Transmutex raises over CHF 20M in extension of Series A funding

Transmutex SA, a nuclear engineering company based in Geneva, Switzerland, raised over CHF 20M in the extension of its Series A funding to further develop its pivotal solution to a safer, lower-cost, proliferation-resistant nuclear energy technology. The round was led by Union Square Ventures and Steel Atlas with participation from new and existing investors including At One Ventures (USA), HCVC (France/USA) and AlleyCorp (USA), with the participation of House Of Ventures (USA), Presight Capital (USA), Verve Ventures (Switzerland), FONGIT (Switzerland) and Tiny Supercomputer Investment Co. (UK), as well as private investors.
 
Founded on 29 July 2019, Transmutex is reinventing nuclear energy with the design of a safer, non-self-sustaining reaction technology which will open a new era of lower cost and proliferation-resistant carbon-free baseload energy. The technology’s key promises are inherent safety, resistance to proliferation, and the transmutation of long-lived nuclear waste produced by uranium-based nuclear. Cameron Porter, Partner at Steel Atlas (Transmutex’s lead investor), commented: "Nuclear is a necessary part of the solution to our world’s clean energy needs and Transmutex’s technology is a necessary component of making that global deployment a reality. It is rare to find a company that is developing a novel, world-changing technology that after only a few years is already preparing to deliver on commercial interest. We are thrilled to support Transmutex in achieving their mission."
 
Lenz & Staehelin has been advising Transmutex on all legal matters since its incorporation. For the Series A Extension, the Lenz & Staehelin team was led by Federico Trabaldo Togna (Corporate and M&A) and Sevan Antreasyan (IP), and included David di Rosa and Victor Sellier (both Corporate and M&A), Anne-Laure Laplace (IP), Floran Ponce and Kimberly Hundt (both Tax), as well as Sara Rousselle-Ruffieux (Employment).