Thorizon raises €20M for modular nuclear reactors that advance a circular nuclear economy

Deeptech startup Thorizon, a pioneer in molten salt reactor technology, has secured €20 million in funding. 

Thorizon, originally a spin-off from NRG, sees small modular nuclear reactors as an ideal, stable, and clean complement to an energy system increasingly reliant on wind and solar power.

The company is developing a "walk-away safe" molten salt reactor, Thorizon One, that uses long-lived nuclear waste as fuel, taking a step toward circularity. 

The Thorizon One is engineered to deliver carbon-free energy while repurposing long-lived nuclear waste as fuel. Its modular design and innovative cartridge-based fuel system provide a scalable pathway to a circular nuclear economy.

Thorizon collaborates with industry leaders such as Orano, Tractebel, VDL, and EDF, and its project has been selected by the European Commission and the French government under the France 2030 investment plan. 

The funding includes €16 million as the first tranche of its Series A round, led by Invest-NL, backed by an InvestEU guarantee from the European Commission for the research part, with strong backing from Positron Ventures, PDENH, and Impuls Zeeland.

All of Thorizon’s existing shareholders have reinforced their commitment in this investment round, bringing its investment to  €42.5 million.

According to Kiki Lauwers, CEO of Thorizon:

"Our mission is to drive nuclear innovation in Europe — enhancing energy security while reducing carbon emissions and burning long-lived nuclear waste. 

We welcome new strategic partners to join us in making Europe’s first molten salt reactor a reality."

Reda Atibi, Senior Investment Manager at Invest-NL, shared:

"Since our initial investment in 2022, the team has grown, strengthened its expertise, and made significant technological strides.

Collaboration with Dutch and French regulators has intensified, and key partnerships have been formed to accelerate development."

The capital will drive the prototyping and demonstration of Thorizon One’s groundbreaking "cartridge" fuel system, designed to safely and cost-effectively generate power by recycling nuclear waste.

Additionally, Thorizon will finalise the reactor’s basic design, advance licensing, and prototype key components as it progresses toward starting construction in 2030.

Lead image: Thorizon. Photo: Jarien Geels.