Congratulations to portfolio company Aalo Atomics on their impressive fundraising round! Aalo is at the forefront of driving a clean energy future for all, consistently innovating and redefining what's possible. We're eager to see what the second atomic age holds. Read more below! ⬇
Very excited to announce that Aalo has closed a $27M Series A! We’re honored to be partnering with an incredible group of investors going into this next chapter. The future of nuclear is bright, and Aalo is just getting started. We’re on a mission to make small nuclear reactors in large factories. This will enable predictable low costs and short construction timelines, making clean energy a reality, any place, any time. Here’s what resonated most with our backers: ➡️ Speed: We raised our $6M Seed just about a year ago, and in the past 9 months we've scaled the team to 15 ppl, finished conceptual design of our reactor, signed a Siting MOU with the DOE, and submitted our REP to the NRC with agreement from a first customer. ➡️ Technology: Compelling economics thanks to high fuel energy density, simplified reactor inherent safety, and a focus on factory manufacturability from day 1. There exists an optimal balance between economy of numbers and economy of scale in nuclear, and we intend to find it. ➡️ Team: Highly experienced and credible team. Many worked on MARVEL program, and delivered first DOE authorization for construction of a new reactor since the DOE was formed in 1977. VP of Regulatory Affairs who helped pioneer the modern RIPB licensing framework used by most advanced nuclear companies today. (And more). ➡️ Master Plan: Unique strategy around go-to-market, regulatory approval, and technical de-risking. More to be announced here soon! Interested in joining the team, partnering, or visiting us in Austin or Idaho Falls? Please do reach out! 👋 And once again, thanks to Fifty Years, Valor Equity Partners, Harpoon Ventures, Crosscut Ventures, SNR, Alumni Ventures, Preston-Werner Ventures, Earth Venture Capital, Garage Capital, Wayfinder Ventures, Jeff Dean, Nucleation Capital, AME Cloud Ventures, Tyler Knight, Wheeler Gibson, Matthew Bellamy, Abhay Venkatesh, Guthrie Gintzler, Matt Sweeney, Calvin French-Owen, and some that we can't speak of publicly. Kudos to the whole Aalo Atomics team, cc Yasir Arafat, Amir Afzali, Richard Williams, MSME, MBA, P.E., Jeff Jones, Luke Andrew, Kyle Francis, Gavin Ridley, Asmaa Salem Farag, Kerwin G., Wheeler Gibson, Matt Hansink, and Nick Costelloe Blog post here: https://lnkd.in/gA-ahx7z