Advanced nuclear technology startup newcleo has raised €75 million (approximately $88 million) in a new funding round, as the company accelerates development of small nuclear reactors designed to generate clean electricity using recycled nuclear waste. The company said the latest raise brings its total capital secured in 2025 to more than $124 million, underscoring growing investor interest in alternative nuclear technologies.

Recycling Nuclear Waste Into Clean Power

Founded in 2021 and headquartered in the United Kingdom, newcleo focuses on developing lead-cooled fast reactors, a class of advanced small modular reactors engineered to reuse existing nuclear waste as fuel. By combining fast reactor technology with advanced fuel derived from recycled spent nuclear material, the company aims to address two long-standing challenges simultaneously: low-carbon power generation and long-term nuclear waste management.

According to newcleo, this approach is intended to support the next phase of nuclear energy development by improving fuel efficiency while reducing reliance on freshly mined uranium.

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Strategic Industrial and Financial Backing

The latest funding round attracted a mix of industrial and financial investors. New participants included Danieli & C, Cementir Holding, Orion Valves, and NextChem, while existing backers such as Kairos, Indaco Ventures, Azimut Investments, the CERN pension fund, and Walter Tosto also took part. The diversity of the investor base reflects newcleo’s positioning at the intersection of industrial decarbonization, advanced manufacturing, and clean energy infrastructure.

International Commercialization and Regulatory Progress

newcleo said it is advancing licensing, siting, research and development, and commercial partnerships across multiple markets, including France, Italy, Slovakia, and the United States. These initiatives form part of the company’s broader strategy to commercialize its reactor technology internationally and align development timelines with regulatory frameworks in key nuclear markets.

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Positioning Nuclear for Energy-Intensive Industries

Chief Executive Officer Stefano Buono said investor interest is being driven by the company’s progress across licensing, R&D, vertical integration, and geographic expansion. He added that newcleo’s technology is increasingly seen as a viable low-carbon energy option for energy-intensive industries seeking reliable power sources alongside emissions reduction.

As governments and industrial players reassess nuclear energy’s role in long-term decarbonization, newcleo’s focus on waste-based fuel and advanced reactor design highlights a growing shift toward technologies that combine energy security, circular resource use, and climate goals.

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