company entered into a technological partnership with ENEA, an Italian Government research agency.^[20][21]

During the Choose France summit in May 2023, the company disclosed plans for up to €3 billion in investments in France by 2030, including industrial projects, R&D initiatives, and engineering developments. The following month, newcleo was awarded funding as part of the France 2030 call for projects, an initiative designed to support innovative technologies in France. By July 2023, newcleo partnered with Fincantieri and RINA for a feasibility study focusing on the application of newcleo's reactors for naval propulsion.^[22][23]

In October 2023, the company acquired SRS-Fucina, which specialises in liquid lead systems. Additionally, a cooperation and an investment agreement were established with the Tosto Group.^[24] The following month saw newcleo's participation in the World Nuclear Exhibition (WNE) and secured partnerships with Assystem, Ingérop, and Onet.^[25]

In December 2023 newcleo purchased the Rütschi Group, a leader in nuclear pump manufacturing.^[26][27] The company also launched its first experimental facility, known as CAPSULE. In January 2024, newcleo signed an agreement with MAIRE for hydrogen and chemicals production. The same month, it also secured a contract with Nuclear Transport Solutions (NTS) to support its logistics needs.^[28][29]

By April 2024, newcleo had submitted its Regulatory Justification in the UK and formed a partnership with CEA, France's Alternative Energies and Atomic Energy Commission. The company also launched its second experimental facility, CORE-1.^[29][30][31]

In May 2024, it joined the European Industrial Alliance on Small Modular Reactors (SMRs), aligning itself with other leading organisations in the development of this next-generation nuclear technology. Two months later, in July 2024, newcleo successfully completed the preparatory stage of the licensing process set by the French nuclear safety authorities, ASN and IRSN.^[32][33]

In August, newcleo had signed a cooperation agreement with Slovak nuclear company VUJE to advance nuclear technology development.^[4] In September 2024, the company entered into an agreement with Saipem to explore offshore applications of its technology. newcleo also relocated its holding headquarters from London to Paris.^[34][7][35] Additionally, the company strengthened its partnership with the FALCON consortium, led by Ansaldo Nucleare and SCK-CEN (the Belgian Nuclear Research Centre), with the goal of accelerating the industrialisation of Lead-cooled Fast Reactor (LFR) technology.^[36]

In October 2024, newcleo's Lead-cooled Fast Reactor (LFR) was selected by the European Industrial Alliance on Small Modular Reactors as one of the projects to receive support. As part of this, newcleo formed a Project-Based Working Group, collaborating with the Alliance's Technical Working Groups on Skills, Fuel, R&D, Supply Chain, and Financing.^[37] The company also joined forces with Orano, HEXANA, and Otrera to further develop Advanced Modular Reactors utilising recycled nuclear fuel.^[38]

In November 2024, newcleo showcased its reactor safety options to ASN and IRSN and submitted a Generic Design Assessment (GDA) application for its 200MWe LFR technology in the UK^[39][40]

On December 16, 2024, newcleo submitted its French MOX Safety Option File (DOS) to the Nuclear Safety Authority (ASN) for its fuel assembly testing facility, initiating a new regulatory phase in which key safety options are assessed. This milestone plays an important role in advancing the application for the authorisation process to establish a Basic Nuclear Installation (INB).^[41]

newcleo has focused on the design of Generation IV Advanced Modular Reactors (AMRs) cooled by liquid lead and a fuel production facility of MOX for its fast reactors. By combining existing technologies with a multi-recycling approach, the company aims to close the nuclear fuel cycle while generating low-carbon energy. newcleo supports both internal projects and the broader development of SMR supply chains across Europe and beyond.^[2]

The company builds on decades of international research focused on advancing nuclear energy technology, with the objective of addressing key challenges faced by the industry. These include the long-term management of nuclear waste through advanced fuel recycling, enhancing safety standards, and improving cost efficiency by optimising reactor performance and fuel usage. The project seeks to contribute to the development of more sustainable and scalable nuclear energy solutions.^[5][6]

In January 2025, newcleo has signed two framework agreements with Slovakian nuclear companies JAVYS and VUJE, aiming to advance the use of spent nuclear fuel and the development of Lead-Cooled Fast Reactor (LFR) technology. The first agreement, with JAVYS, outlines plans to establish the Centre for Development of Spent Nuclear Fuel Utilisation (CVP), with a joint venture (51% JAVYS, 49% newcleo) focusing on the construction of an Advanced Modular Reactor (AMR)-based nuclear power plant with up to four LFR-AS-200 reactors at Jaslovské Bohunice V1, as well as the development of a nuclear fuel supply chain. The project aims to integrate spent nuclear fuel recycling, supported by newcleo's planned fuel manufacturing facility in France, to reduce nuclear waste disposal needs. The second agreement, with VUJE, sets a framework for technical and commercial cooperation in developing LFR technology in Slovakia, with VUJE contributing its expertise in nuclear power plant construction and commissioning, starting with feasibility studies.^[42]

In February 2025, newcleo has initiated the land acquisition process for its first LFR-AS-30 reactor in the Chinon Vienne et Loire community of municipalities in France, aiming to build a GEN-IV 30 MWe nuclear reactor by 2031. The project is intended as an industrial demonstrator to showcase newcleo's technology and support the development of the nuclear sector in France. Discussions with local authorities and stakeholders are underway, following the standard approval process for large-scale projects in France. The initiative will be subject to preliminary studies and regulatory procedures, including a review by the National Commission for Public Debate (CNDP). In December 2024, newcleo had already submitted its French MOX Safety Option File (DOS) to the Nuclear Safety Authority (ASN) for its fuel assembly testing facility and advanced regulatory work on safety options for the LFR-AS-30 reactor.^[43]

The reactors newcleo designs are small modular reactors (SMRs), which proponents hope to have cost and flexibility advantages over large conventional reactors.

newcleo plans to use mixed oxide fuel (MOX) to potentially reduce the need for new uranium mining while also managing long-lasting nuclear waste more effectively.^[3][4] The strategy involves reprocessing spent nuclear fuel multiple times.^[44]

newcleo is developing a fully-integrated fuel strategy to support its Lead-Cooled Fast SMRs, focusing on the production of its own MOX fuel. By repurposing depleted uranium and plutonium recovered from spent nuclear fuel, the company reduces the accumulation of nuclear waste and reduces the need for fresh uranium extraction, contributing to a more circular use of nuclear resources.^[45]

On December 16, 2024, newcleo submitted its French MOX Safety Option File (DOS) to the Nuclear Safety Authority (ASN) for its fuel assembly testing facility, initiating a new regulatory phase in which key safety options are assessed. This milestone plays an important role in advancing the application for the authorisation process to establish a Basic Nuclear Installation (INB).^[41]

Focused on the design, construction, and operation of Generation IV Small Modular Lead-Cooled Fast Reactors (SM-LFRs) powered by MOX fuel, newcleo aims to generate nuclear energy that is safe, clean, cost-effective, and sustainable over the long term. This approach is intended to contribute to energy solutions that minimise environmental impact while addressing the increasing global demand for reliable and affordable energy.^[46]

In line with its operational goals, newcleo has developed a comprehensive environmental, social, and governance (ESG) strategy, which is built around four key pillars: people, planet, prosperity, and principles of governance. Each of these areas reflects the company's commitment to assessing and improving its impact on both the environment and the communities it serves.^[47][48] As a signatory of the UN 24/7 Carbon-Free Energy Compact, newcleo aims to support the transition to carbon-neutral energy sources.^[49]

With oversight from its ESG committee, newcleo reports on its progress in these areas, ensuring a consistent approach to improving its social and environmental performance. Additionally, the company prioritises diversity and skill development within its workforce, acknowledging the role of these factors in supporting long-term organisational growth. newcleo's ESG strategy is integrated with its business objectives, incorporating sustainability into its operations and decision-making processes, and contributing to global efforts to reduce carbon emissions and support sustainable development.^[50]

• Nuclear power
• Nuclear reactor
• Nuclear physics
• Nuclear engineering

• Official website