Antares Raises $470M to Develop Small Nuclear Reactors for U.S. Military
Nuclear power startup Antares has raised $470 million in a Series C funding round led by Paradigm and Caffeinated Capital, with additional participation from several venture firms. The capital will support the development of small modular reactors (SMRs) designed to provide electricity for U.S. military bases. These SMRs use TRISO fuel technology, known for its safety advantages over traditional nuclear fuels. Antares’s demonstration reactor reached criticality in June at Idaho National Laboratory and is one of three finalists in a Pentagon program testing advanced nuclear power on Air Force installations. The company plans to deploy electricity-producing reactors by 2028. This funding round reflects growing investor interest in the nuclear energy sector, driven by rising demand for clean energy from data centers and electrification trends. Despite enthusiasm, commercialization of SMRs faces challenges such as an underdeveloped U.S. supply chain and high costs compared to other power sources like gas turbines.
Topics: Investor Trends Military Applications Nuclear Energy SMR (Small Modular Reactors) Startups