Microreactor startup Antares raises $96M for land, sea, and space-based nuclear power

Nuclear startup Antares has secured $96 million in Series B funding to advance its small modular reactor (SMR) technology designed for land, sea, and space applications. The funding round, led by Shine Capital and including both equity ($71 million) and debt ($25 million), reflects growing investor interest in nuclear power amid a broader resurgence in the sector. Antares is developing a reactor utilizing TRISO fuel and aims to demonstrate its reactor for the U.S. Department of Energy (DOE) next year, with plans to achieve full-power operation by 2027. The company is also among 11 participants in the DOE’s reactor pilot program, which targets operational reactors by mid-2026, a notably accelerated timeline for the nuclear industry. This funding and development come amid a wider revitalization of nuclear energy, including both small modular reactors and large nuclear plants. Other startups like Deep Fission, Aalo Atomics, and TerraPower have recently made significant progress or raised capital, while major corporations