NewCleo

This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.

 

Founded in 2021, it is based in London, UK, and employs around 230 people. It’s a leader in the industry sector of nuclear energy.

What is NewCleo?

Newcleo is a nuclear energy innovation company founded in 2021, based in London, England. It specializes in designing, building, and operating advanced modular reactors (AMRs) that use liquid lead as a coolant. Newcleo's mission is to generate safe, clean, and economically viable energy by addressing the nuclear industry's challenges related to waste, safety, and cost.

What does NewCleo?

Newcleo specializes in designing, building, and operating advanced modular reactors (AMRs) cooled by liquid lead, promoting safer, more efficient nuclear energy.

Key Areas of Focus

Lead-Cooled Fast Reactors (LFRs)

• Uses liquid lead coolant to safely achieve high-temperature operations.

• Eliminates coolant boiling risks, significantly improving reactor safety and efficiency.

MOX Fuel Manufacturing

• Produces Mixed Oxide (MOX) fuel by reprocessing spent nuclear fuel.

• Closes the nuclear fuel cycle, reducing nuclear waste and enhancing sustainability.

Nuclear Waste Management

• Innovative reuse of spent nuclear fuel reduces waste significantly compared to conventional reactors.

• Provides cleaner, more efficient nuclear energy solutions.

International Collaborations

• Partnerships with European organizations, including France’s CEA and Slovakian firms JAVYS and VUJE.

• Focused on global deployment and technological advancement of reactor solutions.

Energy Production and Sustainability

• Committed to providing safe, stable, and sustainable nuclear energy.

• Supports global carbon-reduction goals and enhanced energy security through advanced reactor technology and fuel recycling.

What is the NewCleo opportunity?

Reactor technology: LFR

• Considered the most advanced and mature fast reactor technology

  by GIF (Gen-IV International Forum)

• Design built on a small modular reactor (SMR) concept.

Fuel: MOX 1

• Newcleo reactors are fueled by MOX, which is obtained from the

• Waste of the current nuclear waste-to-energy solution industry, creating an innovative nuclear

The solution that Newcleo is working on appears to be:

• Safe: Patented lead-cooled technology benefits from a natural radiation shield and passive safety features

• Carbon-free: zero-carbon baseload dispatchable generation to balance growing renewable intermittency

• Circular: A unique newcleo solution for waste-as-a-fuel, eliminating the need for further uranium mining and enrichment and significantly reducing long-lived waste.
  Affordable: The design benefits from modularity, portability (dispatchable), and standardization.

NewCleo Industry Sectors

Nuclear Energy

• Designs and operates Generation IV lead-cooled fast reactors (LFRs) using reprocessed nuclear waste.

• Promotes a sustainable, closed nuclear fuel cycle to reduce environmental impact.

Energy Production and Distribution

• Provides efficient, low-carbon electricity generation.

• Offers a cleaner alternative to fossil fuels, supporting decarbonization efforts.

Waste Management

• Implements nuclear waste recycling technologies, significantly minimizing the need for long-term waste storage.

• Reduces environmental footprint through advanced fuel reuse strategies.

Advanced Manufacturing and Engineering

• Collaborates with partners such as Saipem and NextChem for reactor design and modular construction.

• Enhances capabilities in advanced nuclear technology manufacturing.

International Collaboration and Development

• Establishes strategic partnerships in Europe and the MENA region, including entities like ENEC.

• Aims to globally deploy innovative nuclear technologies and advance sustainable energy solutions.

NewCleo Business Development

Strategic Partnerships

• ENEC Partnership: Collaborating with Emirates Nuclear Energy Company (ENEC) to deploy Lead-Cooled Fast Reactor (LFR) technology in Europe and the MENA region.

• European Expansion: Partnering with entities such as JAVYS and VUJE in Slovakia to develop advanced reactors utilizing spent nuclear fuel, enhancing waste management and sustainable energy production.

Technology Development

• Lead-Cooled Fast Reactors (LFRs): Specializing in advanced reactors cooled by liquid lead, ensuring greater safety and efficiency than conventional reactors.

• MOX Fuel Manufacturing: Investing in Mixed Oxide (MOX) fuel production from recycled nuclear waste to promote sustainability and waste reduction.

Market Expansion

• European and MENA Regions: Actively expanding presence through strategic partnerships and targeted deployments to meet regional demand for sustainable nuclear solutions.

• UK Deployment: Plans to launch its first commercial-scale reactor in the UK by 2033, targeting further expansion to achieve significant energy production (up to 4 GW capacity).

Funding and Growth Initiatives

• Government Support: Benefitting from France’s France 2030 initiative, supporting advanced reactor technologies.

• Private Investment: Leveraging private funding, with over €1 billion raised, to accelerate technological development and commercial deployment.

NewCleo’s Growth

Sustainable Energy Production

• Provides low-carbon, secure energy solutions aligned with global sustainability goals through advanced nuclear reactor technology.

Nuclear Waste Management

• Utilizes reprocessed nuclear waste as fuel, effectively addressing nuclear waste disposal challenges and reducing reliance on long-term storage solutions.

Strategic Partnerships

• Forms partnerships (e.g., with ENEC) to deploy advanced nuclear technologies, accelerating market entry and operational growth across Europe and the MENA region.

Market Expansion

• Capitalizes on growing demand for sustainable energy, particularly in Europe and the MENA region, through strategic collaborations and targeted market expansions.

Innovation Leadership

• Positioned as a technology leader in nuclear innovation through the development of advanced Lead-cooled Fast Reactors (LFRs) and modular designs.

Investment and Funding

• Secured substantial funding exceeding €535 million, enabling accelerated development, commercial-scale deployment, and strategic growth initiatives.

NewCleo Target Markets

Industrial Sector

• Offers localized, clean energy solutions for industries with high energy demands, such as data centers and manufacturing plants.

Remote Communities

• Provides sustainable and reliable power through advanced modular reactors suitable for isolated or remote regions lacking grid access.

Data Centers and AI Applications

• Supplies tech companies requiring significant clean power for energy-intensive operations, including data centers and artificial intelligence infrastructure.

Government and Utility Sectors

• Targets governments and utility providers seeking scalable, low-carbon energy solutions, supporting energy security and sustainability goals.

Large-scale Energy Production

• Deploys scalable reactors designed for utility-scale energy generation, addressing increasing global demand for sustainable power.

NewCleo Intellectual Property

Patents

• Core Technologies: International patents cover Generation IV Small Modular Reactor designs, including:

  • Lead-cooled Fast Reactor (LFR) technology

  • Pump and heat exchanger assemblies

  • Self-supporting reactor cores

  • Control and shutdown rod systems

  • Unique, amphora-shaped inner reactor vessels

• Continuous filings demonstrate commitment to ongoing innovation and IP protection.

Trade Secrets

• Actively protects proprietary processes and information unsuitable for patenting to maintain competitive advantage.

• Collaborations (e.g., with Blykalla) include agreements safeguarding background IP and sensitive information.

Trademarks

• Protects brand identity, name, and logo to maintain market positioning and brand recognition.

Newcleo strategically uses patents to secure core reactor technologies while employing trade secrets and trademarks to reinforce its competitive position.

NewCleo’s Competition

NuScale Power

• Technology: Scalable Small Modular Reactors (SMRs)

• Advantage: Strong government backing; advanced stage of commercial deployment.

Rolls-Royce SMR

• Technology: Compact pressurized water reactors

• Advantage: UK government support; first operational reactor targeted for mid-2030s.

Westinghouse Electric Company

• Technology: SMRs and Lead-cooled Fast Reactors (LFRs)

• Advantage: Selected for further UK government-supported SMR development.

GE-Hitachi Nuclear Energy

• Technology: BWRX-300 SMR

• Advantage: Cost-effective design focused on efficiency; strong global brand.

Holtec Britain Limited

• Technology: Modular reactor designs

• Advantage: Emphasis on safety, efficiency, and competitive costs.

Enel-Ansaldo-Leonardo Partnership

• Technology: SMRs

• Advantage: Combined expertise from major European industrial and energy players.

Competitive Analysis

Innovation and Technology

• Newcleo differentiates through advanced LFR technology, particularly in nuclear waste recycling and energy efficiency.

• Competitors like NuScale and Westinghouse also emphasize modularity, safety, and cost-effectiveness, creating strong competition in SMR innovation.

M&A in similar companies

• Significant increase in nuclear industry M&A activity, particularly in North America:

  • 2022: 17 deals worth $11.1 billion

  • 2023: 15 deals valued at approximately $9.7 billion

• Driven by heightened interest in advanced nuclear technologies and sustainable energy solutions.

Small Modular Reactors (SMRs)

• Increasing investment interest, exemplified by:

  • X-energy: Raised $500 million Series C-1 round, led by Amazon.

  • NuScale: Achieved regulatory approval for SMR designs, stimulating further market activity.

Strategic Acquisitions

• Companies acquiring innovative nuclear technologies for competitive advantage:

  • NANO Nuclear Energy: Acquired patented micro-modular reactor technologies to expand its product offerings.

What is NewCleo's biggest strength?

Stefano Buono CEO and Chairman: A nuclear physicist who worked for ten years with physics Nobel laureate Carlo Rubbia at CERN and CRS4 in the field of accelerator-driven systems and atomic waste transmutation

In 2002, he founded Advanced Accelerator Applications, listed on NASDAQ (AAAP) from 2015 until its acquisition by Novartis for $3.9 billion.

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NewCleo headquarter

Newcleo's headquarters has recently been relocated from London to Paris, France. This strategic move aims to strengthen European partnerships and access institutional funding to accelerate the development of its modular nuclear reactors36. Prior to the relocation, Newcleo's headquarters was located at 55 South Audley Street, London, W1K 2QH, United Kingdom. The company maintains a presence in London and operates across multiple locations in Europe, including France, Italy, the UK, Switzerland, and Slovakia.

NewCleo Valuation

As of May 2024, Newcleo had already raised €526.6 million across three funding rounds, with significant investments from various international investors​

Year Founded

2021

NewCleo employee count

• Over 950 Employees: A source indicates that Newcleo has over 950 employees as of October 2024.These numbers reflect Newcleo's rapid growth and expansion in the nuclear energy sector.

NewCleo Leadership

Stefano Buono – Founder and CEO
Leads strategic direction, innovation in nuclear technologies, and sustainable energy solutions.

1. Elisabeth Rizzotti – Co-founder, Managing Director (Italy)
   Oversees global and Italian operations; specializes in operational management and strategic planning.

2. Luciano Cinotti – Chief Scientific Officer
   Directs nuclear technology innovation and scientific development of reactor designs.

3. Alberto De Min – Chief Business Officer, Managing Director, Switzerland
   Manages strategic business development, partnerships, and Swiss operations.

4. John Fenwick – Chief Information Officer
   Oversees IT systems, digital strategy, and data management.

5. Massimo Marino – Chief Education and Academic Relations Officer
   Develops educational collaborations and academic partnerships supporting R&D efforts.

6. Andrew Murdoch – Managing Director, UK
   Leads UK projects, infrastructure, and reactor deployment initiatives.

7. Richard Tuffill – Chief Financial Officer
   Oversees financial strategies, funding management, and financial stability.

8. David Vannier – Chief Government Affairs Officer
   Manages governmental relations, regulatory compliance, and strategic policy engagement.

9. Laura Vergani – Chief Communications Officer
   Leads communication strategies, media relations, and public outreach.

10. Ludovic Vandendriesche – Managing Director, France
    Directs strategic development and manages operations and partnerships in France.

11. Khalil Bukhari – General Counsel
    Oversees legal strategy, regulatory compliance, and legal risk management.

NewCleo Ownership

Founders

• Stefano Buono – Founder and CEO

  • Italian physicist and entrepreneur.

  • Former CERN researcher, collaborated with Nobel laureate Carlo Rubbia.

  • Previously founded Advanced Accelerator Applications.

• Elisabeth Rizzotti – Co-founder, Managing Director (Italy)

  • Background in physics, strategic consulting, and banking.

  • Oversees global operations and Italian market development.

Ownership Structure

• Privately held; ownership includes founding team and external venture investors.

• Investors include venture capital firms and strategic private investors.

• Emphasis on transparency and accountability in governance structure.

Notable Investors

Institutional Investors

• IPO CLUB

• Exor Seeds: Venture arm of Agnelli-Elkann family’s holding company, Exor.

• Azimut Group: Prominent institutional investor providing strategic financial backing.

• Azimut Group: Major institutional investor supporting Newcleo's growth initiatives.

Venture Capital Funds

• Kairos Ventures: Participates in early-stage financing and supports strategic development.

• Progress Tech Transfer Fund: Provides targeted investment in technology-focused companies.

• Indigo Venture I: Contributes strategic support and venture funding.

• Kairos Venture ESG One Fund: Supports sustainable technology and energy solutions.

• Kairos Partners SGR: Investment fund actively involved in sustainable and innovative ventures.

Corporate Investors

• Walter Tosto SpA: Italian industrial leader in precision manufacturing and engineering services.

• Ingka Investments (IKEA Group): Part of IKEA’s investment arm, supporting sustainable and innovative projects.

Engineering and Industrial Partners

• Walter Tosto: Italian heavy-industry firm specializing in manufacturing equipment for nuclear reactors.

• Ingérop: French nuclear engineering and consultancy firm partnering with Newcleo on reactor development.

Family Offices and Individual Investors

• Investments from prominent families and individuals, including:

  • Badstok family

  • Paul Merloni

  • Ian Lundin

  • Claudius Coste

NewCleo Valuation

Current Valuation: Estimated between €1 billion and €2 billion (according to Dealroom), reflecting its status as Europe's best-funded nuclear startup.

• Total Funding Raised: Over €535 million secured to date.

• Future Funding Targets: Planning an additional €1 billion funding round, expected to significantly enhance its valuation and support continued growth.

Newcleo is currently Europe’s best-funded nuclear energy startup, positioned for significant growth through ongoing fundraising initiatives.

NewCleo Stock

Stock price source: IPO CLUB Valuation at Market© - Become a member for in-depth coverage

NewCleo IPO

Current Valuation: Estimated between €1 billion and €2 billion (according to Dealroom), reflecting its status as Europe's best-funded nuclear startup.

• Total Funding Raised: Over €535 million secured to date.

• Future Funding Targets: Planning an additional €1 billion funding round, expected to significantly enhance its valuation and support continued growth.

Newcleo is currently Europe’s best-funded nuclear energy startup, positioned for significant growth through ongoing fundraising initiatives.

Introducing NewCleo

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