Newcleo, a London-based nuclear company, and Tosto Group, a provider of large components and pressure equipment, have announced a strategic partnership to collaborate on the development of newcleo’s small modular lead-cooled fast reactors (LFR), as reported by Reuters on October 11. According to their joint statement, the partnership entails a long-term contract where the two companies will work together on various projects, including the fabrication and installation of the advanced reactors.

A significant aspect of this collaboration is the incorporation of a work-for-equity mechanism, allowing Tosto Group to make substantial investments in newcleo. This financial arrangement is expected to enhance the collaboration and contribute to the successful development of the LFR technology. Newcleo’s innovative project involves the creation of small modular reactors that produce energy by utilizing mixed oxide fuels derived from the recycling of spent fuel from existing nuclear power plants. The immediate objective of this partnership is to deliver a 30-megawatt electric (MWe) lead-cooled fast reactor demonstrator, which is planned for deployment in France by 2030. Following this milestone, newcleo aims to develop a larger 200 MWe commercial unit. The collaboration with Tosto Group is integral to achieving these goals, as Tosto Group brings a wealth of expertise to ensure the optimal manufacturing of the large reactor components required for the project’s success.

Sources:

https://www.reuters.com/business/energy/nuclear-energy-firm-newcleo-tosto-team-up-lead-cooled-fast-reactors-2023-10-11/