Antares raises $470M to build nuclear reactors for the U.S. military
Nuclear power startup Antares said Monday that it has raised $470 million to build small reactors for U.S. military bases.
The Series C round, which was led by Paradigm and Caffeinated Capital with participation from Industrious Ventures, Point72 Ventures, and Shine Capital, underscores investors’ growing interest in advanced nuclear startups — a trend fueled by an AI data center building boom and demand for new sources of power. The Series C round included $370 million in equity and $100 million in debt.
Antares has been developing a small modular reactor (SMR) capable of producing between 100 kilowatts and 1 megawatt of electricity, enough to power up to 750 homes.
Like many other advanced nuclear startups, Antares’s reactor uses TRISO fuel, which encapsulates uranium in carbon and ceramic shells. TRISO has been touted for years as a safer alternative to traditional nuclear fuel. The billiard ball-sized spheres of TRISO fuel can...
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