Nuclear power company, Aalo, secures $100 million funding for the construction of a dual-purpose facility, integrating an advanced nuclear plant and data center.
Aalo Atomics, a US-based nuclear technology company founded in 2023 and based in Texas, has successfully secured $100 million in a Series B financing round. The funding round was led by Valor Equity Partners, with participation from a diverse group of investors including Hitachi Ventures, Fine Structure Ventures, Crosscut, NRG Energy, Vamos Ventures, Tishman Speyer, Kindred Ventures, 50Y, Harpoon Ventures, Crescent Enterprises, Alumni Ventures, MCJ, Gaingels, Perpetual VC, and Nucleation Capital.
The funds raised will be used to construct the first full-scale nuclear power plant by Aalo Atomics, the Aalo-X. This innovative power plant is targeted to reach zero-power criticality next year. The Aalo-X is designed to produce electricity, but it will also feature an experimental data center built alongside it, marking the first such co-location in the US.
The Aalo-X is part of Aalo Atomics' mission to accelerate the adoption of nuclear energy as a sustainable, resource-efficient power source. The company emphasizes factory mass-manufactured, fleet-deployed reactors that are quick to install, compact in land and water requirements, and clean. The modular design, metallic liquid sodium coolant, and low-pressure systems used in Aalo reactors enable co-located fleets capable of powering industrial loads or data centers efficiently and reliably.
Aalo Atomics plans to initially serve the data center market before expanding into broader markets such as municipal utilities, desalination, and industrial process heat. Aalo CEO and co-founder Matt Loszak stated, "The world needs as much nuclear energy as possible, as soon as possible, not just for powering AI acceleration but also for being the most sustainable and resource-efficient way to power almost everything."
In just under two years, Aalo Atomics has built a 40,000-square-foot pilot factory and a full-scale non-nuclear prototype. The company's commitment to innovation and sustainability has attracted significant investment, positioning Aalo Atomics as a key player in the nuclear energy sector. With the successful completion of the Series B financing round, Aalo Atomics is poised to make significant strides in the development and deployment of its groundbreaking nuclear power plant technology.
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