Nuclear energy firm Newcleo has announced a merger with NewHold Investment Corp III to list on Nasdaq, valuing the company at $2.4 billion. Founded by Italian physicist Stefano Buono, Newcleo specializes in advanced modular lead-cooled fast reactors and nuclear fuel from reprocessed materials. The merger is expected to generate up to $429 million in fundraising proceeds and is slated for completion in the second half of 2026.
In addition, Newcleo will collaborate with Oklo Inc., supported by Sam Altman, on a U.S. Department of Energy initiative. This project aims to explore the use of plutonium materials from the Cold War era as nuclear reactor fuel, marking a significant step in sustainable nuclear energy development.
Newcleo to Go Public on Nasdaq via $2.4 Billion Merger
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