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Nuclear Power Startup Newcleo Raises $315 Million for UK, France Expansion

Technology to shrink nuclear plants could help bring down costs

Corrected

Nuclear power startup Newcleo raised 300 million euros ($315 million) to help the company develop its technology toward its first pilot projects in France and the UK. 

The London-based company aims to bring down the development and production costs of nuclear power so it can play a bigger role in the transition away from fossil fuels. While the technology is still in early stages, it could benefit UK and French aspirations to scale new kinds of nuclear technologies as part of wider efforts to build reliable, zero-carbon power sources.