LONDON, UK – 11 October 2023 – newcleo, the Gen-IV nuclear technology company, has signed a cooperation agreement with the Tosto Group, leading manufacturers of large components and pressure equipment in the chemicals, oil & gas and energy sectors, including nuclear.
This partnership will join the two industry leaders into a synergetic, rolling long-term contract of collaboration that encompasses all stages of newcleo’s project: research, design and demonstration to industrialisation of its small modular lead-cooled fast reactors. The partnership will be further strengthened by a work for equity mechanism that will allow the Tosto Group to fully invest in newcleo, making them an integral part of newcleo’s achievements.
The Tosto Group consists of seven companies headquartered in Italy and Romania. The two major enterprises, Walter Tosto (Chieti, Italy) and Belleli Energy CPE (Mantua, Italy), are recognised as top quality worldwide suppliers of critical and long lead process equipment, thanks to their consolidated know-how, extensive track record, unique equipment and strategic water-front manufacturing locations.
newcleo’s target continues to be the delivery of a 30 MWe lead-cooled fast reactor (LFR) demonstrator, followed by a 200 MWe commercial unit; this is reinforced by combining newcleo’s design and engineering capabilities with Tosto Group’s proven expertise in the manufacturing design of the most critical components as well as fabrication processes aspects.
newcleo and Tosto Group will collaborate on several activities aimed at studying and perfecting manufacturing, fabrication and installation encompassing the whole reactor life, underpinning the technological development of the LFR-AS designs with proven manufacturing and implementation expertise.
In this first stage of the cooperation, the companies’ joint efforts will focus on: fabrication and installation sequence studies; installation tools and jigs conceptualisation; transportation plans; storage and site erection instructions; research, development and qualification on structural materials and coatings, also via participation to EU funded programs; code evolution recommendations relevant for LFR construction.
Stefano Buono, newcleo Chairman and CEO, commented:
“At newcleo we are setting ourselves up for success, putting in place partnerships with the leaders of the relevant sectors. We are laser-focused on our very ambitious timelines of delivery, and this industrial partnership with the Tosto Group will help us further ground our vision. They bring strong and proven expertise to ensure we are set up for the best manufacturing for our large reactor components.“
Luca Tosto, Managing Director of the Tosto Group, added:
“We are proud to collaborate with newcleo, a forward-thinking leader in Gen-IV nuclear technology. This partnership reflects our commitment to innovation and sustainable energy solutions and underscores our dedication to the nuclear sector, where we are actively investing and expanding our business division. Together, we will drive advancements in manufacturing and contribute to the success of newcleo‘s pioneering projects.”
About Tosto Group
With over 1200 employees and a consolidated turnover of 200 million €, the Tosto Group comprises seven companies with headquarters in both Italy and Romania. Among these, the standout enterprises are Walter Tosto, situated in Chieti, Italy, and Belleli Energy CPE, based in Mantua, Italy. These two industry leaders have earned global recognition as premier suppliers of critical and long-lead process equipment. Their reputation is built upon a solid foundation of extensive expertise, a proven track record, innovative equipment solutions, and strategically positioned waterfront manufacturing facilities.