Jul 31, 2025
Energy company newcleo announced it will halt the development of its UK lead-cooled fast reactor.
Energy company newcleo announced on Wednesday that it will halt its development of lead-cooled fast reactors (LFR) in the UK and significantly reduce its operations there due to insufficient government support and funding.
LFRs are advanced nuclear reactors that are smaller and more efficient than traditional reactors, capable of being factory-built and assembled on-site for industrial heating and hydrogen production.
Founded in 2021 and based in the UK, newcleo had aimed to develop up to four reactors in the country, generating 800 megawatts—enough to supply power to around 1.6 million homes—representing an investment of approximately £4 billion ($5 billion).
The company stated it had been in discussions with successive UK governments regarding access to the country's stored plutonium, which was intended for recycling in the reactors.
"Unfortunately, despite numerous efforts to engage with political stakeholders, the UK government has opted not to make its plutonium available for the foreseeable future and has chosen to support and fund other technologies instead," said Stefano Buono, founder and CEO of newcleo.
The company noted that while other small modular reactor technologies have received support and funding, LFR developers like newcleo have not. As a result, it will pivot to other key markets.
In Slovakia, newcleo has formed a joint venture with state-owned nuclear company JAVYS to build up to four LFRs utilizing the country’s spent nuclear fuel, which has received government endorsement.
In June, a similar agreement was signed with the Lithuanian government.
"Newcleo believes these markets present better opportunities than the UK at this time, prompting the decision to concentrate on regions more compatible with its offerings," the company stated.
LFRs are advanced nuclear reactors that are smaller and more efficient than traditional reactors, capable of being factory-built and assembled on-site for industrial heating and hydrogen production.
Founded in 2021 and based in the UK, newcleo had aimed to develop up to four reactors in the country, generating 800 megawatts—enough to supply power to around 1.6 million homes—representing an investment of approximately £4 billion ($5 billion).
The company stated it had been in discussions with successive UK governments regarding access to the country's stored plutonium, which was intended for recycling in the reactors.
"Unfortunately, despite numerous efforts to engage with political stakeholders, the UK government has opted not to make its plutonium available for the foreseeable future and has chosen to support and fund other technologies instead," said Stefano Buono, founder and CEO of newcleo.
The company noted that while other small modular reactor technologies have received support and funding, LFR developers like newcleo have not. As a result, it will pivot to other key markets.
In Slovakia, newcleo has formed a joint venture with state-owned nuclear company JAVYS to build up to four LFRs utilizing the country’s spent nuclear fuel, which has received government endorsement.
In June, a similar agreement was signed with the Lithuanian government.
"Newcleo believes these markets present better opportunities than the UK at this time, prompting the decision to concentrate on regions more compatible with its offerings," the company stated.