Deeptech startup Thorizon, which focuses on pioneering molten salt reactor technology, has successfully raised €20 million in funding to advance its initiatives. Originally established as a spin-off from NRG, Thorizon aims to leverage small modular nuclear reactors to complement an energy system increasingly dependent on renewable sources such as wind and solar power.
Central to Thorizon’s efforts is the development of Thorizon One, a “walk-away safe” molten salt reactor designed to utilise long-lived nuclear waste as fuel. This approach represents a significant step towards a more circular nuclear economy, as the reactor is engineered to provide carbon-free energy while repurposing existing nuclear waste. Thorizon’s innovative cartridge-based fuel system offers a scalable solution to enhance the sustainability of nuclear energy.
The company has established partnerships with prominent industry stakeholders, including Orano, Tractebel, VDL, and EDF. Thorizon’s project has also garnered recognition from the European Commission and the French government, as it has been selected under the France 2030 investment plan, which supports initiatives aimed at enhancing the country’s energy infrastructure.
The Thorizon team.
The recent funding round consists of €16 million as the first tranche of Thorizon’s Series A financing, spearheaded by Invest-NL, with support from an InvestEU guarantee provided by the European Commission specifically focused on research initiatives. Other notable investors include Positron Ventures, PDENH, and Impuls Zeeland. This investment round has increased Thorizon’s aggregate funding to €42.5 million, with all existing shareholders reaffirming their commitment to the company.
Kiki Lauwers, the CEO of Thorizon, articulated the company’s vision: “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, highlighted the progress made since their initial investment in 2022. He noted, “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 newly acquired capital will facilitate the prototyping and demonstration of Thorizon One’s revolutionary cartridge fuel system, which is designed to safely and economically generate power by recycling nuclear waste. Furthermore, Thorizon plans to finalise the basic design of the reactor, advance through the necessary licensing processes, and prototype essential components in preparation for the intended start of construction in 2030.
