French Nuclear Startups Raise $210 Million to Finish Designs

French nuclear startups Jimmy Energy SAS and Calogena are raising €80 million ($93 million) and about €100 million, respectively, to complete the design of their small modular reactors.

The French government is providing half of Jimmy Energy’s new funding, while Credit Mutuel Alliance Federale is leading private sector financing while some existing shareholders also participated, the Paris-based firm said in a statement Tuesday. Calogena obtained fresh government funding of €48 million, and will proceed to a capital increase, its main owner Gorgé SA said in a separate statement.