Advancing the creation of next-generation nuclear reactors and taking a positive step towards addressing our current energy problems, Amsterdam-based startup Thorizon has raised €12.5 million for its thorium molten salt reactor. The funding will enable the company to further boost its essential tests and research needed to complete the design of the first prototype before 2035.
The round was backed by Positron Ventures, impact investor Invest-NL, one private investor, and Huisman. Public sector investors including two provincial funds PDENH and Impuls Zeeland also supported the funding.
Founded in 2018 by Sander de Groot and Lucas Pool, the clean tech is developing a thorium molten salt reactor. The company claims that its technology can play an important role in the global energy system, especially considering the increase in worldwide energy demand, while at the same time phasing out fossil fuels. A significant portion of the long-lived waste can be converted into short-lived waste and CO2-free energy in Thorizon’s first system, which combines existing long-lived waste with the abundant metal thorium.
Co-founder Lucas Pool said: “What started as a good idea several years ago has developed into a very promising reactor design, we are very happy with the confidence of our investors and partners.”