US gives $900 million boost to Peter Thiel-backed General Matter
General Matter, a San Francisco startup backed by Peter Thiel's Founders Fund, just landed $900 million from the US Department of Energy.
This huge grant is part of a push to produce more uranium at home and comes right after their $50 million funding round in 2025, which brought Thiel onto their board.
What's their game plan?
Founded in 2025 by ex-SpaceX engineer Scott Nolan, General Matter enriches uranium for advanced nuclear reactors—helping the US rely less on foreign sources.
The DOE funding will roll out over 10 years as they scale up.
Big plans for Kentucky
General Matter is building a $1.5 billion plant on a 100-acre site in Paducah, Kentucky.
With access to 7,600 UF6 cylinders, the facility aims to create 140 jobs and pump $71 million into the local economy each year—all while saving the country around $500 million annually on imports.
Construction kicks off in 2026 and operations are expected by the end of the decade.