newcleo completes acquisition of SRS and Fucina

newcleo completes announced acquisition of SRS-Fucina Group, worldwide leaders in the design and building of nuclear systems deploying liquid lead technology
• Acquisition adds more than 110 skilled employees to workforce, enhancing newcleo’s strong nuclear engineering capabilities as part of its industrialisation strategy

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LONDON, UK – 3 October 2023newcleo, the clean and safe nuclear technology company developing innovative Generation IV reactors using nuclear waste as fuel, has announced today that it has closed its previously announced acquisition of S.R.S. Servizi Ricerche e Sviluppo S.r.l. (“SRS”), and of Fucina Italia S.r.l. (“Fucina” – the two firms are jointly referred to as the “SRS-Fucina Group”).

Both based in Italy, SRS and Fucina are worldwide leaders in the design and building of nuclear systems deploying liquid lead technology, the technology at the heart of newcleo’s innovative design.

This acquisition is a step change for newcleo, completed within two years of the company’s launch. SRS-Fucina Group, which employs more than 110 people, will provide outstanding capabilities for nuclear engineering, manufacturing and waste management, helping to boost the delivery of the newcleo vision based on innovative Lead Fast Reactor (LFR) technology and the use of MOX as fuel.

Under newcleo’s ownership, SRS-Fucina Group will continue to serve its blue chip customer base and generate revenue, whilst becoming integral to the delivery of newcleo’s ambitious plans.

The completion of the acquisition is a significant milestone in newcleo’s global strategy to create a global manufacturing capability through a mix of European suppliers, key partnerships and acquisitions.

Stefano Buono, newcleo Chairman and CEO, commented:

“I am delighted to formally welcome the SRS Fucina team to newcleo.

The completion of this acquisition marks a key step in our industrialisation strategy, as we work to build a fully-integrated end-to-end approach to nuclear development, operations and waste reduction through targeted acquisitions and partnerships.

We all look forward to working with our skilled new colleagues, and to go from strength to strength together and move closer to the delivery of the next generation of nuclear.