Newcleo signs MOU with Nuclear AMRC
The Memorandum of Understanding (MoU) between NewCleo and the Nuclear AMRC, a part of the UK's High-Value Manufacturing Catapult, establishes a comprehensive partnership to explore various technical and business operations.
These operations encompass a wide range of activities, including supply chain readiness assessments, investigations into potential supply chain partners, identification of entities for potential acquisition, modularization studies, manufacturability and fabrication assessments, material and metallurgy studies, and any other future areas of interest agreed upon by both parties.
NewCleo, represented by its Chairman and CEO Stefano Buono, views this partnership as an opportunity to collaborate with the Nuclear AMRC in driving innovation within the nuclear industry. They intend to participate in activities that align with their ambitious plan to market. This collaboration is expected to support the development of NewCleo's end-to-end industrialization strategy and enhance its business activities in the UK. The ultimate goal is establishing a new competitive industrial standard in nuclear energy and providing safe solutions to energy and environmental challenges.
Andrew Storer, CEO of the Nuclear AMRC, expresses enthusiasm for working with NewCleo to bring their advanced modular reactor to market. He recognizes the pivotal role that advanced reactors like NewCleo play in decarbonizing electricity generation and energy-intensive industrial processes. Additionally, he highlights the significant opportunities that the development of such reactors in the UK can offer to nuclear-ready manufacturers. The Nuclear AMRC's manufacturing innovation and supply chain development expertise is expected to support NewCleo in achieving its goals in the UK and globally.
NewCleo's delivery roadmap begins with designing and constructing a unique 30 MWe Lead Fast Reactor (LFR) to be deployed in France by 2030. They plan to introduce a 200 MWe commercial unit in the UK two years later. Concurrently, NewCleo will directly invest in a mixed uranium/plutonium oxide (MOX) plant to fuel its reactors, with a feasibility study for this project contracted to France's Orano in June 2022.
For more coverage about Newcleo, subscribe to our club letter
NewCleo has been actively forming partnerships to advance the industrialization of its reactors. Their cooperation and investment agreement with the Tosto Group focuses on various activities to study and enhance manufacturing, fabrication, and installation processes throughout the reactor lifecycle. This collaboration will leverage the partners' expertise in developing the LFR-AS designs.
Furthermore, NewCleo has expanded its capabilities by acquiring SRS Servizi Ricerche e Sviluppo Srl and Fucina Italia Srl, collectively known as the SRS-Fucina Group. Both companies, based in Italy, specialize in designing and building nuclear systems utilizing liquid lead technology.
In March of this year, NewCleo signed an agreement with Italian utility Enel to cooperate on power plant projects, including taking a stake in the first plant. Enel will collaborate with NewCleo on projects related to its LFR technology, offering specialized expertise by sharing qualified personnel. In return, NewCleo has committed to securing an option for Enel as the first investor in its initial power plant.
What is IPO CLUB
We are a club of Investors with a barbell strategy: very early and late-stage investments. We leverage our experience to select investments in the world’s most promising companies.
Disclaimer
Private companies carry inherent risks and may not be suitable for all investors. The information provided in this article is for informational purposes only and should not be construed as investment advice. Always conduct thorough research and seek professional financial guidance before making investment decisions.
