New and recently funded Energy Startups
1
Country: France | Funding: €19.5M
Otrera is making modern fast neutron reactor (FNR) rethinking its core design decisions to make it simple, safe, and cost-competitive. Its concept is based on a compact, modular loop-type architecture, drawing inspiration from proven LWR principles. It features three alternating reactor vessels: two in operation and one in cooling. This configuration allows for in-vessel fuel cooling, eliminating the need for separate storage pools—a major cost-saving innovation. The project is designed to reduce or even eliminate the traditional limitations of sodium technology and allows to simplify the reactor’s overall architecture, shrink the size of components and supporting infrastructure. Otrera’s modular design relies on standardized components, enabling a range of reactors from 30 to 450 MWe while significantly cutting costs and qualification timelines.
Otrera is making modern fast neutron reactor (FNR) rethinking its core design decisions to make it simple, safe, and cost-competitive. Its concept is based on a compact, modular loop-type architecture, drawing inspiration from proven LWR principles. It features three alternating reactor vessels: two in operation and one in cooling. This configuration allows for in-vessel fuel cooling, eliminating the need for separate storage pools—a major cost-saving innovation. The project is designed to reduce or even eliminate the traditional limitations of sodium technology and allows to simplify the reactor’s overall architecture, shrink the size of components and supporting infrastructure. Otrera’s modular design relies on standardized components, enabling a range of reactors from 30 to 450 MWe while significantly cutting costs and qualification timelines.
2
Country: France | Funding: €12M
Blue Capsule develops sodium-cooled high-temperature reactor that operates at over 800 °C but its core melt is designed to be virtually impossible. This is achieved through the use of TRISO fuel operating in a naturally circulating sodium pool at atmospheric pressure. The system is cooled by ambient air, requiring no water. The Blue Capsule design delivers sufficient power for an industrial site in a compact underground installation. By producing electricity, process heat, and steam simultaneously, a single Blue Capsule unit can meet the needs of an isolated energy community, providing a reliable “energy oasis” even in the driest locations. The startup targets an industrial heat cost of around 50 €/MWh - cheaper than fossil heat price.
Blue Capsule develops sodium-cooled high-temperature reactor that operates at over 800 °C but its core melt is designed to be virtually impossible. This is achieved through the use of TRISO fuel operating in a naturally circulating sodium pool at atmospheric pressure. The system is cooled by ambient air, requiring no water. The Blue Capsule design delivers sufficient power for an industrial site in a compact underground installation. By producing electricity, process heat, and steam simultaneously, a single Blue Capsule unit can meet the needs of an isolated energy community, providing a reliable “energy oasis” even in the driest locations. The startup targets an industrial heat cost of around 50 €/MWh - cheaper than fossil heat price.
3
Country: France
Calogena designs and develops water-based 30MW small modular reactor systems for district heating networks. The low-pressure, low-temperature operation, the direct use of heat and the very limited number of auxiliary systems make the concept intrinsically simpler and safer than any reactor currently in operation or planned. Calogena is a subsidiary of Gorgé industrial Group.
Calogena designs and develops water-based 30MW small modular reactor systems for district heating networks. The low-pressure, low-temperature operation, the direct use of heat and the very limited number of auxiliary systems make the concept intrinsically simpler and safer than any reactor currently in operation or planned. Calogena is a subsidiary of Gorgé industrial Group.
4
Country: France | Funding: €15M
Jimmy designs and operates nuclear-reactor-based thermal generators to produce and supply industrial clients with decarbonized process heat at a lower cost than fossil fuels, with a secured price over 20 years. It's nuclear reactor with no turbine, no generator and no grid connection is a 131-foot box running helium at 1,382 degrees and TRISO fuel
Jimmy designs and operates nuclear-reactor-based thermal generators to produce and supply industrial clients with decarbonized process heat at a lower cost than fossil fuels, with a secured price over 20 years. It's nuclear reactor with no turbine, no generator and no grid connection is a 131-foot box running helium at 1,382 degrees and TRISO fuel
5
Country: USA
ZettaJoule is developing high-temperature gas-cooled reactor ZJ designed to operate at temperatures up to 950 °C. Its advanced SMR technology builds on decades of proven, safety-tested operations at the High Temperature Engineering Test Reactor in Japan, which has operated since 1998. The startup is modernizing its design to maximize efficiency, lower costs, and power a wide range of applications. Its design leverages artificial intelligence and AI-based digital twins to streamline operations, cut costs, accelerate delivery, and minimize human error.
ZettaJoule is developing high-temperature gas-cooled reactor ZJ designed to operate at temperatures up to 950 °C. Its advanced SMR technology builds on decades of proven, safety-tested operations at the High Temperature Engineering Test Reactor in Japan, which has operated since 1998. The startup is modernizing its design to maximize efficiency, lower costs, and power a wide range of applications. Its design leverages artificial intelligence and AI-based digital twins to streamline operations, cut costs, accelerate delivery, and minimize human error.
6
Country: USA | Funding: $1.8M
Valar Atomics develops small modular nuclear reactors using proven high-temperature gas reactor (HTGR) technology combined with safe TRISO fuel. HTGRs are optimized to produce high-quality process heat which is used for industrial and chemical applications, providing nearby partners with affordable, abundant and clean energy. Using TRISO-coated fuel particles and helium coolant, the HTGRs passively remove decay heat without active systems or operator intervention. This design minimizes the risk of core damage even in severe accident scenarios. The company plans to mass-produce the reactors and deploy them at so-called gigasites, where they will power AI data centers, industrial facilities, and other customers.
Valar Atomics develops small modular nuclear reactors using proven high-temperature gas reactor (HTGR) technology combined with safe TRISO fuel. HTGRs are optimized to produce high-quality process heat which is used for industrial and chemical applications, providing nearby partners with affordable, abundant and clean energy. Using TRISO-coated fuel particles and helium coolant, the HTGRs passively remove decay heat without active systems or operator intervention. This design minimizes the risk of core damage even in severe accident scenarios. The company plans to mass-produce the reactors and deploy them at so-called gigasites, where they will power AI data centers, industrial facilities, and other customers.
7
Country: USA | Funding: $66.1M
Voltus is a virtual power plant operator that pays energy users to conserve or shift electricity use in response to grid signals. These signals can be triggered by a lack of energy supply (from heat waves, storms, downed power plants, renewable energy variability), high prices, high emissions on the grid, or other reasons. Demand response can also generate value for energy users in the form of electricity bill savings when leveraged to actively avoid demand charges. Demand response serves as a lifeline for grid operators and utilities to prevent blackouts or shut offs which can be extremely disruptive, even deadly, to businesses and residents.
Voltus is a virtual power plant operator that pays energy users to conserve or shift electricity use in response to grid signals. These signals can be triggered by a lack of energy supply (from heat waves, storms, downed power plants, renewable energy variability), high prices, high emissions on the grid, or other reasons. Demand response can also generate value for energy users in the form of electricity bill savings when leveraged to actively avoid demand charges. Demand response serves as a lifeline for grid operators and utilities to prevent blackouts or shut offs which can be extremely disruptive, even deadly, to businesses and residents.
8
Country: USA | Funding: $469.6M
NuScale Power has developed small modular reactor NPM, that was the first (during last 20 years) to receive design approval from the U.S. Nuclear Regulatory Commission. NPM design is based on proven pressurized water reactor technology and was developed to power power plants, district heating, desalination and industrial hydrogen production. The 77-megawatt reactor weighs 700 tons, allowing it to be shipped from the factory in three sections by truck, rail or barge. NuScale, in partnership with TVA and ENTRA1 Energy, is implementing a pioneering 6-GW SMR program to provide reliable, carbon-free electricity for the future of the seven-state TVA region. The company also established the Energy Research Center - an innovative educational environment offering users hands-on opportunities to apply nuclear science and engineering principles to simulated, real-world nuclear power plant scenarios.
NuScale Power has developed small modular reactor NPM, that was the first (during last 20 years) to receive design approval from the U.S. Nuclear Regulatory Commission. NPM design is based on proven pressurized water reactor technology and was developed to power power plants, district heating, desalination and industrial hydrogen production. The 77-megawatt reactor weighs 700 tons, allowing it to be shipped from the factory in three sections by truck, rail or barge. NuScale, in partnership with TVA and ENTRA1 Energy, is implementing a pioneering 6-GW SMR program to provide reliable, carbon-free electricity for the future of the seven-state TVA region. The company also established the Energy Research Center - an innovative educational environment offering users hands-on opportunities to apply nuclear science and engineering principles to simulated, real-world nuclear power plant scenarios.
9
Country: USA | Funding: $1.5B
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its fast-neutron reactor Natrium has capacity up to 345 MW and includes molten salt heat storage system. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. To ramp quickly, it doesn’t increase or decrease the power output - the extra heat gets stored in a giant vat of molten salt. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (for now the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its fast-neutron reactor Natrium has capacity up to 345 MW and includes molten salt heat storage system. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. To ramp quickly, it doesn’t increase or decrease the power output - the extra heat gets stored in a giant vat of molten salt. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (for now the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
10
Country: USA | Funding: $13.1M
Reservoir provides smart heat pump water heaters with connected energy management and thermal storage. But predicting when people will need hot water, the system can heat the tank when electricity demand is low and prices are cheap. Plus, the device’s heat pump is nearly four times more efficient than an electric water heater and five times more efficient than a natural gas version. The system can also relieve strain on the grid at the neighborhood level - aggregate the fleet of water heaters to participate in utility demand response programs, which pay handsomely for large users to avoid tapping the grid at certain times.
Reservoir provides smart heat pump water heaters with connected energy management and thermal storage. But predicting when people will need hot water, the system can heat the tank when electricity demand is low and prices are cheap. Plus, the device’s heat pump is nearly four times more efficient than an electric water heater and five times more efficient than a natural gas version. The system can also relieve strain on the grid at the neighborhood level - aggregate the fleet of water heaters to participate in utility demand response programs, which pay handsomely for large users to avoid tapping the grid at certain times.
