Published by Global Banking & Finance Review®
Posted on June 3, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on Google
Newcleo and JAVYS partner to develop advanced nuclear reactors in Slovakia, focusing on using spent nuclear fuel to enhance energy security.
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)
The joint venture aims to develop advanced nuclear reactors using spent nuclear fuel, focusing on constructing four lead-cooled fast reactors at the Jaslovské Bohunice site.
JAVYS will hold a 51% stake in the newly established joint venture, while Newcleo will own the remaining 49%.
Peter Gerhart believes the project will enhance energy security, create hundreds of qualified jobs, and attract significant investments to Slovak industry.
The announcement of the joint venture was made after a meeting in Rome between Italian Prime Minister Giorgia Meloni and Slovak Prime Minister Robert Fico.
Newcleo is developing small modular reactors powered by reprocessed nuclear waste, specifically lead-cooled fast reactors (LFRs).
Explore more articles in the Headlines category
