newcleo plc Raises $247 Million in Business Combination

PARIS and NEW YORK, Sept. 21, 2026 /CourierPR/ -- newcleo plc, a pioneer in advanced modular reactor technology and nuclear fuel manufacturing, has completed a business combination with NewHold Investment Corp III, raising $247 million in gross proceeds. The transaction, which was approved by NewHold’s shareholders at an Extraordinary General Meeting on September 17, 2026, will see newcleo’s ordinary shares begin trading on the Nasdaq Global Select Market under the ticker symbol “NWCL” on September 22, 2026.

The transaction provides a strong capital foundation for newcleo, directly contributing approximately $247 million to support the company’s U.S. and European growth and advance its lead-cooled fast reactor and mixed-oxide (MOX) nuclear fuel production towards commercialization. The deal valued newcleo at a pre-money equity value of approximately $2.4 billion. Gross proceeds received by the company were comprised of an oversubscribed $216 million private placement of securities (PIPE) and $31 million from NewHold’s trust account at the time of closing.

Up to an additional $75 million may become available to the company under a previously disclosed forward purchase agreement. Since the Business Combination announcement, newcleo has also raised close to $20 million, bringing total funds raised to over $1 billion to date, inclusive of this transaction.

The newcleo Board of Directors, chaired by Jeffrey Lyash, former President and CEO of the Tennessee Valley Authority and Ontario Power Generation, will be composed of experienced leaders with expertise spanning nuclear technology, capital markets, and public company governance. The board includes Stefano Buono, Founder and CEO of newcleo, and Andrea Ruben Levi, who previously served as Chairman and continues on the board as Chair of the Compensation Committee. Completing the public company board are Anne-Francois de Bourdoncle de Saint Salvy, Manfredi Lefebvre D’Ovidio, Heinz Maeusli, Raffaele Petrone, Elisabeth Rizzotti, and Suzy Taherian.

The transaction is expected to support newcleo’s global growth, including the completion and operation of its 10MWth non-nuclear demonstrator in Italy, advancing regulatory and licensing interactions with U.S. and French nuclear safety regulators, and pursuing commercial opportunities to deploy its reactors and fuel manufacturing facilities in the U.S. and Europe.

With a vertically integrated supply chain and a growing network of strategic partnerships, newcleo is working to turn proven scientific and engineering solutions into deployable nuclear energy assets. The company brings together more than 900 highly skilled employees across Europe and the United States, spanning reactor and fuel design, engineering, and manufacturing.