nuclear-news

Newcleo, Europe’s largest nuclear startup in financial difficulty

The future of Newcleo, Europe’s largest nuclear startup, is uncertain. According to an audit of its accounts seen by the online business daily La Tribune , there is a ”  significant risk  “ to the  group’s ability  to continue operating if it   fails to secure new financing within ”  twelve months  . “

Founded in 2021 by three Italians, the startup is developing a small modular reactor ( SMR ) with lead-cooled fast neutrons. It plans to launch a dedicated Mox fuel plant in Aube in 2030, then install a 30-megawatt demonstrator—the power of a conventional nuclear power plant can reach up to 1,500 megawatts—near Chinon (Indre-et-Loire) in 2031. The young company recorded losses of €103 million in 2024, more than double its losses in 2023 (€45 million).

It spends an average of €13 million per month, mainly to pay its approximately 1,000 European employees, and in April had only €160 million in cash, enough money for a year. It has been trying for several months to secure a new fundraising round, without success so far: private investors are waiting for governments to invest before committing, and France and Italy have still not fulfilled their commitments. In response, Newcleo has already cut 150 jobs in the United Kingdom and plans to reduce its engineering contracts with external service providers.

Reporterre 1st Sept 2025, https://reporterre.net/La-plus-grosse-start-up-europeenne-du-nucleaire-en-difficulte-financiere

September 29, 2025 - Posted by Christina Macpherson | business and costs