Newcleo presses ahead with Nasdaq debut to fund next-generation nuclear technology
NHIC•Partnership with Oklo
Newcleo will work with Sam Altman-backed Oklo Inc. (OKLO.N) on a programme launched by the U.S. Department of Energy to explore the potential use of the country's Cold War-era plutonium as nuclear reactor fuel.
Nasdaq listing plan advances
MILAN, July 13 (Reuters) - Nuclear energy startup Newcleo is pressing ahead with its plan to list on the Nasdaq stock exchange, a transaction that could provide badly needed funds for its innovative business, regulatory filings showed.
The firm, which is developing advanced modular lead-cooled fast reactors and nuclear fuel from reprocessed nuclear material, filed documents with the U.S. Securities and Exchange Commission (SEC) last week.
The company founded by Italian physicist Stefano Buono plans to list on the Nasdaq through a merger with NewHold Investment Corp III (NHIC.O) in the second half of the year.
Financial losses and cash position
Newcleo's net loss widened to €140 million ($160 million) in 2025 from €110 million in 2024 as research and development and general expenses increased while revenue fell, documents filed with the SEC showed.
The company's cash fell to €105 million from €193 million in 2024.
Auditing firm Grant Thornton signalled doubts about Newcleo's ability to continue as a going concern due to its recurring net losses.
The company aims to raise up to $429 million through its listing, the filing showed.
