Thorizon raises €20 million for pioneering molten salt reactor, PDENH participates

13 March 2025

Dutch deep-tech startup Thorizon has raised €20 million to further develop its revolutionary small modular reactor (SMR), the Thorizon One. This new funding brings the total capital raised to €42.5 million and marks an important milestone in the scale-up of molten salt reactor technology.

The funding includes a €16 million investment, led by Invest-NL and supported by an InvestEU guarantee from the European Commission, specifically focused on technology development activities. This marks an important milestone in Thorizon's Series A round. Venture capital fund Positron Ventures and the regional development companies PDENH (Noord-Holland) and Impuls Zeeland also participate. With this, all existing shareholders confirm their confidence in Thorizon.

In addition, Thorizon received a €4 million grant from the province of North Brabant, in collaboration with VDL Groep and Demcon. This builds on a previous grant of €10 million in 2024 by the French programme France 2030, which supports innovative reactors.

With this funding, Thorizon is halfway to its goal for the Series A round. The company is now focusing on attracting additional investors willing to contribute to Thorizon's mission. With its innovative small modular reactor (SMR), Thorizon aims not only to strengthen Europe's energy security, but also to build on its leading position in nuclear innovation.

The capital will be used to develop the Thorizon One's advanced cartridge system - a breakthrough technology that safely and cost-effectively generates energy by recycling long-lived nuclear waste. Thorizon is also working on finalising the basic design, starting licensing procedures and developing prototypes of crucial components.

All with one clear goal: to start building Europe's first Thorizon One reactor by 2030.

Kiki Lauwers, CEO Thorizon:

"Thanks to the support of our investors and the relevant governments, we are excellently positioned to develop Thorizon One. There is a huge opportunity to accelerate nuclear innovation in Europe to strengthen our energy security, while reducing carbon emissions and long-lived nuclear waste. In addition to our current shareholders, there is room for new strategic partners and investors to work together to realise Europe's first molten salt reactor."

Thorizon One: from long-lived nuclear waste to emission-free energy.

This funding gives Thorizon a powerful boost in the development of the Thorizon One - a next-generation reactor that overcomes traditional objections to nuclear power. This innovative reactor delivers emission-free energy and reuses long-lived nuclear waste as fuel. Its modular design and advanced cartridge system represent an essential step towards a circular nuclear economy. Thanks to molten salt technology, Thorizon is developing reactors that are intrinsically safe, cost-efficient and faster to build than conventional nuclear power plants - a concrete solution for Europe's energy transition.

About Thorizon:

Thorizon has quickly grown from a spin-off from NRG to an ambitious deep-tech startup with offices in Amsterdam and Lyon. The company sees small modular nuclear reactors as an ideal, stable and clean addition to an energy system in which wind and solar are key sources. Thorizon's ambition is to develop a molten salt reactor that is 'walk-away safe' and takes a first step towards circularity by using long-lived nuclear waste as fuel. The company is currently working on plant design and system prototypes, with the intention of starting construction of the first reactor, the Thorizon One, around 2030. Thorizon is working with industrial leaders such as Orano, Tractebel, VDL Groep and EDF. The project has been selected by the European Commission and by the French government within the France 2030 investment plan.

Want to know more about this news?

Read the full press release at the Thorizon website.

About PDENH:

The Participatiefonds Duurzame Economie Noord-Holland (PDENH) has made a substantial contribution to the transition to a sustainable and circular economy over the past decade. The fund invested over EUR 70 million in innovative and sustainable projects in the region. Since September 2023, it is a closed-end fund and focuses on follow-on investments in existing portfolio companies. PDENH is managed by ROM InWest, KplusV and StartGreen Capital.

Want to know more about PDENH? Then take a look at the fund page or visit the fund website.