France’s Otrera, a spin-off from the Atomic Energy Commission (CEA – Commissariat à l’énergie Atomique et aux énergies Alternatives) has closed its first round of fundraising, with €2.5m ($2.64m) from industrial and financial investors. The raise was supported by Exergon, Invest For The Future (IFTF), CEA Investment, REAL International, ADF Group, EKIUM-SNEF Group, Capitole Axis, NGE and Fortil Group.
Otrera Founder & President Frederic Varaine noted: “We are proud to have managed to convince a pool of industrialists that also prefigures our supply chain. This ambition is in our DNA: to bring together partners who are active in the project to build together innovative and sustainable solutions for the future of nuclear.”
This first round of funding marks a major milestone for Otrera, enabling it to accelerate development of its sodium-cooled fast neutron reactor design. Otrero says it is now planning a second round of fundraising in 2025 to support the next steps of this project.
Otrera says it is developing a sodium fast reactor (SFR) that incorporates technological advances. These include recycling of used fuel assemblies, extended operating autonomy, enhanced safety and economic performance. The reactor has been designed to lower construction and’ operating costs with an output of 110 MWe or 185 MWt.
The design also incorporates essential safety and security criteria. Reinforced containment barriers, passive cooling systems and intrinsic safety features are integrated to minimise the risk of nuclear accidents and to ensure maximum protection of the environment and the population at the same time.
Otrera says the technology is the result of 50 years of research and development in France, recently reinforced by the work of the Astrid project. However, France has a history of failed fast reactor projects. Astrid, which was cancelled by CEA in 2019, was to be the successor to France’s three experimental fast reactors – Rapsodie, Phénix, and Superphénix – all of which have been decommissioned. The 40MWt Rapsodie operated from 1967 until 1983, when it was shut down permanently. The 233 MWe (590 MWt) Phénix was a prototype fast breeder that operated from 1973 to 2009.
The 1,242 MWe Superphénix was intended to reprocess nuclear fuel from conventional nuclear reactors, while also generating its own power. Construction began in 1974 but cost overruns, delays and public protests delayed grid connection until 1986. It was powered down in 1996 for maintenance, and while closed faced court challenges that prevented its restart, and it was closed permanently.
Currently only two industrial-grade fast reactors are in operation – the BN-600 and BN-800 at Russia’s Beloyarsk NPP. A few other countries, including China and India, have operational experimental installations with fast-breeder reactors.
