London based nuclear company Newcleo plans to raise 900 million pounds ($1.10 billion) to advance a plan to build a fleet of small nuclear reactors in the UK, the Times reported.
Last week, the British start-up signed an agreement with Italy's biggest utility Enel to work together on projects for providing safe and stable power.
Newcleo plans to design and construct the first-of-a-kind mini lead fast reactor to be deployed in France by 2030.
Last year, Newcleo raised $315.6 million and was in talks with French company Orano about moving into the French market.
Newcleo did not respond to Reuters' request for comment. -Reuters