The nuclear company It takes an old approach to building new nuclear reactors. Instead of ending a new plan or trying to make massively smaller reactors, it wants to develop a series of reactors using existing designs.
The start of two years announced A series of a series last month led by Eclipse with the participation of CIV, Eclipse, Goldcrest Capital, McJ Collective, True Ventures and Wonder Ventures, although it did not reveal the amount that increased. Now, TechCrunch has learned that the company has secured $ 51.3 million in a series of A, bringing the company’s total funding to $ 70 million.
The nuclear company was founded in 2023 by Three Serial Entrepreneurs: Former CEO of Appharvest Jonathan Webb, Arcadia CEO Kiran Bhatraju and CEO CIV Patrick Maloney. Starting gives priority to sites that already have licenses or operating licenses. Fewer than twelve sites fall into this context, according to deposits for Combined Operation Permits and Early Location Licenses in the nuclear regulatory committee.
In locations closest to the innovative, anyone can support reactors with more than 1 gigawatt production capacity. The nuclear company aims to develop 6 Gigawatts in its first fleet.
The funding tour arrives as technology companies and utilities are struggling to secure power for data centers. Demand for electricity in the US is expected to increase almost 16% by 2029, according to Network strategiesafter years of consistent consumption. Data centers are a large driver. The use of their electricity could four times By the end of the decade.
In the face of possible power shortages, technology companies have passed to nuclear companies and developers. Google is working with Kairos to build small articulated reactors (SMR), while Amazon has participated in a huge round of $ 700 million to fund X-EENERGY SMR plans. Meta has requested proposals from developers to create up to 4 gigawatts capacity production and Microsoft works with Constellation Energy to reboot a reactor on Three Mile.
But nuclear energy faces heads, both expected and unexpected. Solar energy competition is among the first: Technology companies and exploitation of data centers have been withdrawn from solar farms capacity, signing large bids. These farms are often combined with mass batteries for 24/7 electricity. Technology is cheap and new projects can be developed in about 18 months.
Nuclear nuclear can soon face other financial obstacles. This week, the House Ways and Means Committee has published the plan of a reconciliation bill that would kill nuclear energy subsidies granted under the inflation law. Nuclear power plants are currently eligible for tax credits of up to $ 15 per megawatt-hour.
Most new nuclear stations, including those in the timetable of the nuclear company, are not expected to come online until the early 1930s. Since forecasts for the next five years they change wildlyMassive nuclear plants entering service a decade from now could be stuck holding the bag.
UPDATE: Added final A series A and total funding amount.
