Curio Legacy Ventures closes $14m seed round for NuCycle technology
Curio Legacy Ventures, Inc., a Washington DC-based leader in advanced nuclear technologies, has successfully closed a $14 million seed funding round. This investment propels the company forward in its mission to redefine the nuclear power landscape through its groundbreaking NuCycle technology for nuclear waste recycling.
Pioneering Partnerships and Public Sector Support:
The funding round comprised $7.5 million from private investors, led by Synergos Holdings, and $6.5 million in public grants, highlighting a robust collaboration between the private sector and government agencies. Edward McGinnis, President and CEO of Curio, expressed his excitement about the developments, stating, “Curio’s transformative technologies and groundbreaking corporate management approach has positioned us to unlock the full potential of the US and global nuclear markets in a way we have not seen before.”
Department of Energy’s Role in Curio’s Milestone:
The Department of Energy (DOE) has been instrumental in Curio’s recent advancements, contributing four significant grants, including an ARPA-E award from the Converting UNF Radioisotopes Into Energy (CURIE) program and two awards from the Office of Nuclear Energy’s Gateway for Accelerated Innovation in Nuclear (GAIN) program. These federal awards, totaling $5.8 million, underscore the government’s commitment to fostering innovative clean energy solutions.
Strategic Collaborations with National Laboratories:
Further bolstering its technological and commercial strategy, Curio has entered into four Cooperative Research and Development Agreements (CRADAs) with top national laboratories such as Idaho National Lab (INL) and Oak Ridge National Lab (ORNL). These partnerships are pivotal to the company’s strategy for commercializing its nuclear waste recycling technology.
Impact on the Nuclear Sector and Future Outlook:
The seed round not only affirms the nuclear sector’s confidence in Curio’s vision but also attracts long-term impact investors focused on sustainable energy innovations. The Moskowitz brothers, founders of Synergos, highlighted their dedication to merging innovation with prosperity, reflecting a shared vision with Curio of advancing clean and sustainable energy solutions.
Looking ahead, Curio plans to use the momentum from this seed round to advance towards a Series A funding round, anticipated after completing lab-scale demonstration activities by the end of 2025. This step is part of Curio’s broader strategy to lead the transition towards a sustainable and secure energy future, powered by its revolutionary NuCycle technology.