newcleo advances MOX fuel licensing in France and enters new collaboration phase with French authorities

newcleo advances MOX fuel licensing in France and enters --> Accessibility: Skip TopNav newcleo advances MOX fuel licensing in France and enters new collaboration phase with French authorities July 17, 2026 14:25 ET | Source: Newcleo SA Newcleo SA ASNR considers as satisfactory the safety program proposed by newcleo for its planned MOX fuel facility. The Company will incorporate the insights gained through the ASNR opinion in the ongoing development and planning of its project. SGPI informs the Company that the amount of money raised by newcleo along with its level of development has surpassed the scope of the France 2030 program, leading to different forms of collaboration with French institutions. PARIS, July 17, 2026 (GLOBE NEWSWIRE) -- newcleo (or the “Company”), a pioneer in advanced modular reactor (“AMR”) technology and nuclear fuel manufacturing, today announced a significant regulatory milestone for its planned mixed-oxide (“MOX”) fuel facility in France. The company is also entering a new phase of collaboration with French authorities following the evaluation of new cleo's application for Phase 2 of the France 2030 innovative nuclear reactor program. French safety approach considered satisfactory by the ASNR The French Nuclear Safety and Radiation Protection Authority ( Autorité de sûreté nucléaire et de radioprotection ) (“ASNR”) has published on 13 July 2026 its opinion on all the safety features proposed by new cleo for its planned French MOX fuel facility, concluding that the provisions adopted by the Company for its safety approach are satisfactory at this stage. In December 2024, new cleo submitted a safety approach dossier to the French nuclear safety authority for its planned MOX fuel fabrication facility in France. Following its review, the ASNR has concluded that the provisions proposed by new cleo for the facility’s safety demonstrations which are envisioned are satisfactory and, overall, are capable of meeting the objectives established under the applicable French nuclear safety framework. The ASNR’s opinion also identifies areas to be developed further as the project advances. new cleo intends to incorporate the ASNR’s recommendations into the facility design in support of a future construction license application. The French review gives new cleo practical experience in developing the safety case for a first-of-a-kind MOX fuel manufacturing facility. The Company is also progressing through a similar regulatory process for its Lead-Cooled Fast Reactor (LFR) design and is currently awaiting the opinion of the ASNR on its proposed safety features. In parallel, new cleo is carrying out a three-month public debate on its proposed French LFR and MOX fuel facility projects, becoming the first private developer of an innovative reactor technology to complete this key stage of stakeholder engagement in France. The Company will carefully assess the conclusions of the National Commission for the Public Debate ( Comission Nationale du Dèbat Public ), incorporating the insights gained into the ongoing development and planning of its projects. France 2030 innovative reactor program Following the detailed evaluation of new cleo's application for Phase 2 of the France 2030, the General Secretariat for Investments ( Secrétariat general pour l’investissement ) (“SGPI”) concluded that new cleo has reached a stage of development that exceeds the scope of the program. Since participating in the program, the Company has raised a significant amount of capital, which highlights the program's catalytic effect. new cleo has also achieved a significant international presence, and, on May 27, 2026, announced that it had entered into a definitive agreement for a business combination with NewHold Investment Corp. III (NASDAQ: NHIC) in a transaction that, upon closing, would result in new cleo becoming a U.S.-listed public company. The transaction values new cleo at a pre-money equity value of approximately $2.4 billion and is expected to provide up to $429 million in gross proceeds, assuming no redemptions by SPAC shareholders. As a result, considering these developments, which were obtained thanks also to the France 2030’s initial support to the Company in 2023, a limited additional contribution of public funding to the project would be marginal and ineffective. In this context, the French State will continue working with new cleo to identify other forms of cooperation in the next stage of the Company's development, including through licensing support with the ASNR, state services in connection with the Company’s proposed projects in the French territory and through export-facing initiatives. Stefano Buono, CEO and Founder of new cleo said: “We welcome the ASNR’s positive opinion, which reflects years of work by the teams developing our MOX fuel facilities. We are proud to contribute to France’s nuclear industry, and we thank France 2030 for its support, which has accelerated our technology development, strength