Aix-en-Provence, Wednesday, December 4, 2024.
Otrera, a spin-off of the French Alternative Energies and Atomic Energy Commission (CEA) and winner of the France 2030 program, is pleased to announce the close of its first fundraising round, which secured 2.5 million euros from industrial and financial investors committed to energy transition and nuclear innovation. This fundraising was made possible thanks to the support of leading partners: Exergon (Audacia‘s decarbonization fund), Invest For The Future (IFTF), CEA Investissement, RÉEL International, Groupe ADF, EKIUM-Groupe SNEF, AXE CAPITOLE, NGE and FORTIL GROUP.
This alliance of investors, firmly established in the energy and industrial sectors, aims to effectively address the challenges of energy transition and the development of rapidly available and accessible next-generation nuclear power.
Frédéric Varaine, founder and President of Otrera, emphasizes the importance of this commitment and strategic partnership approach:
“We are proud to have successfully convinced a pool of industrial partners that also foreshadows our supply chain. This ambition is in our DNA: to bring together partners who are active participants in the project to jointly build innovative and sustainable solutions for the future of nuclear power. Ultimately, the goal is also to meet energy sovereignty requirements and the need for industrial decarbonization.”
This first funding round therefore marks a major milestone for Otrera, which can thus accelerate the development of its sodium-cooled fast reactor (Sodium Fast Reactor or SFR). This technology is the result of fifty years of research and development in France, recently reinforced by the work of the Astrid project. Indeed, the reactor Otrera and its innovative and modular architecture represent a unique advancement for the French and European nuclear industry.
The outlook for 2025 is now promising with a second fundraising round aimed at supporting the next stages of this innovative project, thus strengthening Otrera’s position as a major player in nuclear innovation serving the low-carbon transition.
About Otrera
Otrera is an innovative French company specializing in the development of next-generation nuclear reactors. Founded by experts from nuclear research and industrial engineering, Otrera designs modular and flexible solutions capable of producing low-carbon energy that meets the needs of industries and regions. Rooted in a vision of sustainability and energy sovereignty, the company relies on advanced technologies to optimize the recycling of fissile materials and reduce environmental impact. Through strategic collaborations with industrial and institutional players, Otrera aims to transform the energy landscape by placing nuclear power at the heart of the energy transition and economic competitiveness challenges. It is led by Frédéric Varaine, President, and Grégory Cherbuis, Deputy CEO, currently employs over twenty people, and is based in Aix-en-Provence.
