Italy’s Maire subsidiary NextChem and France-based innovative reactor developer Newcleo have made definitive agreements to create innovative solutions for the nuclear industry.
The partnership aims to develop commercial-scale nuclear plants featuring Newcleo’s 200 megawatts electrical (MWe) advanced modular reactor (AMR) technology.
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The focus is on the established island and balance of plant components, crucial for converting nuclear energy into electric power.
The partners will establish Nextcleo, a newly incorporated joint venture company.
NextChem will hold a majority stake of 60% in Nextcleo, while Newcleo will own the remaining 40%.
The strategic alignment will see NextChem maintaining operational control and full consolidation of Nextcleo.
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By GlobalDataMaire CEO Alessandro Bernini commented: “We are very happy to join forces with Newcleo to set a new standard in the energy transition arena. With Nextcleo, we start a new path to industrialise carbon-neutral chemistry models based on safe, reliable and competitive energy supply.”
The agreement includes a seven-year lock-up period, after which pre-emption rights come into play. However, this does not restrict the stake Newcleo will grant to NextChem.
The transaction’s completion is anticipated in the latter half of 2025, pending approvals, including the Italian Golden Power regulation.
Nextcleo plans to harness the combined expertise of both shareholders to create new intellectual property.
It will focus on developing the nuclear island (which houses the nuclear reactor and related systems) with its LFR(lead-cooled fast reactor)-AS-200 technology, while NextChem will contribute its knowledge to the conventional island (the part of the plant that generates electricity) and balance of plant, alongside project management services for the LFR technology.
The joint venture will contribute to decarbonising the chemical industry by producing low-carbon chemicals and e-fuels.
It will also offer integration services to other small modular reactor (SMR) and advanced modular reactor (AMR) technology providers.
Maire’s company Tecnimont will benefit from preferred partner status for project delivery, leveraging advanced modularisation techniques to optimise construction and reduce costs.
According to Newcleo’s timeline, a non-nuclear precursor prototype of the AMR is expected in Italy by 2026, with the first operational reactor in France by 2031.
The first commercial plant’s final investment decision by Newcleo is projected for 2029.
The LFR-AS-200 technology promises safe nuclear energy and supports a circular economy through nuclear waste reprocessing and recycling. In March 2025, Newcleo and iron and steel industry leader Danieli formed a memorandum of understanding (MoU) to investigate the potential integration of Newcleo’s LFRs with Danieli’s advanced steelmaking technology.
