European firms partner to build 200 MW modular nuclear power plant

European firms Newcleo and Nextchem have formed a joint venture, NextCleo, to develop nuclear power plants based on Newcleo’s 200 MW lead-cooled fast reactor (LFR-AS-200) modular technology. Newcleo will focus on developing the nuclear reactor itself, while Nextchem will provide expertise in designing and managing the conventional island and balance of plant components necessary to convert nuclear energy into dispatchable electric power. Nextcleo will also offer integration services to other small modular reactor (SMR) and advanced modular reactor (AMR) technology providers. This collaboration aims to support decarbonization efforts, particularly by enabling low-carbon chemical production aligned with Nextchem’s e-Factory model. Nextchem will hold a 60% stake in Nextcleo, retaining operational control, while Newcleo will own 40%. Additionally, Nextchem will acquire an initial minority stake in Newcleo, increasing upon development milestones. The partnership plans to have a non-nuclear precursor prototype ready by 2026