Antares Nuclear raises $470 million to build SMRs for US military
Antares Nuclear, a startup, just raised $470 million to develop small modular reactors (SMRs) for the US military.
These compact reactors can power up to 750 homes and are designed for easy deployment.
The funding round was led by Paradigm and Caffeinated Capital, with support from Industrious Ventures, and others.
Mark-0 criticality at Idaho National Laboratory
Antares's SMRs will be tested at Air Force bases in Colorado and Montana as part of a Pentagon program.
Their Mark-0 reactor hit a big milestone, achieving criticality at Idaho National Laboratory this June.
The reactors use TRISO fuel, which is safer because it keeps uranium locked inside tough coatings even at high temperatures.
With electricity demand rising, investors are flocking to nuclear startups like Antares; the new funding will help accelerate development and support the military's energy needs by 2028.