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Nuclear startup Antares secured $96 million in Series B funding to advance its small modular reactor design. The round included $71 million in equity and $35 million in debt, led by Shine Capital with support from multiple investors. Antares aims to deploy its R1 microreactor in commercial, defense, and space sectors, generating 100 kW to 1 MW of power. The reactor uses TRISO fuel, featuring uranium encased in carbon-ceramic layers within graphite. This funding follows a surge in interest in nuclear energy solutions across industries.
Key facts
- Antares raised $96 million in Series B funding for nuclear reactor development.
- The funding split includes $71 million equity and $25 million debt from diverse investors.
- The R1 microreactor targets applications in commercial, defense, and space sectors.
- TRISO fuel technology uses uranium spheres coated in carbon-ceramic within graphite.
- Antares joins a wave of companies gaining traction in nuclear energy innovation.
