Most of the money pouring into small nuclear reactors is chasing AI data centres. This round is chasing a date.
Antares has raised $470mn, co-led by Paradigm and Caffeinated Capital, with Point72 Ventures, Shine Capital and Industrious Ventures joining. The split is $370mn of equity and $100mn of debt, Bloomberg reported.
The company was founded in 2023 and has now raised more than $600mn. It wants reactors on US military installations by 2028.
The deadline doing the work
Executive Order 14299 directs the Department of War to have a reactor operating at a domestic military installation by 30 September 2028.
