Nuclear power continues to attract attention from Big Tech and investors, and Aalo Atomics is the latest startup to cash in. The company announced today that it has raised $100 million in Series B funding, led by Valor Equity Partners with backing from 50 Alumni Ventures, Crescent Enterprises, Crosscut, Fine Structure Ventures, Gaingels, Harpoon Ventures, Hitachi Ventures, Kindred Ventures, MCJ, NRG Energy, Nucleation Capital, Perpetual VC, Tishman Speyer, and VamosVentures.
CEO Matt Loszak said in a LinkedIn post that Aalo plans to bring its first reactor online by summer 2026 at the Idaho National Laboratory (INL). That would mark a rare on-time delivery in an industry notorious for delays.Aalo has close ties to INL: its CTO, Yasir Arafat, previously led the lab’s Marvel small modular reactor project, which partly inspired Aalo’s prototype.
The company also benefited from development support under an Obama-era Department of Energy program aimed at accelerating nuclear innovation.If successful, Aalo intends to scale up rapidly with “Aalo Pod” plants, each combining five Aalo-1 reactors to produce 50 megawatts of electricity.
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The company has also teased an “experimental” data center to be built alongside its prototype, though it appears more as a nod to Big Tech partnerships than a technical breakthrough.Ultimately, Aalo is targeting electricity costs as low as 3 cents per kilowatt-hour, competitive with today’s natural gas plants and solar farms.
The company has not committed to a timeline for hitting that price point. The funding comes amid a surge of momentum for advanced nuclear startups. Just yesterday, Kairos Power announced that the Tennessee Valley Authority will buy 50 megawatts from its planned Hermes 2 plant in Oak Ridge, Tennessee, with Google lined up to use the electricity for its data centers.
