Newcleo debuts on Nasdaq to fund liquid lead reactor technology

Newcleo, a nuclear technology company founded by Stefano Buono, has debuted on the Nasdaq following a business combination with the SPAC NewHold Investment Corp. III. The operation raised approximately $247 million in gross proceeds, though experts note that after accounting for transaction costs and redemptions, the net financing is estimated to be closer to $196 million.

Newcleo specializes in developing lead-liquid technology (LFR) reactors that operate at atmospheric pressure and high temperatures to reduce explosion risks. These reactors may potentially utilize reprocessed nuclear waste as fuel. The company plans to test a 10 megawatt-hour demonstrator in Italy, while its first commercial 30 MWe reactor is targeted for operation in France by 2032.

The listing coincides with legislative developments in Italy, where the Meloni government is seeking Senate approval for a nuclear energy delegation bill. The government aims to establish the first Italian nuclear plant by 2035, focusing on small modular reactors (SMR) and advanced technologies to improve energy efficiency and reduce electricity costs.