newcleo plc (NWCL) shareholders approved the terms of a Prepaid Share Forward Confirmation dated September 11, 2026, among the company, NewHold Investment Corp III and Tech Opportunities LLC. The terms relate to newcleo’s off-market purchase of up to 7,000,000 ordinary shares. The resolution conferred authority that expires five years after approval unless renewed, varied or revoked by the company in general meeting. Of the votes cast, 128,658,930 (99.98%) supported the resolution and 24,336 (0.02%) opposed it; 158,058 votes were withheld.
newcleo plc reported first-half 2026 revenue of €19.4 million, up 46% from €13.3 million, and gross profit of €6.1 million, up 48% from €4.2 million. Net loss increased 10% to €82.0 million from €74.3 million. Net cash flows used in operating activities were €53.7 million, versus €72.2 million a year earlier; cash and cash equivalents were €66.5 million at June 30, 2026.
On September 21, 2026, newcleo completed its business combination and Nasdaq listing, raising gross proceeds of approximately $247 million (approximately €215 million). Preliminary unaudited cash was approximately €233 million at September 30. Management concluded resources were sufficient for at least 12 months from authorization of the interim statements, and the previously identified material uncertainty related to going concern no longer exists.
After June 30, newcleo installed the main vessel and turbine at its 10 MWt non-nuclear PRECURSOR demonstration reactor, scheduled for completion at the end of 2026. France’s nuclear safety authority gave an overall satisfactory evaluation of proposed safety features for the planned MOX fuel facility ahead of a license application. The company was selected for advanced negotiations under the U.S. Department of Energy’s surplus plutonium program, subject to security, safeguards and material-accountability requirements.
newcleo plc (NWCL) announced that William D. Magwood, IV is anticipated to join its board as vice-chairman, effective January 1, 2027.
Magwood has spent the past decade as Director-General of the OECD Nuclear Energy Agency and is to step down from that position at the end of 2026. During his 12 years at the agency, he oversaw cooperation on reactor safety, fuel-cycle policy and next-generation nuclear technology. He was a U.S. Nuclear Regulatory Commission commissioner from 2010 to 2014 and led the U.S. Department of Energy’s Office of Nuclear Energy from 1998 to 2005.