Nuclear startup Clean Core raises $15.5 million for thorium fuel from Sumant Sinha, Deepak Parekh, others
Clean Core Thorium Energy, a US nuclear fuel startup, raised $15.5 million in funding over two rounds, with the latest closing in December 2024. The funds support commercialization of its ANEEL fuel for use in India's reactors, in partnership with NTPC Ltd and L&T, pending regulatory approvals.
In the latest round of fund raising, the company accumulated $10 million.
It had raised about $5.5 million in 2022, which was led by Narayanan.
The Oak Brook-headquartered company plans to go for another round of fund-raising in the ongoing calendar year, Shah said, without giving details of the amount to be raised.
Shah, a non-resident Indian, founded Clean Core in 2017, after spending three decades in manufacturing business in emerging markets.
Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd. View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program The capital raised is being used to fund the commercialization of the company's Advanced Nuclear Energy for Enriched Life (ANEEL) fuel, blend of thorium & High Assay Low-Enriched Uranium, which can be used in India's locally made reactors, Shah said.
Shah did not disclose the share of individual contributions.
With plans to commercialise its fuel in 2026, the capital is funding the company's technical partnerships such as with irradiation test and qualification at Idaho National Labs.
The company plans to work with state-run NTPC Ltd and L&T to deploy the technology in India.
However, the move will need regulatory approvals from the US and Indian governments.
It entered a strategic partnership with NTPC in December to explore the development and deployment of the fuel.
It also signed a memorandum of understanding in October with engineering major L&T to provide efficient solutions in clean energy globally.
