Nuclear tech startup Radiant announced that it has raised $165 million in a Series C funding round, with proceeds aimed at advancing its development of mass-produced nuclear microreactors.
Founded in 2020, California-based Radiant is designing a 1MW nuclear microreactor that can be mass-produced and act as a climate-friendly, zero-emissions alternative to diesel generators, providing power for applications such as remote villages, emergency responders, and military installations.
The funding announcement follows the selection of Radiant by the U.S. Department of Energy as one of five companies in the U.S. to receive high-assay low-enriched uranium (HALEU) fuel. Radiant said it will use this fuel for the first test of its reactor next year at the Idaho National Laboratory DOME facility.
Radiant said that it plans to test its first reactor in 2026, with initial customer deployments beginning in 2028. The company added that the new funding will help it continue development, and begin construction efforts on facilities that are expected to produce up to 50 microreactors per year. To date, Radiant has raised venture funding of $225 million.
Doug Bernauer, CEO and Founder of Radiant, said:
“Adding some of the smartest minds in technology investment to our team is a powerful vote of confidence in Radiant – and the belief that America must continue to lead the way in nuclear innovation – as we ramp up to test the first new reactor design in the U.S. in over 50 years.”
The new funding was led by DCVC, and includes investments from StepStone, Giant Ventures, Hanwha Asset Management Venture Fund, SGA, Crossbeam Venture Partners, Align Ventures, ARK Venture Fund, Gigascale Capital, HartBeat Ventures, and Pax Ventures.
Will Dufton, who leads Growth investments at Giant Ventures, said:
“We are seeing a new nuclear renaissance play out right now. Radiant’s success will uncork the final bottlenecks to progress for the entire nuclear industry.”
