Companies Maire S.p.A, through its subsidiary Nextchem, and French company Newcleo have announced the creation of a joint venture named NextCleo, aimed at designing and managing conventional islands and auxiliary systems for advanced modular nuclear power plants with a capacity of 200 MW.
Partnership distribution and structure
According to the binding agreement signed by both entities, Nextchem will hold 60% of NextCleo, while Newcleo will own 40%. The agreement also provides for Nextchem to initially acquire a 1.25% stake in Newcleo, potentially rising to approximately 5%, contingent upon reaching specific milestones. The transaction is expected to close in the second half of 2025.
Newcleo will directly handle the technological development of its advanced reactor, the Lead-cooled Fast Reactor Advanced System 200 (LFR-AS-200), while Nextchem will leverage its industrial expertise to deliver extended basic design, procure proprietary equipment essential for the conventional island, and manage the overall project.
Industrial and technological objectives
The company NextCleo also plans to offer its technical services to other providers active in the small and advanced modular reactor market. This strategy aims to position NextCleo as a key player within this particular industrial segment, marked by high demand for reliable modular technological solutions.
The first non-nuclear prototype of the reactor developed by Newcleo is scheduled for 2026 in Italy, with the first operational reactor expected in France by late 2031. The final investment decision for the first commercial plant is anticipated around 2029.
Complementary fuel development
In parallel, Newcleo intends to directly invest in the production of mixed uranium-plutonium oxide (MOX) nuclear fuel required for the operation of its reactors. A pilot MOX fuel assembly line is planned at the Nogent-sur-Seine site in France, where land acquisition and public consultation processes have already begun.
Additionally, a separate partnership with Slovak company Javys has been initiated to establish up to four modular LFR-AS-200 reactors at the existing Bohunice nuclear power plant site in Slovakia.
Recently, Newcleo appointed Andrea Ruben Levi as Chairman of the Board of Directors, clearly separating executive and non-executive roles to strengthen corporate governance in line with the group’s ambitious strategic growth plan.
