Antares Raises 470 Million Dollars to Build Small Nuclear Reactors for Military Bases

Nuclear energy startup Antares has raised 470 million dollars in funding to build a small reactor for US military bases. According to Ixbt.com and other technology publications, the Series C funding round was led by Paradigm and Caffeinated Capital, with contributions from companies such as Industrious Ventures, Point72 Ventures, and Shine Capital. This was reported by Techcrunch.com reports .

This funding round includes 370 million dollars in equity capital and 100 million dollars in debt financing. Antares is developing a small modular reactor (SMR) with an electrical generation capacity ranging from 100 kW to 1 MW. The power of such a device is considered sufficient to supply electricity to up to 750 households.

Technological features and safety

Like many modern nuclear startups, the Antares reactor uses TRISO fuel, which encapsulates uranium in a carbon and ceramic shell. This type of fuel is promoted as a safer alternative to traditional nuclear fuel. TRISO spheres the size of a billiard ball can be cooled using helium gas or molten salts.

This coating is designed to prevent the fuel from melting down if the reactor overheats. The Antares demonstration reactor, named Mark-0, achieved a major milestone on June 4 of this year at the Idaho National Laboratory. The company is one of three finalists in the Pentagon's advanced nuclear energy program for military facilities.

Industry growth trends and challenges

Recently, electricity demand has surged sharply due to the rapid construction of AI data centers and the electrification of the economy. As a result, investors are showing great interest in nuclear energy, particularly fission technologies. In April, X-energy raised 1 billion dollars through an IPO, while startups such as Radiant Energy, Standard Nuclear, and Last Energy also secured substantial funding.

However, despite high investor interest, advanced nuclear startups face a number of hurdles on the path to commercialization. These include an underdeveloped supply chain in the US and challenges in scaling production. Although many SMR startups claim that mass production will significantly reduce costs, this process will take at least a decade, and no startup has reached this stage yet.

According to Lazard, which analyzes energy technology costs, each MWh of new SMR reactors is expected to cost approximately 214 dollars. This price makes them more expensive than all other new power plants except the most expensive gas turbines. Nevertheless, Antares plans to launch its first electricity-generating reactor next year and deploy it to US military facilities in 2028.