New and recently funded Energy Startups
1
Country: Canada | Funding: $156.6M
Terrestrial Energy creates SMR based on molten salt fission technology. In its reactor (iMSR) uranium fuel is mixed with various salts, such as lithium fluoride or sodium fluoride, that serve to suspend the nuclear fuel and act as the reactor’s main coolant. The reactor core includes not only the fuel and graphite modulators that regulate the speed of the fission reactions, but also the heat exchangers and pumps that keep the salt cool and flowing. The startup is targeting a range of markets, including electric power, data centers, and industrial applications that require heat.
Terrestrial Energy creates SMR based on molten salt fission technology. In its reactor (iMSR) uranium fuel is mixed with various salts, such as lithium fluoride or sodium fluoride, that serve to suspend the nuclear fuel and act as the reactor’s main coolant. The reactor core includes not only the fuel and graphite modulators that regulate the speed of the fission reactions, but also the heat exchangers and pumps that keep the salt cool and flowing. The startup is targeting a range of markets, including electric power, data centers, and industrial applications that require heat.
2
Country: USA | Funding: $425M
Blue Energy builds nuclear power plants in shipyards because these facilities allow for the processing of large volumes of steel and the easy delivery of it to the construction site after completion. Unlike many nuclear energy startups, Blue Energy isn't developing a new reactor, but rather reimagining the nuclear plant construction process. It partners with the world’s most trusted reactor vendors like GE Vernova for reactor production. By shifting the bulk of specialized construction work to the shipyard, Blue Energy significantly reduces project costs. The reactor itself is built in a factory and delivered to the shipyard by barge. While this limits the total number of sites Blue Energy can develop, it can still use rivers to expand into the US, Europe, Africa, and Asia.
Blue Energy builds nuclear power plants in shipyards because these facilities allow for the processing of large volumes of steel and the easy delivery of it to the construction site after completion. Unlike many nuclear energy startups, Blue Energy isn't developing a new reactor, but rather reimagining the nuclear plant construction process. It partners with the world’s most trusted reactor vendors like GE Vernova for reactor production. By shifting the bulk of specialized construction work to the shipyard, Blue Energy significantly reduces project costs. The reactor itself is built in a factory and delivered to the shipyard by barge. While this limits the total number of sites Blue Energy can develop, it can still use rivers to expand into the US, Europe, Africa, and Asia.
3
Country: USA | Funding: $1.4B
Oklo is building a container-sized, continuously operating, carbon-free and emissions-free fast reactor Aurora. It uses liquid metal coolant and generates up to 75 MW, features built-in safety and can run on reprocessed nuclear waste. The reactor is self-stabilizing, self-regulating and cooled by natural forces. This means the plant is safe for personnel and the technology that enables this has been demonstrated at scale. Oklo also reprocesses nuclear fuel. The company has three project sites and the broadest regulatory support of any modern nuclear power system in the United States. OpenAI co-founder Sam Altman is the primary investor and even served as an early Oklo CEO.
Oklo is building a container-sized, continuously operating, carbon-free and emissions-free fast reactor Aurora. It uses liquid metal coolant and generates up to 75 MW, features built-in safety and can run on reprocessed nuclear waste. The reactor is self-stabilizing, self-regulating and cooled by natural forces. This means the plant is safe for personnel and the technology that enables this has been demonstrated at scale. Oklo also reprocesses nuclear fuel. The company has three project sites and the broadest regulatory support of any modern nuclear power system in the United States. OpenAI co-founder Sam Altman is the primary investor and even served as an early Oklo CEO.
4
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.
5
Country: USA | Funding: $518.8M
Radiant produces a portable nuclear microreactor Kaleidos that can replace diesel generators. It is a compact nuclear reactor (1 MW) working on meltdown-resistant TRISO fuel with all the necessary equipment to generate electricity for remote villages and facilities, as well as backup power for hospitals and data centers. It requires no on-site water consumption thanks to the use of fans for air cooling. Helium conducts heat away from the core and does not become radioactive, eliminating the impact of leaks. The reactor is assembled and fueled at the factory and delivered by truck or plane. Radiant has a contract to mass-produce microreactors for US military bases.
Radiant produces a portable nuclear microreactor Kaleidos that can replace diesel generators. It is a compact nuclear reactor (1 MW) working on meltdown-resistant TRISO fuel with all the necessary equipment to generate electricity for remote villages and facilities, as well as backup power for hospitals and data centers. It requires no on-site water consumption thanks to the use of fans for air cooling. Helium conducts heat away from the core and does not become radioactive, eliminating the impact of leaks. The reactor is assembled and fueled at the factory and delivered by truck or plane. Radiant has a contract to mass-produce microreactors for US military bases.
6
Country: USA | Funding: $596M
Antares designs and builds microfission reactors for strategic energy applications, including space missions, commercial and military energy resilience. Its R1 microreactor can produce from 100 kilowatts to 1 megawatt and uses TRISO fuel, which consists of uranium spheres coated with carbon and ceramics, embedded in graphite. It's designed to run safely and autonomously for 6+ years without refueling. The company performs high-precision machining of the nuclear graphite in-house, speeding design iterations. The optimized reactor design simplifies deployment with a minimal number of actuators. The control drums, made of graphite and boron carbide, have independent actuators, inspired by the designs of historical space reactors. Antares has a manufacturing facility in California and has already tested the first electrically heated demonstration unit (EDU).
Antares designs and builds microfission reactors for strategic energy applications, including space missions, commercial and military energy resilience. Its R1 microreactor can produce from 100 kilowatts to 1 megawatt and uses TRISO fuel, which consists of uranium spheres coated with carbon and ceramics, embedded in graphite. It's designed to run safely and autonomously for 6+ years without refueling. The company performs high-precision machining of the nuclear graphite in-house, speeding design iterations. The optimized reactor design simplifies deployment with a minimal number of actuators. The control drums, made of graphite and boron carbide, have independent actuators, inspired by the designs of historical space reactors. Antares has a manufacturing facility in California and has already tested the first electrically heated demonstration unit (EDU).
7
Country: USA | Funding: $629M
Kairos Power is developing advanced FHR reactor using granular TRI-Structural ISOtropic (TRISO) fuel in pebble form. The technology uses an efficient and flexible steam cycle to convert heat from fission into electricity. Instead of water, used in traditional nuclear reactors, the Kairos Power reactor uses molten fluoride salts as coolant, which has excellent chemical stability and high heat transfer capacity at high temperatures. The reactor requires no electrical power to remove heat from the core in case of shutdown and there is no need for coolant makeup (since the coolant cannot boil off). The fuel's resistance to extremely high temperatures provides orders of magnitude greater cooling capacity in emergency scenarios compared to water-cooled reactors. The company's goal is to build the Hermes 2 Demonstration Plant (50 MW) by 2030. It also has contract with Google to power its data-centers.
Kairos Power is developing advanced FHR reactor using granular TRI-Structural ISOtropic (TRISO) fuel in pebble form. The technology uses an efficient and flexible steam cycle to convert heat from fission into electricity. Instead of water, used in traditional nuclear reactors, the Kairos Power reactor uses molten fluoride salts as coolant, which has excellent chemical stability and high heat transfer capacity at high temperatures. The reactor requires no electrical power to remove heat from the core in case of shutdown and there is no need for coolant makeup (since the coolant cannot boil off). The fuel's resistance to extremely high temperatures provides orders of magnitude greater cooling capacity in emergency scenarios compared to water-cooled reactors. The company's goal is to build the Hermes 2 Demonstration Plant (50 MW) by 2030. It also has contract with Google to power its data-centers.
8
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.
9
Country: UK | Funding: $677.1M
Newcleo develops small modular reactor that uses MOX fuel technology to reprocess spent uranium from conventional nuclear power plants. The 200 MW reactor uses lead as a coolant. It's an ultra-compact module with improved energy density compared to other technologies. The company also produces FR-MOX fuel (Fast Reactors Mixed Pu-U Oxides) which consists of depleted uranium (a byproduct of the enrichment process in modern reactors) and plutonium (which is extracted from spent nuclear fuel). Thus it intends to close the fuel cycle and avoid mining. Newcleo plans to install the first 30 MW lead-cooled fast reactor in France by the end of 2033.
Newcleo develops small modular reactor that uses MOX fuel technology to reprocess spent uranium from conventional nuclear power plants. The 200 MW reactor uses lead as a coolant. It's an ultra-compact module with improved energy density compared to other technologies. The company also produces FR-MOX fuel (Fast Reactors Mixed Pu-U Oxides) which consists of depleted uranium (a byproduct of the enrichment process in modern reactors) and plutonium (which is extracted from spent nuclear fuel). Thus it intends to close the fuel cycle and avoid mining. Newcleo plans to install the first 30 MW lead-cooled fast reactor in France by the end of 2033.
10
Country: France | Funding: $2.1B
Orano offers solutions for every stage of nuclear energy production: from uranium mining, conversion, enrichment, reprocessing, logistics and engineering to decommissioning and dismantling. The company operates uranium mines in Canada, Kazakhstan and Niger and is one of the world's leading uranium producers. It's offering competitive production costs and advanced recovery technologies. In addition to mining, the company carries out exploration and development projects in uranium-bearing zones, as well as the rehabilitation and modernization of former mines. Orano is also a world leader in uranium processing, ensuring its customers the efficient, safe and responsible management of spent nuclear fuel. By recovering 96% of recycled materials (95% uranium and 1% plutonium) from spent fuel Orano can reprocess the material and produce new fuel, such as mixed oxide fuel (MOX) for nuclear reactors.
Orano offers solutions for every stage of nuclear energy production: from uranium mining, conversion, enrichment, reprocessing, logistics and engineering to decommissioning and dismantling. The company operates uranium mines in Canada, Kazakhstan and Niger and is one of the world's leading uranium producers. It's offering competitive production costs and advanced recovery technologies. In addition to mining, the company carries out exploration and development projects in uranium-bearing zones, as well as the rehabilitation and modernization of former mines. Orano is also a world leader in uranium processing, ensuring its customers the efficient, safe and responsible management of spent nuclear fuel. By recovering 96% of recycled materials (95% uranium and 1% plutonium) from spent fuel Orano can reprocess the material and produce new fuel, such as mixed oxide fuel (MOX) for nuclear reactors.
