Nuclear Energy
Newcleo founder Stefano Buono in Versailles with Musk and Macron
Stefano Buono: «Me, Musk and Macron at Versailles for clean energy.» Paris bets on nuclear energy made in Turin
More than 400 entrepreneurs, including Tesla owner and Turin innovators, attended the Choose France summit. His startup, Newcleo, announces 3 billion investments, supported by the Elysée.
Put French President Emmanuel Macron, the founder of Tesla and SpaceX, Elon Musk, the inventor of fourth-generation nuclear power, Stefano Buono, and 400 other entrepreneurs from all over the world together at breakfast at the Palace of Versailles one morning and at the end of the day; you could find more than 13 billion of investments in new energies in cash.
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“Choose la France”
The good news from the «Choose France» summit organized by the Elysium to attract investors is that three billion of these resources come from technology developed in Turin, in the Newcleo offices, «which are now overflowing, we are more than 130 people», recalls Stefano Buono, who launched the startup of clean reactors in 2021, capable of using waste as fuel.
The less good news, if observed from the Italian perspective, is that the summit wanted by Macron could further postpone the industrial dream of a second gigafactory in our country, given that Paris has fully invested and Musk too would think of France as a destination for a new electric car battery plant.
“We too should take a cue in Italy from the Elysee, which organizes qualified meetings with entrepreneurs from all over the world to promote the country,” says the scientist-entrepreneur Stefano Buono. All politicians with government posts were present. “I met President Macron, had lunch with the foreign minister, and talked with the industry minister"”
The result is that France will support Newcleo's investment plan across the Alps for 3 billion and 500 jobs, "we will soon announce the funding that the Paris government will give" By 2030, the company born in Turin from a CERN patent will be build the first 30MWe reactor and develop a plant to produce innovative nuclear fuels.
nuclear
“France is on the threshold of a nuclear renaissance thanks to the efforts of the French authorities, particularly President Macron”, continues Buono.
The French government has demonstrated a strong commitment to the nuclear industry. France, like all European countries, needs to guarantee access to decarbonised, sustainable, and circular energy". Newcleo is one of the most successful startups born along the banks of the Po and is preparing to become a "unicorn", with a capitalization exceeding one billion.
In the Turin office, a team of over 130 engineers develops the next generation of nuclear reactors, which will all be built abroad since nuclear power is banned in Italy. “But we want to grow the Made in Italy supply chain. The planet needs clean energy to get out of its dependence on oil. These technologies help us do it”, concludes Stefano Buono.
Funding update
Newcleo intends to raise 1 billion euros ($1.1 billion) to develop a fleet of nuclear reactors, The Times has reported.
The company plans to design and build a first-of-its-kind mini lead fast reactor and deploy it in France by 2030.
According to Reuters, last year, Newcleo raised $315.6 million and held discussions with the French nuclear energy company Orano to begin operating in France.
The company did not respond to Reuters’ request for comment.
Earlier this month, Newcleo entered into a cooperation agreement with Italian utility Enel to work on Gen-IV nuclear reactors.
As part of this, Enel has agreed to offer its qualified personnel to support Newcleo’s projects in advanced nuclear technology.
In addition, Enel will have the option to become the first investor in Newcleo’s first nuclear power plant, which it plans to build outside Italy.
The two companies aim to provide ‘safe and stable’ energy sources while significantly reducing radioactive waste.
Newcleo will initially focus on designing and building its lead-fast reactor in France and a 200MWe commercial unit in the UK.
HOw do nuclear reactor work
Nuclear reactors work by using nuclear fission to generate heat. Here's a brief overview of the process:
1. Fission Reaction: Neutrons collide with uranium or plutonium atoms, causing them to split and release energy and more neutrons.
2. Chain Reaction: The released neutrons trigger further fission in nearby atoms, maintaining a continuous reaction.
3. Heat Generation: The energy from fission heats water or another coolant in the reactor core.
4. Steam Production: The heated coolant converts water into steam in a secondary loop.
5. Electricity Generation: The steam drives turbines connected to generators, producing electricity.
6. Cooling: The steam is condensed back into water and returned to the system to be reheated.
Nuclear reactors are designed with multiple safety systems to control the reaction and prevent overheating.
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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