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‘Selling a dream’: The French nuclear start-up that ran aground
NAAREA’s unravelling provides a cautionary tale for dozens of small reactor developers racing to bring designs to fruition.
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A nuclear power station run by France’s state-owned EDF
PHOTO: BLOOMBERG
Sarah White
In December 2023, the founder of French nuclear start-up NAAREA gathered employees and investors in Paris for a black-tie dinner and dance, at which it revealed a large model of the mini reactor it hoped would revolutionise the world of energy.
The gala capped an ebullient year for the group after it scored €10 million (S$14.9 million) in public subsidies and encapsulated the verve of its chief executive Jean-Luc Alexandre, according to people who know him and a person who attended the party.
