France invests in Newcleo
Newcleo founder Stefano Buono in Versailles, France
France Unlocks €100 Million for Nuclear Sector, Italian-British Newcleo Among Funded Companies.
France has announced €100 million in funding to support the nuclear industry. Italian-British startup Newcleo, led by CEO Stefano Buono, is among the beneficiaries. As reported by Le Figaro, Newcleo is expected to receive €15 million.
Newcleo, having recently completed a double acquisition (Srs and Fucina) in Italy, is among the companies backed by the French government's financial plan, which is intended to advance the nuclear sector in the country, both infrastructure and personnel-wise.
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The Funding Goal
Newcleo's relationship with France is robust, as evidenced by the company's recent announcement of an ambitious €3 billion investment plan to be implemented in the country over the coming years. The grant won by Newcleo is designed to support the development of innovative small nuclear reactor projects. It is financed by the France 2030 investment plan launched by the Emmanuel Macron government, which includes, among other things, €1 billion in investments for the nuclear industry.
Specifically, the selected project is a 30 MWe lead-cooled demonstration and irradiation reactor that will produce energy from waste generated by traditional nuclear power plants using mixed oxide (Mox) fuel.
FUND ALLOCATION
As explained by Reuters, detailed aspects of the plan allocate €42 million towards the creation of training programs, a priority for Macron in his broader project of re-nationalizing Edf, the group managing French reactors. More than €25 million will also be granted to three innovative projects by startups. In addition to Newcleo, attention has been given to French startup Naarea, which is expected to receive €10 million, and Nuward, a company controlled by Edf.
Investor's note: The French government's backing of Newcleo reinforces the company's commitment to advancing the nuclear sector and creating a cleaner, more efficient energy future. Its ambitious €3 billion investment plan reflects the industry's potential growth and the company's position within it. However, investors should consider nuclear power's high capital costs and regulatory complexities.
Newcleo
Newcleo, founded in 2021, is an innovative clean energy company that develops advanced nuclear technologies. Based in London, it aims to create safer, more efficient reactors that minimize waste and enhance sustainability. Newcleo is committed to addressing global energy challenges through cutting-edge research and development in nuclear science.
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