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.
For media inquiries, please contact:
Leeaht Guzi
Phone: 771.210.1153
Email: lguzi@curiolegacy.com
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pioneering-nuclear-technology-firm-curio-closes-14-million-seed-round-to-drive-clean-energy-innovation-302121666.html
SOURCE Curio Solutions