This startup just raised nearly $500 million to build nuclear reactors for the US military

Image for article This startup just raised nearly $500 million to build nuclear reactors for the US military
News Source : TechRadar

News Summary

  • Nuclear fission startup Antares has announced it has raised a total of $470 million in funding.
  • The Torrance, California company closed a Series C co-led by Paradigm and Caffeinated Capital, with Point72 Ventures, Shine Capital and Industrious Ventures among the participants.
  • Antares' raise comes seven weeks after its Mark-0 microreactor reached criticality at Idaho National Laboratory under the Department of Energy's authorization.
  • It is mandated by an executive order ("Deploying Advanced Nuclear Reactor Technologies for National Security") signed by US President Donald Trump to ensure that it has an operating army-regulated nuclear reactor on a domestic military site by September 30, 2028.

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