Official announcement from the U.S. Department of Energy or a press release

Aalo Atomics Secures $27M Series A Amid $900M U.S. Nuclear Investment

Aug 14, 2024, 01:32 PM

Nuclear energy startup Aalo Atomics has successfully closed a $27 million Series A funding round. This investment will support the company's efforts to scale the development of small modular reactors (SMR) in factories. Aalo Atomics, led by CEO Matt Loszak, has recently completed the initial concept design of their reactor. The company has also signed a Memorandum of Understanding (MOU) with the U.S. Department of Energy (DOE) and submitted plans for further development. This funding round aligns with a broader initiative by the U.S. government, which recently announced a $900 million investment to accelerate the demonstration and deployment of advanced reactor technology, reinforcing America's leadership in the nuclear industry.