Last Energy Secures $100 Million to Accelerate Small Modular Reactor Deployment

A nuclear energy startup has secured major funding. Last Energy closed a $100 million Series C funding round. The investment was led by the Astera Institute.

This capital injection will fuel the company’s push to build small modular reactors. According to TechCrunch, the money will fund a pilot reactor in Texas. It will also help launch commercial production.

Funding to Power Pilot and Commercial Scale-Up

The new funding round had several key participants. Backers included AE Ventures, Galaxy Fund, and Gigafund. The Haskell Company and Woori Technology also joined.

This $100 million will fully finance a 5-megawatt pilot reactor. The site is leased from Texas A&M. Last Energy aims to activate this pilot next year.

The company then plans to build a 20-megawatt commercial unit. That larger model could power about 15,000 homes. Commercial production is targeted for 2028.

Industry Momentum Driven by Soaring Power Demand

Last Energy is part of a broader nuclear renaissance. Many startups are attracting significant investment. This surge is largely driven by data centers’ massive electricity needs.

For example, Google-backed X-energy raised $700 million last month. Antares secured $96 million just two weeks prior. Aalo Atomics also raised $100 million in August.

These companies all focus on advanced nuclear designs. The goal is to provide reliable, carbon-free baseload power. This is critical for tech giants and heavy industry.

Last Energy uses a unique approach based on a proven design. Their reactor is an evolution of a government design from decades ago. It was originally developed for a nuclear-powered ship.

The company permanently encases each reactor core in steel. This eliminates the need for complex on-site servicing. After its lifespan, the steel chamber becomes its own waste cask.

This wave of investment marks a pivotal shift for nuclear energy. Small modular reactors are gaining serious financial and industrial backing. The race is on to deliver clean, firm power at scale.

Dropping this nugget your way-

What is a small modular reactor (SMR)?

A small modular reactor is a compact nuclear power plant. It is designed for factory construction and easy transport. SMRs are simpler and often safer than traditional large reactors.

How is Last Energy’s reactor different?

It uses a modernized version of a decades-old, proven pressurized water design. The core is permanently sealed in a steel vault. This simplifies operations and long-term waste handling.

Why is there so much investment in nuclear now?

Demand for constant, carbon-free power is exploding. This is especially true from data centers and AI companies. Nuclear provides reliable energy regardless of weather or time of day.

When will Last Energy’s reactor be operational?

The company plans to start its 5-megawatt pilot reactor in 2025. Its full-scale 20-megawatt commercial unit is slated for 2028. This timeline depends on regulatory progress and construction.

What problem do SMRs solve?

They aim to reduce the high cost and long build times of traditional nuclear. Mass production in a factory should cut costs significantly. Their smaller size also opens up more potential sites.