Antares Secures $96 Million to Accelerate Small Modular Reactor Development

Nuclear startup Antares announced major new funding today. The company raised $96 million in a Series B round. This capital will accelerate development of its innovative small modular reactor.

The news signals strong investor confidence in next-generation nuclear power. Antares aims to deploy its compact reactor design for commercial and defense uses. This funding round was led by Shine Capital and closed on Tuesday.

Funding Details and Strategic Roadmap for R1 Microreactor

The $96 million round includes $71 million in equity and $25 million in debt. Several venture firms participated, including Alt Capital and Caffeinated. This substantial investment will fuel the company’s ambitious timeline.

Antares is developing its R1 microreactor. The design produces between 100 kilowatts and 1 megawatt of electricity. It uses advanced TRISO fuel, which is considered highly robust and safe.

The company has set clear goals for the coming years. According to its plans, it aims to demonstrate the reactor for the Department of Energy next year. A full-power reactor is targeted for operation by 2027.

Broader Resurgence in Advanced Nuclear Energy Investment

Antares is part of a wider investment surge in advanced nuclear. This trend highlights a significant shift in energy strategy. Companies and governments are seeking reliable, carbon-free power sources.

Just last week, X-energy announced a $700 million funding round. TerraPower, backed by Bill Gates, raised $650 million in June. Other startups like Aalo Atomics have also secured nine-figure sums for their projects.

Major tech companies are driving much of this demand. Amazon, Microsoft, and Meta are all making huge commitments to nuclear power. They need vast amounts of clean, always-on electricity for their data centers.

The Department of Energy is actively supporting this push. Antares was named a participant in a federal reactor pilot program. The goal is to have several new reactor designs operational by mid-2026.

This wave of investment marks a pivotal moment for small modular reactor technology. The substantial funding for Antares underscores its role in a competitive and fast-moving sector. The race to deploy advanced nuclear power is now fully underway.

Thought you’d like to know

What is TRISO fuel?

TRISO stands for TRIstructural-ISOtropic particle fuel. It consists of small uranium spheres coated with layers of carbon and ceramic. This design makes it extremely resistant to melting and is considered a key safety feature for advanced reactors.

When does Antares plan to have a reactor operating?

The company’s current roadmap targets a demonstration for the DOE next year. Its goal is to have a full-power R1 microreactor operational sometime in 2027. This is an aggressive timeline compared to traditional nuclear projects.

Which other companies are building small modular reactors?

Several firms are active in this space. Notable players include TerraPower, X-energy, and Aalo Atomics. Each company is pursuing different reactor designs and technology approaches for various applications.

Why are tech companies investing in nuclear power?

Tech giants like Amazon and Google need massive, constant electricity for data centers. Nuclear power provides reliable, carbon-free baseload energy that renewables like solar and wind cannot consistently supply alone. It is a strategic move for their energy security and climate goals.

What is the Department of Energy’s role in this sector?

The DOE runs programs like the reactor pilot project that includes Antares. It also provides loan guarantees, like the $1 billion for restarting a reactor at Three Mile Island. Federal support is crucial for de-risking these capital-intensive projects.