In its bid to develop an inherently safe molten salt reactor, Amsterdam-based Thorizon has raised a €20M ($21.7M) batch of funding.
The round of funding—part of the company’s Series A—was led by the Dutch National Promotional Institution, and included participation from Positron Ventures, PDENH, and Impuls Zeeland.
- The round brings the company’s total fundraising since its founding in 2018 to €42.5M ($46.2M).
- According to Thorizon, all of the company’s existing investors re-upped their commitment this time around.
In the round announcement, Thorizon signaled that it’s open for business—and by business, we mean new strategic partnerships that could help bring its reactor concept to market. “Our mission is to drive nuclear innovation in Europe—enhancing energy security while reducing carbon emissions and burning long-lived nuclear waste,” CEO Kiki Lauwers said in a statement. “We welcome new strategic partners to join us in making Europe’s first molten salt reactor a reality.”
It’s meeeelted: Thorizon’s design for a molten salt reactor is based on A) inherent safety, like other MSRs, and B) fuel recycling. The reactor uses a proprietary cartridge fuel design that gives new life to long-lived nuclear waste.
The company employs 50 engineers between its sites in Amsterdam and Lyon, France.
What’s next? This funding round is going toward basic design progress for Thorizon One. The company still needs to work out the system details and prototype certain components. Construction of the reactor itself is expected to begin by 2030.
The fundraising isn’t over yet (but is it ever in this industry?). The company reports that it’s halfway to its Series A target.
Lead Reporter of Ignition
