Newcleo, which was founded by Italian physicist and alumnus of the European Organization for Nuclear Research (CERN) Stefano Buono, is developing fourth-generation small modular reactors to produce nuclear energy.
"Small or advanced modular reactors have the potential not only to serve electricity production, but also to have industrial applications," Newcleo Chairman and CEO Buono said in a statement.
The agreement will enable the production of electrolytic hydrogen and sustainable chemicals, including carbon-neutral ammonia, methanol, e-fuels and derivatives, the two companies said.
In addition Tecnimont will provide high-level consultancy services for Newcleo to develop power plants based on the start-up's small modular lead-cooled fast reactor powered with reprocessed nuclear waste.
Milan-based Maire Tecnimont is present in 45 countries and focuses on building plants for the petrochemicals, refining and fertilizer industries.
