Published by Global Banking and Finance Review
Posted on June 3, 2025
MILAN (Reuters) -Nuclear start-up Newcleo has agreed to set up a joint venture with Slovakia's JAVYS on the use of spent nuclear fuel, the company founded by Italian physicist Stefano Buono said on Tuesday.
The announcement came after Italian Prime Minister Giorgia Meloni hosted a meeting in Rome with her Slovak counterpart Robert Fico.
WHY IT'S IMPORTANT
Newcleo is developing small modular reactors powered by reprocessed nuclear waste. The company aims to build so-called lead-cooled fast reactors (LFRs) that will enable Slovakia's spent nuclear fuel to be used as propellant.
The newly established joint venture, in which JAVYS will hold a 51% stake and Newcleo the remaining 49%, will focus on constructing four LFR reactors at the Jaslovské Bohunice site in Slovakia.
KEY QUOTE
"This project will not only strengthen our energy security but it will also create hundreds of qualified jobs and can attract significant investments to Slovak industry," JAVYS Chairman Peter Gerhart said in a statement.
(Writing by Francesca Landini; Editing by Giselda Vagnoni and Alvise Armellini)
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