Newcleo's commercial 200 MWe lead-cooled fast reactor is designed to generate power using spent nuclear fuel from existing nuclear plants. The company operates in Italy as part of its European deployment strategy, working with Italian industry partners. Newcleo raised €75 million ($88 million) in its latest round in early 2026, bringing 2025 fundraising to over €124 million and total funding since 2021 to likely more than €645 million. The design targets grid power and nuclear waste recycling simultaneously.