Newcleo to List on Nasdaq at $2.4 Billion, Targeting Up to $429 Million
Updated
Updated · Reuters · May 27
Newcleo to List on Nasdaq at $2.4 Billion, Targeting Up to $429 Million
2 articles · Updated · Reuters · May 27
Summary
$2.4 billion is the valuation Newcleo secured in its merger with NewHold Investment Corp III, a Nasdaq listing expected to close in the second half of 2026.
Up to $429 million in gross proceeds would fund faster reactor deployment and fuel manufacturing in Europe and the United States, while existing shareholders roll over 100% of their equity.
Newcleo is developing lead-cooled small modular reactors and fuel made from reprocessed nuclear material, positioning its technology around both clean power demand and nuclear-waste reduction.
In the United States, the company is also working with Sam Altman-backed Oklo on a Department of Energy program to study using surplus Cold War-era plutonium as reactor fuel.
Since its 2021 founding, Newcleo has raised about $780 million from private investors, reflecting stronger market interest in nuclear power as AI and data-center electricity demand climbs.