Newcleo suspends UK lead-cooled fast reactor project due to lack of government support

Newcleo, a UK-based energy company founded in 2021, has announced that it will suspend its programme to develop lead-cooled fast reactors (LFR) in Britain. The decision stems from the lack of support and funding from the UK government, despite multiple attempts to engage with political stakeholders. LFR technology, which is smaller, more efficient, and designed for on-site assembly, was expected to help power around 1.6 million homes in the UK with a total investment of £4 billion. Newcleo had planned to recycle the UK’s stored plutonium for use in these reactors, but the government has decided not to make this resource available for the foreseeable future. The company’s CEO, Stefano Buono, expressed disappointment over the situation, stating that political and financial support has been directed towards other nuclear technologies, particularly small modular reactors (SMRs). Consequently, Newcleo will shift its focus to markets abroad, where it has already formed partnerships in Slovakia and Lithuania to develop similar LFR projects. In these countries, government support and access to spent nuclear fuel have been more forthcoming.