New and recently funded Energy Startups
1
Country: Denmark | Funding: $33.6M
Copenhagen Atomics is developing thorium molten salt reactor technology, with a focus on low electricity prices and fast installation. Its first test reactor (planned for 2028) and first commercial reactors (planned for 2030s) will run on 5% enriched uranium as fuel salt and thorium as blanket salt. With high enriched Li7 for optimal neutron economy, CAs reactors will have better neutron economy than any other reactor ever designed or build (according to the startup). The first reactors will not be breeder reactors, meaning that they will generate more fissile fuel than they consume. But they will have breeding ratio approaching 1. In the long term CA wishes to make thorium breeder reactors in the thermal spectrum (slow neutrons). CA has also invented the Onion Core technology, enabling a compact reactor that can be mass-manufactured efficiently while requiring only a small amount of materials.
Copenhagen Atomics is developing thorium molten salt reactor technology, with a focus on low electricity prices and fast installation. Its first test reactor (planned for 2028) and first commercial reactors (planned for 2030s) will run on 5% enriched uranium as fuel salt and thorium as blanket salt. With high enriched Li7 for optimal neutron economy, CAs reactors will have better neutron economy than any other reactor ever designed or build (according to the startup). The first reactors will not be breeder reactors, meaning that they will generate more fissile fuel than they consume. But they will have breeding ratio approaching 1. In the long term CA wishes to make thorium breeder reactors in the thermal spectrum (slow neutrons). CA has also invented the Onion Core technology, enabling a compact reactor that can be mass-manufactured efficiently while requiring only a small amount of materials.
2
Country: Switzerland | Funding: $43.5M
Transmutex develops designs and software for an accelerator-powered technology that turns existing nuclear waste into clean energy and produces radioisotopes for medical and industrial applications. The technology is offered to nuclear power plant operators and includes full support from procurement to maintenance. The main idea is mixing thorium with nuclear waste and transforming it into energy (heat or as electricity) and more short-lived elements that will decay within 300 years - less time than it takes for a plastic bottle or a cigarette butt to degrade in the ocean.
Transmutex develops designs and software for an accelerator-powered technology that turns existing nuclear waste into clean energy and produces radioisotopes for medical and industrial applications. The technology is offered to nuclear power plant operators and includes full support from procurement to maintenance. The main idea is mixing thorium with nuclear waste and transforming it into energy (heat or as electricity) and more short-lived elements that will decay within 300 years - less time than it takes for a plastic bottle or a cigarette butt to degrade in the ocean.
3
Country: Netherlands | Funding: €42.5M
Thorizon is building a molten salt modular reactor to power industry, data centers and Europe's energy independence. It was founded as a spin-off from the Netherlands’ national nuclear research institute, where molten salt technology was developed quietly for decades. The reactor will use nuclear waste as fuel and provide both power and high‑temperature heat with sufficient safety. Thorizon’s patented cartridges divide the reactor core into smaller modules, unlocking the benefits of off-site series production and modular scalability. Easy to operate, move, and deploy, these cartridges make building reactors faster and more flexible than ever. The first plant construction will start in the early 2030s.
Thorizon is building a molten salt modular reactor to power industry, data centers and Europe's energy independence. It was founded as a spin-off from the Netherlands’ national nuclear research institute, where molten salt technology was developed quietly for decades. The reactor will use nuclear waste as fuel and provide both power and high‑temperature heat with sufficient safety. Thorizon’s patented cartridges divide the reactor core into smaller modules, unlocking the benefits of off-site series production and modular scalability. Easy to operate, move, and deploy, these cartridges make building reactors faster and more flexible than ever. The first plant construction will start in the early 2030s.
4
Country: USA | Funding: $50M
General Matter intends to produce enriched uranium fuel for nuclear energy applications. The startup is planning to build the first US-owned, privately developed uranium enrichment facility in Paducah where it will concentrate the element to power nuclear reactors. According to the plan the facility will be operating before 2030.
General Matter intends to produce enriched uranium fuel for nuclear energy applications. The startup is planning to build the first US-owned, privately developed uranium enrichment facility in Paducah where it will concentrate the element to power nuclear reactors. According to the plan the facility will be operating before 2030.
5
Country: USA | Funding: $51M
The Nuclear Company intends to construct a fleet of nuclear power plants in the U.S. Its target markets are data centers, electrification of the transportation sector (cars, trucks), and manufacturing centers. The startup it going to use Westinghouse AP1000 sites (which are not expected to be developed by their respective utilities) and expresses a goal of building 6 GW of power over 10-15 years. The reactor's classic design is approved and licensed in the US. The firm claims its consortium of utilities and independent power producers, hyperscalers, nuclear technology suppliers, and private equity help mitigate risk and make nuclear power an attractive investment.
The Nuclear Company intends to construct a fleet of nuclear power plants in the U.S. Its target markets are data centers, electrification of the transportation sector (cars, trucks), and manufacturing centers. The startup it going to use Westinghouse AP1000 sites (which are not expected to be developed by their respective utilities) and expresses a goal of building 6 GW of power over 10-15 years. The reactor's classic design is approved and licensed in the US. The firm claims its consortium of utilities and independent power producers, hyperscalers, nuclear technology suppliers, and private equity help mitigate risk and make nuclear power an attractive investment.
6
Country: USA | Funding: $136M
Aalo makes small, factory-manufactured nuclear power plants for data-centers. Named Aalo Pod, it's a rapidly deployable 50 MWe power plant with five 10 MWe extra-modular reactor (XMR) reactors sharing multiple turbines. It's designed for phased maintenance and never goes offline. It's comprised of factory-manufactured standardize modules that fit on the back of the truck. The whole power plant, not just the core, is factory-built in shipping-container-sized modules. The company says: construction takes days, not years. Aalo operates vertically integrated Gigawatt factory in Austin designed to produce 1 GW reactors per year. It intends to deploy one gigawatt of nuclear capacity by 2030.
Aalo makes small, factory-manufactured nuclear power plants for data-centers. Named Aalo Pod, it's a rapidly deployable 50 MWe power plant with five 10 MWe extra-modular reactor (XMR) reactors sharing multiple turbines. It's designed for phased maintenance and never goes offline. It's comprised of factory-manufactured standardize modules that fit on the back of the truck. The whole power plant, not just the core, is factory-built in shipping-container-sized modules. The company says: construction takes days, not years. Aalo operates vertically integrated Gigawatt factory in Austin designed to produce 1 GW reactors per year. It intends to deploy one gigawatt of nuclear capacity by 2030.
7
Country: USA | Funding: $164M
Last Energy builds small modular nuclear reactors that can be mass-produced. The company uses an older 20 MW PWR-reactor design developed by the government for a merchant ship. The reactor is designed to operate without maintenance for its entire service life. It will be delivered to site in an all-metal vessel with a six-year supply of uranium. Heat from fission reactions heats the steel and water flowing through pipes outside uses this heat to spin a steam turbine. At the end of its service life, the steel vessel will serve as a waste container, eliminating the need for separate disposal. The company hopes that this approach, combined with advances in manufacturing, will lead to lower cost of nuclear energy. It is currently building a 5-megawatt pilot reactor while the production of a 20-megawatt commercial reactor is scheduled to begin in 2028.
Last Energy builds small modular nuclear reactors that can be mass-produced. The company uses an older 20 MW PWR-reactor design developed by the government for a merchant ship. The reactor is designed to operate without maintenance for its entire service life. It will be delivered to site in an all-metal vessel with a six-year supply of uranium. Heat from fission reactions heats the steel and water flowing through pipes outside uses this heat to spin a steam turbine. At the end of its service life, the steel vessel will serve as a waste container, eliminating the need for separate disposal. The company hopes that this approach, combined with advances in manufacturing, will lead to lower cost of nuclear energy. It is currently building a 5-megawatt pilot reactor while the production of a 20-megawatt commercial reactor is scheduled to begin in 2028.
8
Country: USA | Funding: $186.5M
Standard Nuclear produces TRISO nuclear fuel (from uranium), which is independent of reactor type. The TRISO (TRi-structural ISOtropic) fuel concept was first developed in the 1950s. Poppy-seed-sized uranium particles are coated with ceramic and carbon. They are then packed into larger spheres. This fuel pellet design will be more resistant to meltdown. Standard Nuclear’s modular manufacturing architecture is built for flexibility, allowing it to produce diverse fuel designs on a single production line with minimal switching time and cost. Many nuclear energy startups have announced they will use TRISO in their reactors. The company's clients include Radiant Energy and Nano Nuclear Energy.
Standard Nuclear produces TRISO nuclear fuel (from uranium), which is independent of reactor type. The TRISO (TRi-structural ISOtropic) fuel concept was first developed in the 1950s. Poppy-seed-sized uranium particles are coated with ceramic and carbon. They are then packed into larger spheres. This fuel pellet design will be more resistant to meltdown. Standard Nuclear’s modular manufacturing architecture is built for flexibility, allowing it to produce diverse fuel designs on a single production line with minimal switching time and cost. Many nuclear energy startups have announced they will use TRISO in their reactors. The company's clients include Radiant Energy and Nano Nuclear Energy.
9
Country: Canada | Funding: $156.6M
Terrestrial Energy creates SMR based on molten salt fission technology. In its reactor (iMSR) uranium fuel is mixed with various salts, such as lithium fluoride or sodium fluoride, that serve to suspend the nuclear fuel and act as the reactor’s main coolant. The reactor core includes not only the fuel and graphite modulators that regulate the speed of the fission reactions, but also the heat exchangers and pumps that keep the salt cool and flowing. The startup is targeting a range of markets, including electric power, data centers, and industrial applications that require heat.
Terrestrial Energy creates SMR based on molten salt fission technology. In its reactor (iMSR) uranium fuel is mixed with various salts, such as lithium fluoride or sodium fluoride, that serve to suspend the nuclear fuel and act as the reactor’s main coolant. The reactor core includes not only the fuel and graphite modulators that regulate the speed of the fission reactions, but also the heat exchangers and pumps that keep the salt cool and flowing. The startup is targeting a range of markets, including electric power, data centers, and industrial applications that require heat.
10
Country: USA | Funding: $425M
Blue Energy builds nuclear power plants in shipyards because these facilities allow for the processing of large volumes of steel and the easy delivery of it to the construction site after completion. Unlike many nuclear energy startups, Blue Energy isn't developing a new reactor, but rather reimagining the nuclear plant construction process. It partners with the world’s most trusted reactor vendors like GE Vernova for reactor production. By shifting the bulk of specialized construction work to the shipyard, Blue Energy significantly reduces project costs. The reactor itself is built in a factory and delivered to the shipyard by barge. While this limits the total number of sites Blue Energy can develop, it can still use rivers to expand into the US, Europe, Africa, and Asia.
Blue Energy builds nuclear power plants in shipyards because these facilities allow for the processing of large volumes of steel and the easy delivery of it to the construction site after completion. Unlike many nuclear energy startups, Blue Energy isn't developing a new reactor, but rather reimagining the nuclear plant construction process. It partners with the world’s most trusted reactor vendors like GE Vernova for reactor production. By shifting the bulk of specialized construction work to the shipyard, Blue Energy significantly reduces project costs. The reactor itself is built in a factory and delivered to the shipyard by barge. While this limits the total number of sites Blue Energy can develop, it can still use rivers to expand into the US, Europe, Africa, and Asia.
