Maire S.p.A. has announced a significant partnership with newcleo Holding SA, signing an agreement to establish a Joint Venture Company (JVC) aimed at developing a new generation of commercial-scale power plants utilising newcleo’s 200 MWe Advanced Modular Reactor (AMR) technology. This collaboration involves Maire’s subsidiary, NEXTCHEM, which specialises in sustainable technology solutions.
The JVC is set to accelerate the development and commercialisation of the ‘LFR-AS-200’ technology, which embodies a circular economy model by using mixed oxide (MOX) as fuel, derived from reprocessed nuclear waste. The first non-nuclear prototype of the AMR is anticipated to be operational by 2026 in Italy, with the first reactor expected to be functional in France by the end of 2031. A final investment decision for the first commercial power plant is projected around 2029.
Under the agreement, newcleo will acquire a 40% stake in the newly formed company, which will focus on creating new intellectual property and providing technical services. This partnership will enable NEXTCHEM to receive newly issued shares of up to 5% of newcleo’s share capital, contingent upon achieving specific milestones.
NEXTCHEM will contribute its expertise in management, engineering, and a dedicated commercial platform for deploying LFR-AS-200 projects, complementing newcleo’s growing proficiency in the nuclear sector. The JVC aims to develop its own intellectual property, with newcleo focusing on the nuclear reactor design and NEXTCHEM enhancing the project management and integration services.
The JVC will also extend its services to other Small Modular Reactor (SMR) and AMR technology providers, fostering industrialisation in the energy transition for various customers interested in Generation IV nuclear technologies.
TECNIMONT has been designated as a preferred partner for project delivery, leveraging its advanced modularisation techniques to optimise construction and planning, thereby reducing time and costs.
The transaction is expected to be finalised by the end of February 2025. Alessandro Bernini, CEO of Maire, emphasised the collaboration as a testament to the company’s commitment to providing comprehensive services for energy transition, combining innovative sustainable technology solutions with traditional engineering expertise.
