Thorizon Raises €12.5M in Funding

Thorizon, an Amsterdam, The Netherlands-based developer of nuclear power plants, raised €12.5m in funding.

The round was led by Positron Ventures and Impuls Zeeland, with participation from Invest-NL, Huisman, and PDENH.

The company intends to use the funds for the development of a new generation of nuclear power plants, to perform essential tests and research and to complete the design of a first prototype.

Led by Founder Lucas Pool, Thorizon is advancing a molten salt reactor which will use long-lived waste in combination with the abundant metal Thorium as fuel. This can make the reactor capable of making an important contribution to virtually inexhaustible and CO2-free energy supply.

For the development of this technology, Thorizon will collaborate closely with several parties, such as the French company Orano, world leader in the recycling of nuclear materials, and NRG, the Dutch producer of medical isotopes and operator of nuclear research infrastructure. Together with EPZ, operator of the nuclear power plant in Borssele, Thorizon investigates the possibility of realising a first system on their site. A broader consortium of research institutions such as TU Delft and DIFFER, component suppliers, and industrial service providers is involved to support this development.

The aim is to realise a first reactor system before 2035.

Thorizon is a spin-off from the Nuclear Research and consultancy Group (NRG), the organisation which operates the High Flux Reactor in Petten.