Energy Transition & Power Demand▲impact 4
newcleo advances MOX fuel licensing in France and enters new collaboration phase with French authorities
newcleo has received a positive safety opinion from France's ASNR for its planned MOX fuel facility and is entering a new collaboration phase with French authorities after outgrowing the France 2030 program. The ASNR concluded that the safety provisions proposed by newcleo are satisfactory and capable of meeting French nuclear safety objectives, while also identifying areas for further development as the project advances. The General Secretariat for Investments informed the company that the amount of money raised and its level of development have surpassed the scope of the France 2030 program, leading to different forms of cooperation including licensing support and export-facing initiatives. newcleo is also awaiting an ASNR opinion on its Lead-Cooled Fast Reactor design and is conducting a three-month public debate on its French projects. The company recently announced a business combination with NewHold Investment Corp. III that values newcleo at a pre-money equity value of approximately $2.4 billion and is expected to provide up to $429 million in gross proceeds.