Relocation of Newcleo’s head office from the UK to France

Newcleo announced the move of its headquarters to Paris, underlining that this step puts it in a favorable position to attract European investments and subsidies, especially with the new European Energy Commissioner focused on the development of small modular reactors. Founded in 2021, Newcleo has more than 850 employees in five countries and has ambitious goals: to develop a precursor reactor in Italy by 2026 and a MOX production plant in France by 2030, with plans to start commercial reactor production from 2033. The move involves no staff movements and the company still aims to build its first commercial reactor in the UK by 2033. CEO Stefano Buono said the move is strategic to deepen European partnerships and raise funds. The company has closed a capital raising round in the UK and plans to reopen one in France, having already raised over €535 million from various investors. Recently, Newcleo applied for approval for a lead-cooled fast reactor in the UK and signed an agreement with a Slovakian company to explore the implementation of its technology in the country.