Nuclear Company Newcleo Plans to Go Public on NASDAQ via SPAC, Valued at $2.4 Billion
According to Reuters, nuclear company Newcleo announced on Wednesday that it has reached a merger agreement with NewHold Investment Corp III, planning to go public on NASDAQ via SPAC, with the transaction expected to be completed in the second half of 2026.
Founded by Italian physicist Stefano Buono, Newcleo is developing advanced modular lead-cooled fast reactors and nuclear fuel made from reprocessed nuclear materials. The deal will value the company at $2.4 billion and is expected to bring in up to $429 million in total financing proceeds.
Newcleo will also collaborate with Oklo Inc., supported by Sam Altman, to participate in a U.S. Department of Energy program to study the use of plutonium materials left over from the Cold War as fuel for nuclear reactors.
Source: Public Information
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Newcleo previously focused on advanced reactor R&D in Europe, and this SPAC listing continues its transition from private technology development to the public market. The collaboration with Oklo indicates its deep integration into the U.S. nuclear fuel cycle strategy, leveraging influence from figures like Sam Altman to accelerate technology validation and financing.
In terms of capital strategy, Newcleo is using SPAC financing for the commercialization of modular reactors and iterations of fuel cycle technology, aiming to capture the global nuclear energy revival wave, especially with the rapid growth in demand for small modular reactors (SMRs) driven by high energy consumption in AI data centers.
The current enthusiasm for advanced nuclear companies like Oklo and NuScale in the capital markets, along with the backdrop of several European countries restarting nuclear power policies, places Newcleo in a phase of expansion driven by both technology R&D and commercial deployment.
Essentially, this represents capital concentration and industrial chain restructuring: advanced nuclear companies are quickly going public via SPACs, with the mechanism being that modular lead-cooled fast reactors and closed fuel cycle technologies significantly reduce costs and waste risks, attracting capital from traditional fossil fuels and renewable energy towards new-generation nuclear infrastructure, promoting a global energy transition from intermittent power sources to stable, high-density clean energy.
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