Curio Legacy Ventures, a Washington, DC-based tech development company dedicated to advancing a closed fuel cycle, raised $14M in Seed funding.
Backers included Synergos Holdings. The public sector drove Curio’s seed round by awarding four pivotal grants from the Department of Energy (DOE). These grants included an 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 $5.8m, representing 80% of the $7.25m total awards, while the company remains committed to providing the remaining 20% in accordance with federal DOE cost-share requirements.
The company intends to use the funds to expand operations and development efforts.
Led by Edward McGinnis, President, and CEO, Curio Legacy Ventures is committed to advancing a closed fuel cycle providing technologies such as NuCycle®, a patented process for nuclear fuel recycling. By addressing environmental, security, and market concerns, the company aims to establish clean nuclear power as a catalyst for global prosperity and sustainability.
The company 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.
Commenting on the news, Edward McGinnis said: “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.”
FinSMEs
22/04/2024