The company Antares, which develops small modular reactors, announced raising $96 million in a financing round. The funding includes $71 million in equity and $25 million in loan financing. Notably, Antares is developing the R1 microreactor, with a power output ranging from 100 kilowatts to 1 megawatt. It is intended for commercial use, defense industry applications, and space exploration.
The reactor uses TRISO (Tristructural Isotropic Particle Fuel). This fuel consists of uranium particles coated in layers of carbon and encapsulated in a graphite matrix. Such a construction ensures high safety levels, preventing radioactive leaks even under extreme temperatures. TRISO’s robustness makes it particularly suitable for next-generation reactors, enhancing their resilience.
Interest in nuclear energy has surged recently, and Antares is not the only company benefiting from this momentum. For instance, X-energy, backed by Amazon, recently secured $700 million. Deep Fission, which faced funding challenges, went public through a reverse merger valued at $30 million in September. Aalo Atomics raised $100 million for a demonstration data processing center powered by a microreactor, and Nvidia has invested in TerraPower, a startup supported by Bill Gates developing small modular reactors.
In August, Antares was included in the list of 11 participants in the U.S. Department of Energy’s pilot program for reactors. The program aims to commission at least three reactors by July 4, 2026. Antares plans to demonstrate its reactor to the Department of Energy next year and to launch a full-scale facility in 2027.
The development of small modular reactors represents a promising direction in nuclear energy. Such reactors can be used to power remote areas, military bases, and spacecraft. As global sustainability initiatives and climate goals evolve, innovations in nuclear technology, like those from Antares and its peers, are crucial for providing efficient and clean energy solutions.
