US military bases could be powered by Antares’ mini nuclear reactors by 2028

By Sujita Sinha – Interesting Engineering

Nuclear startup Antares announced on Monday that it has raised $470 million in new funding to help speed up the development of its small modular reactors (SMRs). The company expects its first systems to power U.S. military sites in the next few years.

The Series C funding round includes $370 million in equity and $100 million in debt. It was led by Paradigm and Caffeinated Capital, with participation from Industrious Ventures, Point72 Ventures, and Shine Capital. This investment comes as demand for reliable electricity grows, driven by more AI data centers and wider electrification in many industries.