newcleo finalises relocation of HQ to France and closes UK tranche of its Series A with EUR 135m 

• Move underscores company’s European ambitions 

• Relocation to Paris will facilitate funding from European investors 

30 September 2024, Paris, France – newcleo, the clean and safe nuclear technology company, has confirmed the relocation of its holding headquarters from London to Paris. 

The decision to relocate to France reflects newcleo’s unwavering focus on growing its European presence and delivering its ambitious timelines and strategic projects. These include the development of a precursor reactor in Italy by 2026, the establishment of a MOX manufacturing plant in France by 2030, the construction of a prototype reactor in France by 2031, and the delivery of commercial reactors starting from 2033. 

The move aims to facilitate the company's growth as the business expands its global operations through its international footprint, which today counts over 90 partnerships, and more than 850 employees based in 19 locations across France, Italy, the UK, Switzerland and Slovakia, including three manufacturing facilities. 

The move does not involve staff transfers between any of the countries where newcleo operates, ensuring business continuity as the company advances its mission. Positioning its headquarters in Paris opens up newcleo’s access to a broader range of European funding opportunities. The company is now better placed to secure significant investments and grants from European institutions and institutional investors.

Accordingly, newcleo has taken the decision to close the UK phase of its Series A capital raise and will reopen it in France later this year to further facilitate investments from French and European parties. At the date of the tranche closing, the company has raised a total of over EUR 535m from institutional and individual investors, of which EUR 135m has been subscribed and paid from the UK Series A tranche. 

This latest tranche has seen an increasing number of European players joining newcleo’s growing investor base (which to date counts well over 700 shareholders) including funding from Inarcassa (Italian National Pension and Security Fund for Engineers and Architects), Walter Tosto (a leading Italian nuclear engineering and manufacturing company), Ingérop (a leading French nuclear engineering and consulting company), family offices and individual investors active in AI and data centres development. 

With the newly appointed European Commissioner for Energy given a specific mandate to accelerate the development of small modular reactors (SMRs), newcleo’s relocation comes at a crucial time. This move will strengthen its role in supporting the European Union’s drive towards clean and secure energy and align newcleo with the EU’s ambitious goals for energy transition.

 Stefano Buono, founder, CEO and Chairman of newcleo, commented: "Relocating our headquarters to Paris is a strategic milestone in accelerating our mission to deliver the next generation of sustainable nuclear energy. We are now better positioned to deepen our European partnerships and tap into funding resources from institutional and industrial investors. This move aligns with our commitment to making a global impact by closing the nuclear fuel cycle and providing a clean, safe, and reliable energy source."