A start-up company has secured €25m of funding to support the accelerated development of its modular Sodium-Cooled Fast Reactor (SFR).
Hexana, which was spun-off from the French Atomic Energy & Alternative Energies Commission (AEC), is developing its fourth generation of the reactor in an effort to contribute to Europe’s decarbonisation efforts.
The funding consists of a €15m equity round, and a €10m grant from Bpifrance Financement, awarded under the France 2030 initiative for innovative nuclear reactor projects.
With support from investors such as Blast. Club, Eren Industries, CEA Investissement and Région Sud Investissement, as well as the strategic guidance of Avolta and Villechenon teams, it’s expected this financing will enable Hexana to achieve critical milestones in the project.
These include completing the conceptual design phase, submitting the safety options file to the French Nuclear Safety and Radiation Protection Authority (ASNR), and progressing to the basic design phase. The funding also plays a pivotal role in securing Hexana’s first industrial customers and strategic sites across Europe.
Sylvain Nizou, chief executive of Hexana, said: “This financing underscores the credibility and relevance of our low-carbon technology as a replacement for fossil fuels. It provides us with the appropriate resources to complete the preliminary design phase, move forward with our European commercial development, and secure our first industrial sites.
“We are now well-positioned to accelerate growth in delivering a transformative energy decarbonisation solution that is already in high demand among our customers. At the same time, we are catalysing the revival of a strategic sector, the fast-breeder reactor industry. Hexana offers a tangible and reliable response to the critical energy and industrial sovereignty challenges that France and Europe face.”
The SFR technology, which Hexana says has been successfully demonstrated in the Phénix, Superphénix, and ASTRIDii projects, is reintroduced in the company’s innovative energy platform. The system integrates a cutting-edge reactor composed of two 400 MWth power modules and an advanced energy storage solution.
Hexana aims to revolutionise the energy sector for heavy industry and sustainable fuel production, including hydrogen, synthetic fuels, and e-SAF. Its solution delivers high-temperature heat alongside decarbonised, flexible, controllable, and cost-competitive electricity.
The company’s energy platform is equipped with an integrated thermal storage system, Hexana says, which it claims offers “unparalleled flexibility” in the production of heat and electricity, seamlessly adapting to the evolving demands of power grids and data centres.
David Corchia, co-founder of Eren Industries, said: “We are thrilled to support Hexana’s financing round. Our participation reflects Eren’s commitment to backing start-ups that are advancing next-generation nuclear technologies with the highest potential.
“This investment is part of our long- term strategy, with the ultimate goal of developing power plant projects in France and globally that use Hexana’s technology. This approach aligns with our 20-year track record of deploying renewable energy projects across five continents.”
Anthony Bourbon, founder and chief executive of Blast. Club, said: “Hexana represents the future of industry-bound energy. By developing nuclear technology that provides greater modularity and flexibility than the large reactors in today’s fleets and addressing far more specific use cases, they are tackling one of the most pressing challenges of today’s industrial production.”
Pierre Joubert, chief executive of Région Sud Investissement, added: “This investment aligns with our commitment to supporting innovative and sustainable projects, particularly in the energy sector, to drive the energy transition and the decarbonization of strategic industries.
“By investing in Hexana, we are reaffirming our dedication to cutting-edge technologies that enable decarbonized, flexible, and competitive energy production to address the energy challenges of the future.
“France is placing a strong bet on the growth of its nuclear industry, leveraging its extensive expertise and assets in this forward-looking sector.”
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