Canadian-German Nuclear Startup Dual Fluid Successfully Raises 1st Round of Seed Funding

The German-Canadian nuclear startup Dual Fluid has completed its first investment round with fully subscribed as per its plans.

The private investors of January 2021 founded company raised almost seven million Canadian dollars.

Speaking on the fund raising, Armin Huke, President and CTO of Dual Fluid, said “we are pleased with the purely private financing of our company. This is a vote of confidence from the capital market that exceeds our expectations.”

With the funds raised, the nuclear startup plans to increase its staff and build its own premises in order to propel the development of the novel dual fluid reactor to series production maturity.

This includes building up laboratory capacity as well as collaborating with renowned research institutes to develop an initial safety analysis in accordance with international regulatory standards.

In this context, very rarely occurring operating conditions has been investigated in detail using mathematical models. The findings will be used for the upcoming licensing procedure.

“Our physical simulation calculations have already shown that the dual fluid reactor is feasible and inherently safe. Now we focus on preparing the licensing process and starting the practical work,” said Götz Ruprecht, CEO of Dual Fluid.

Part of the overall concept is a nuclear recycling plant that can efficiently separate so-called nuclear waste by type. In combination with the dual fluid reactor, this will make a geological repository obsolete. With the existing nuclear waste alone, Dual Fluid could fully supply several industrialised countries with electricity for hundreds of years.

Meanwhile, the company is planning for the next investment round in one and a half to two years’ time and will also address institutional investors.