There is an Italian scientist, an entrepreneur lent to physics, who is making a ambitious project: to create new lead nuclear reactors, who burn a fuel called Mox based on radioactive waste such as plutonium, to produce clean and safe energy. It is doing this by bringing together 70 years of studies, experiences, knowledge, scientists and funds. Stefano Buono, 56, worked for many years at CERN in Geneva with the Nobel Prize in Physics: Carlo Rubbia. In September 2021 it has founded the Newcleoa startup that capitalizes on a project that started right in those laboratories and which has already raised 400 million euros.
“In 1994 I started working with Rubbia on a system to produce nuclear energy safely. Our project was to create a reactor that could not become critical or have nuclear accidents. It was a kind of energy amplifier: it was carried to the necessary power with a particle beam and when the beam was turned off, the engine was turned off “. Thanks to this research, the two scientists discover lead as a coolant that produces less radioactive waste. 24 years after these researches, Buono concretizes the idea and begins to realize his dream.
“Today we aim to build 4th generation nuclear reactors, small, which absorb waste and waste from traditional power plants as a new type of fuel. Moreover, thanks to this process there is no longer the need to dig mines to extract uranium from the soil and therefore no longer do the mines. Furthermore, by eliminating the chemical risk, these they are the safest reactors that can be designed“.
Newcleo is headquartered in London, a research and development center in Turin and a branch in France. After 27 years abroad, Buono is back under the Mole. In two rounds it raised 400 million euros from Exor Seeds, Azimut, Kairos Venture ESG One, Club degli Investitori and LIFTT (“but 3 billion will be needed”), has 130 people spread over three countries (“we will reach 500 in the next year” ) and a precise roadmap.
“We will build three prototypes. The first reactor will be ready in 4 years and we are building it in the Enea center in Brasimone (Bo): it is not a nuclear reactor, but will only serve to test the components, the corrosion, the control systems. We are also looking for an area in both France and England, to build 2 nuclear reactors within 7 years and 2 fuel factories capable of burning radioactive waste. In France and England there is a large accumulation of plutonium which we use as fuel “.
29-30 September
Italian Tech Week 2022, the future not to be missed: online registration is open to participate
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Moved by the vision of wanting to have an impact on the world, Buono has never been stuck in front of ambitious projects. “I have a conviction: if a project can be scientifically realized, no matter how big it is, it must be done. I have never been scared by the financial commitment or by the time necessary for its realization.” At one point the project with Rubbia runs aground due to lack of funds, Buono frees his entrepreneurial spirit and decides to deal with nuclear medicine. “At CERN we had a patent for an application in nuclear medicine. So I went to Rubbia’s office and I said to him:” Carlo, what do you think if I quit my job and do a startup to develop this patent? “. He looked at me. , he went to the computer, he wrote me the letter of dismissal himself. Then he printed it, I signed it and my new adventure started “.
In 2002 he founded AAA, Advanced Accelerator Applications, a nuclear medicine company in France which develops, manufactures and markets diagnostic and therapeutic products for molecular nuclear medicine. It makes 30 capital increases. In 2015 the stake on Nasdaq and in 2018 he sold it to the pharmaceutical giant Novartis. An operation that brought him the definition of Mister 4 billion dollars. “In reality we were very many shareholders, we distributed the figure among 630 shareholders and I only had 5%”.
A nuclear doctor wife, 4 daughters, two small and two already in Australia to study respectively environmental science and marine biology, has always pursued the desire to have an impact on the planet and to do it in an entrepreneurial way. “It’s great to do something with an impact.” It is also good LIFTT president, vehicle of investment in innovation, which after the National Innovation Fund, CDP was the Italian vehicle that made the most investments last year. “Have the courage to innovate also on schemes and on how to finance your business“. He is chairman of Planet Smart City, a company with 1700 employees, which builds smart cities for social housing. Finally he has an Elysia Capital family office.
Before founding Newcleo, Buono in 2020 takes a sabbatical to pursue his great passion of all time: the boat. With her catamaran Elssa she goes as far as French Polynesia, she travels halfway around the world. “It has been a wonderful year, which is linked to the company for two reasons. I had designed it to relax before entering the chaos of this new venture. Then in the Pacific Ocean, near the Galapagos, I raised the first 100 million euros. that I needed to leave “.
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The production of nuclear energy in Italy stopped in 1987, following the referendum launched after the accident at the Chernobyl power plant in Ukraine.
“When nuclear was born there was the same enthusiasm as today. But with the nuclear bomb it immediately had a negative connotation. Then there were two accidents, one in the US in 1976 and one in Chernobyl in Ukraine, in 1986. The first incident in the United States in which there were no deaths occurred two weeks after the release of a disaster film called Chinese Syndrome. He told of an elusive accident involving a nuclear power plant and of this nucleus that would have crossed the whole earth. A huge negative impact. Then there was Chernobyl “.
Now the time for a nuclear rediscovery seems to be the right one. Buono has over 600 members in Newcleo. Someone represents a few hundred. It is a very distributed company. He has 10%. “When you can align people’s interests on a common vision, you have to have confidence. Redesigning nuclear power in a sustainable way is possible. The nuclear revolution is ready. And humanity must take this step.”
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