NuBattNuBatt PPM

Phase 2 Expansion Roadmap

Long-term vision for scaling NuBatt globally (2030-2040)

Phase 2 Expansion Roadmap (2030-2040)

This section outlines NuBatt's long-term vision for scaling the business globally following successful execution of Phase 1 (2026-2031). The Phase 2 expansion contemplates a €5,000 million investment to transform NuBatt from a market leader into the dominant global force in nuclear batteries, isotope production, and advanced energy systems.


Executive Overview

The Two-Phase Growth Strategy

PhasePeriodInvestmentObjective
Phase 12026-2031$119MTechnology commercialisation, market entry, revenue scale to $2.8B
Phase 22030-2040€5,000MGlobal dominance, full vertical integration, strategic product expansion

Phase 2 Vision

By 2040, NuBatt aims to be the world's leading provider of long-duration nuclear power systems, with:

  • Global manufacturing presence across three continents
  • Complete vertical integration from isotope production to finished batteries
  • Dominant market share in defence, aerospace, medical, and industrial segments
  • Operational molten salt reactor technology providing baseload clean energy
  • Annual revenues exceeding €20 billion

Phase 1 Success Criteria

Milestones Triggering Phase 2

Phase 2 expansion is contingent upon achieving the following Phase 1 milestones:


Phase 2 Investment Overview

Investment Parameters

ParameterDetails
Investment Amount€5,000,000,000 (approximately $5.4 billion USD)
Timing2030-2032 (phased deployment)
Investment Horizon8-10 years to full returns realisation
Target UseGlobal expansion, strategic products, vertical integration

Indicative Valuation Framework

The following valuation framework is illustrative and will depend on actual Phase 1 performance, market conditions, and negotiated terms.

Scenario2030 RevenueImplied Valuation€5B Investment Equity
Base Case$2.0B€15-20B25-33%
Target Case$2.8B€20-28B18-25%
Upside Case$3.5B€28-35B14-18%

Investment Structure Options

Growth Equity Round

  • Traditional Series C/D growth equity from institutional investors
  • Multiple investors sharing the €5B allocation
  • Standard governance and board representation
  • Aligned incentives for IPO exit

Use of €5 Billion Proceeds

Allocation Overview

CategoryAllocationAmountPurpose
Global Manufacturing35%€1,750MFacilities in EU, Americas, and expanded Asia-Pacific
NuThor Reactor Development20%€1,000MMolten salt reactor commercialisation
Vertical Integration15%€750MIsotope production, NuCarbon expansion, supply chain
R&D & New Products12%€600MNext-generation technologies and product development
Strategic Acquisitions10%€500MComplementary technologies and market access
Working Capital & Contingency8%€400MOperational scaling and strategic flexibility

Detailed Use of Proceeds


Financial Projections 2030-2040

Revenue Projections

These projections are illustrative and based on successful Phase 1 execution and Phase 2 investment deployment. Actual results may vary significantly.

YearRevenueGrowthEBITDAEBITDA Margin
2030€1.5B€600M40%
2031€2.8B87%€1.2B43%
2032€4.5B61%€2.0B44%
2033€6.5B44%€2.9B45%
2034€8.5B31%€3.8B45%
2035€11.0B29%€5.0B45%
2036€13.5B23%€6.1B45%
2037€16.0B19%€7.2B45%
2038€18.5B16%€8.3B45%
2039€21.0B14%€9.5B45%
2040€24.0B14%€10.8B45%

Revenue Mix Evolution

StreamRevenueShare
Nuclear Batteries€1.1B39%
Medical Isotopes€550M20%
Industrial Isotopes€320M11%
Nuclear Waste Recycling€500M18%
Advanced Carbon Materials€75M3%
Technology Licensing€65M2%
NuThor Reactors
Total€2.8B100%

Geographic Revenue Distribution (2040)

RegionRevenueShareKey Markets
North America€8.5B35%US defence, medical, aerospace
Europe€6.0B25%Defence, industrial, medical
Asia-Pacific€7.0B29%Industrial, electronics, medical
Rest of World€2.5B10%Emerging markets, resource sector

Global Expansion Strategy

Manufacturing Footprint 2040

Singapore (Headquarters)

  • Corporate headquarters
  • Advanced R&D centre
  • High-value manufacturing
  • Asia-Pacific distribution hub

European Hub

  • Full-scale battery manufacturing
  • Isotope processing centre
  • NuCarbon facility
  • EU market operations

North American Operations

  • US defence-focused manufacturing
  • ITAR-compliant production
  • Canadian isotope sourcing
  • Americas market hub

Extended Asia-Pacific

  • Japan/Korea manufacturing
  • Australia resource operations
  • Regional distribution
  • Technology partnerships

Workforce Projection

YearEmployeesDistribution
2031800Primarily Singapore
20353,500Singapore 30%, EU 35%, Americas 25%, Other 10%
20408,000Singapore 20%, EU 35%, Americas 30%, Other 15%

NuThor Reactor: Strategic Growth Engine

The Opportunity

The NuThor thorium molten salt reactor represents NuBatt's entry into the broader clean energy market, leveraging nuclear expertise developed in the battery business to address the growing demand for reliable, carbon-free baseload power.

Market Drivers

DriverOpportunity
DecarbonisationIndustrial facilities seeking carbon-free power
Energy SecurityNations seeking energy independence
Remote PowerMining, research, and isolated communities
Data CentresGrowing demand for reliable 24/7 power
Grid InstabilityBackup and baseload for intermittent renewables

NuThor Specifications

SpecificationValue
Thermal Output5 MW
Electrical Output2.25-2.5 MW
Efficiency45-50%
FuelThorium-U233 (self-sustaining breeder)
Operational Life10-20 years without refuelling
Form FactorContainer-sized, transportable

NuThor Business Model

Revenue StreamModelPotential
Unit Sales€20-50M per reactorCapital equipment revenue
Fuel ServicesLong-term contractsRecurring revenue
MaintenanceService agreementsRecurring revenue
LicensingRegional manufacturing rightsIP monetisation

Deployment Roadmap

2030-2031: Design finalisation and regulatory pre-engagement

2031-2033: Prototype construction and testing

2033-2035: Regulatory certification in lead markets

2035-2037: First commercial deployments

2037-2040: Scale manufacturing and global rollout


Exit and Returns Analysis

IPO Pathway

NuBatt anticipates pursuing an Initial Public Offering as the primary liquidity event for investors, targeting a listing between 2032 and 2035.

ParameterBase CaseTarget CaseUpside Case
IPO Year203520332032
Revenue at IPO€11B€6.5B€4.5B
Revenue Multiple4-5x5-6x6-8x
Implied Market Cap€44-55B€33-39B€27-36B

Return Scenarios

Phase 1 Investors ($119M for 30%)

ScenarioIPO ValuationPhase 1 Stake ValueMultipleIRR
Conservative€30B€5.4B*45x~65%
Base Case€45B€8.1B*68x~75%
Upside€60B€10.8B*91x~85%

*Assumes dilution from Phase 2 investment; actual stake depends on valuation and structure.

Phase 2 Investors (€5B)

ScenarioIPO ValuationExit ValueMultipleIRR
Conservative€30B€7.5B1.5x~12%
Base Case€45B€11.3B2.3x~20%
Upside€60B€15.0B3.0x~28%

Return projections are illustrative and based on assumptions about execution, market conditions, and valuation multiples. Actual returns may vary significantly. Past performance of comparable companies is not indicative of future results.

Alternative Exit Scenarios


Phase 2 Risk Factors

Phase 2 expansion involves significant risks in addition to those identified for Phase 1. Investors should carefully consider these factors.

Execution Risks

RiskDescriptionMitigation
Scale ComplexityManaging global operations across multiple jurisdictionsPhased expansion; experienced leadership hires
Capital DeploymentEfficiently deploying €5B across multiple initiativesMilestone-based funding; rigorous project governance
IntegrationIntegrating acquisitions and new facilitiesDedicated integration teams; cultural alignment focus
TalentRecruiting 7,000+ additional skilled employeesEmployer branding; competitive compensation; training programmes

Market Risks

RiskDescriptionMitigation
CompetitionIncreased competition as market maturesContinued innovation; IP protection; customer relationships
Technology DisruptionAlternative technologies emergingDiversified product portfolio; R&D investment
Market DemandSlower than projected market growthMultiple market exposure; flexible capacity planning

Regulatory Risks

RiskDescriptionMitigation
NuThor LicensingRegulatory delays for reactor technologyEarly engagement; multiple jurisdiction approach
International RegulationsVarying requirements across jurisdictionsLocal regulatory expertise; compliance infrastructure
Export ControlsRestrictions on nuclear technology transferRobust compliance programmes; government relationships

Financial Risks

RiskDescriptionMitigation
ValuationPhase 2 investment at lower than projected valuationStrong Phase 1 execution; multiple investor options
CurrencyMulti-currency operations and investmentsHedging programmes; natural hedges through local operations
ReturnsLower than projected returns for Phase 2 investorsConservative projections; multiple value creation levers

Summary

The Phase 2 Expansion Roadmap outlines NuBatt's vision for becoming the world's leading nuclear energy systems company over the 2030-2040 period.

Key Elements:

ElementDescription
Investment€5,000M to fund global expansion
Geographic ReachManufacturing presence on three continents
Product ExpansionEntry into modular reactor market with NuThor
Revenue Target€24B annual revenue by 2040
Market PositionGlobal leadership in nuclear batteries and isotopes
Exit PathwayIPO targeting €30-60B+ market capitalisation

The Opportunity:

Phase 2 represents the transformation of NuBatt from a successful technology company into a global energy systems leader. The combination of proven battery technology, isotope production capabilities, advanced materials expertise, and entry into the reactor market creates a diversified, vertically integrated enterprise positioned at the centre of the nuclear renaissance.

For investors participating in Phase 1, the Phase 2 vision demonstrates the long-term potential of the platform being built today. For future Phase 2 investors, the opportunity is to participate in scaling a proven business model globally.


[End of Phase 2 Expansion Roadmap]