Curio, a Washington DC-based tech development company dedicated to advancing a closed fuel cycle, proudly announces the successful closure of its seed round with a total haul of $14 million. This achievement signifies a significant step forward in the company’s mission to establish clean nuclear power as a catalyst for global prosperity and sustainability.
WASHINGTON, April 18, 2024 /PRNewswire/ — Curio Legacy Ventures, Inc., a Washington DC-based company dedicated to advancing a closed fuel cycle through innovative technologies like NuCycle®, a revolutionary nuclear waste recycling technology, proudly announces the successful closure of its seed round with a total haul of $14 million. This achievement signifies a significant step forward in the company’s mission to establish clean nuclear power as a catalyst for global prosperity and sustainability.
In this pioneering partnership, Curio secured $7.5 million in private sector funding, led by Synergos Holdings, a venture studio focused on the conceptualization, development, and advancement of transformative deep technologies. Edward McGinnis, President, and CEO of Curio, expressed his enthusiasm, 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. We are clearly on the brink of a new nuclear era. Our commitment to developing pivotal and transformational nuclear technologies for a closed and sustainable nuclear cycle underscores our belief in seizing the future of energy. Clean nuclear power serves as the cornerstone of our mission, envisioning a world where the United States leads as the leading nuclear energy exporter and supplier of nuclear fuel, energy, and next-generation radioisotopes and nuclides.”
The public sector played a crucial role in driving Curio’s seed round success by awarding four pivotal grants from the Department of Energy (DOE). These grants included a prestigious ARPA-E award as part of the Converting UNF Radioisotopes Into Energy (CURIE) program, along with two awards from the Office of Nuclear Energy Gateway for Accelerated Innovation in Nuclear (GAIN) program. Furthermore, Curio secured a feasibility study award through the newly established Partnership Intermediary Agreement (PIA) with ENERGYWERX, an innovative DOE initiative aimed at accelerating partnership formation to bolster the expansion of clean energy solutions. The federal contribution for these awards totaled $5.8 million, representing 80% of the $7.25 million total awards, while Curio remains committed to providing the remaining 20% in accordance with federal DOE cost-share requirements.
In a strategic move, Curio also forged partnerships via four Cooperative Research and Development Agreements (CRADAs) with esteemed national laboratories, including Idaho National Lab (INL), Oak Ridge National Lab (ORNL), Pacific North National Lab (PNNL), and Sandia, alongside other key industry stakeholders, including utilities and local communities. This collaborative approach marks an unprecedented development strategy for the commercialization of nuclear waste recycling technology in the United States, signaling Curio’s commitment to expanding these partnerships as it progresses with the development and demonstration of its transformative technologies.
The round garnered significant interest from strategic investors within the nuclear sector, as well as long-term impact investors, further validating Curio’s innovative approach to nuclear technology development and deployment. The Moskowitz brothers, founders and managing partners of Synergos, shared their perspective on the partnership, remarking, “Our journey in deep-tech innovation underscores our commitment to a future where innovation and prosperity intersect. By investing in groundbreaking ideas like Curio, we’re driving toward a future where all of humanity can thrive. Our development of Curio from concept to reality exemplifies our team’s dedication to an innovative framework that ensures sustained success for all stakeholders.”
Curio’s vision of a closed fuel cycle, powered by revolutionary technologies like NuCycle®, stands at the forefront of transforming the energy landscape. By addressing environmental, security, and market concerns, Curio paves the way for a sustainable and prosperous future. Looking ahead, Curio plans to leverage the success of its seed round to bridge towards further development, expanding its portfolio of technology advancements. With the series A funding round scheduled to coincide with the completion of lab-scale demonstration activities by the end of 2025, Curio is poised to accelerate its mission and drive innovation in the nuclear energy sector.
About ARPA-E:
ARPA-E advances high-potential, high-impact clean energy technologies across a wide range of technical areas that are strategic to America’s energy security. Learn more about these efforts and ARPA-E’s commitment to ensuring the United States continues to lead the world in developing and deploying advanced clean energy technologies.
About Curio Legacy Ventures:
Curio Legacy Ventures, Inc., headquartered in Washington DC, is committed to advancing a closed fuel cycle through pioneering technologies such as NuCycle®, a patented process for nuclear fuel recycling. By addressing environmental, security, and market concerns, Curio aims to establish clean nuclear power as a catalyst for global prosperity and sustainability. With a vision of the United States as an energy exporter and a supplier of nuclear fuel, energy, and next-generation radioisotopes and nuclides, Curio is leading the charge towards a cleaner and brighter future.
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http://curio.energy
About Curio Solutions
“CLOSE THE CYCLE®” A NOVEL APPROACH TO NUCLEAR TECHNOLOGY DEVELOPMENT
Having dedicated ourselves to the development of key nuclear technologies that produce a closed nuclear cycle, we believe the second nuclear era is the future we’ve all been waiting for. With clean nuclear power at the foundation of our credo, CURIO® envisions a world where the United States is an energy exporter and a supplier of nuclear fuel, energy and next-generation radioisotopes and nuclides.
SOURCE Curio Solutions
