Nuclear technology startup newcleo announced that it has raised €75 million (USD$88 million) in a new funding round, with the proceeds aimed at accelerating the development of next-generation small nuclear reactors using recycled nuclear fuel to produce clean energy. The company said it has raised over $124 million in 2025.
Founded in 2021, UK-based newcleo develops advanced small modular reactors, particularly lead-cooled fast reactors, with the goal of reusing existing nuclear waste as fuel to generate clean electricity. According to the company, the combination of lead-cooled fast reactor technology with advanced fuel derived from recycled nuclear waste is designed to support the development of advanced nuclear energy.
The current funding round included participation from new investors Danieli & C, Cementir Holding, Orion Valves, and NextChem, as well as existing investors Kairos, Indaco Ventures, Azimut Investments, the CERN pension fund, and Walter Tosto.
The company said it has entered licensing, siting, R&D, and commercial partnerships in France, Italy, Slovakia, and the United States, reflecting its international commercialization strategy.
newcleo CEO Stefano Buono said:
“Our ability to deliver impactful low-carbon energy solutions for energy-intensive firms is proving an attractive investment rationale for both industrial and financial investors. Our tangible progress in licensing, R&D, vertical integration, and geographic expansion is seen by investors as a key differentiator in the race to deliver clean, safe, and affordable nuclear energy.”
