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 Oak Ridge, TN-based nuclear fuel startup emerged from stealth with a $42M funding round and a lofty goal of supplying the incoming fleet of US advanced reactors with large amounts of TRISO fuel.
- Decisive Point led the round.
- It also included participation from Andreessen Horowitz, Washington Harbour Partners, Welara, Fundomo, and Crucible Capital.
The company clinched more than $5M in contracts in 2025 so far, adding that it has more than $100M in nonbinding fuel sales for 2027.
They’ve got the juice: For the uninitiated, TRISO is short for TRi-structural ISOtropic particle fuel, a ceramic-coated pebble fuel format that is a popular choice in the advanced nuclear sector for its inherent safety, durability, and performance.
“Advanced nuclear fuels like TRISO for small modular and micro-reactors are necessary to unleash American energy dominance and enable a future with abundant power,” Tommy Hendrix, general partner at Decisive Point and executive chairman of Standard Nuclear, said in a release. “We are rapidly scaling TRISO fuel production to advance our mission of securing the domestic supply chain and achieving energy independence.”
The company has the assets to make that production happen. It owns the former K-25 Nuclear site in Oak Ridge, with fully permitted radiological facilities under its control.
“We’re not just delivering TRISO fuel at scale—we’re doing it at a cost that enables a robust, competitive, and sustainable advanced reactor industry,” Kurt Terrani, CEO of Standard Nuclear, said.
Lead Reporter of Ignition
