The Bill Gates-backed SMR company just got a fresh flush of cash. TerraPower announced that it closed a massive $650M funding round on June 18. “As AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities,” Mohamed Siddeek, corporate VP and head of NVentures, […]
The US has a nuclear fuel problem. It’s just not very good at producing it. There are few to no domestic options for uranium conversion and enrichment, and the development of advanced fuels for new reactors is limited to small batches and upstart operations. Standard Nuclear aims to fix the production deficit. This week, the […]
A major fusion funding round just hit Europe. Proxima Fusion has been working on developing a stellarator, a type of magnetic confinement fusion machine, for the last two years since it spun off from the Max Planck Institute for Plasma Physics (IPP). Now, Proxima has raised a €130M ($151M) Series A round of funding to […]
Radiant, a nuclear firm founded by a SpaceX alum on a mission to replace diesel reactors with easily manufacturable and shippable nuclear microreactors, has closed a $165M round of funding to support its mission. The Series C was led by DCVC. It also included participation from StepStone, Giant Ventures, Hanwha Asset Management Venture Fund, SGA, […]
In its mission to build a magnetic mirror fusion machine, Realta Fusion has secured an additional $36M in funding. The Series A round was led by Future Ventures. It also included participation from Avila VC, GSBackers, Khosla Ventures, Mayfield, SiteGround, TitletownTech, and the Wisconsin Alumni Research Foundation. The testing phase: The company has been running […]
You wouldn’t just buy an engine. You want the whole damn car. That’s the driving philosophy behind Applied Atomics, a startup building not just the SMR but also the complete power plant surrounding it, along with plans to sell energy—not reactors—to power-hungry customers. The company officially emerged from stealth this morning with a $2M batch […]
A young fusion firm in Sweden has closed a funding round in its quest to harness the power of the atom. Novatron Fusion is working toward building a stable and easily manufacturable fusion machine using magnetic confinement. Last week, it closed a €10M funding round to push it into the next stage of development: building […]
In its bid to develop an inherently safe molten salt reactor, Amsterdam-based Thorizon has raised a €20M ($21.7M) batch of funding. The round of funding—part of the company’s Series A—was led by the Dutch National Promotional Institution, and included participation from Positron Ventures, PDENH, and Impuls Zeeland. In the round announcement, Thorizon signaled that it’s […]
Another batch of funding has hit the fusion sector, and this time around, it’s supporting a simplified version of the twistiest concept around. Renaissance Fusion, a French stellarator developer, announced last week that it’s raised a €32M ($34.7M) funding round to advance development of its fusion machine concept and work toward a demo plant (h/t […]
What could nuclear power do if it was free from the restraints of the grid? Valar Atomics looks to answer that question by using nuclear reactors to create hydrocarbons that can replace traditional oil and gas-based fuels. This week, the company raised a $19M seed round, reached a tech milestone, and announced a major partnership […]
