Apollo Atomics has raised $31 million in seed funding to commercialize compact nuclear reactors. The round was led by FCVC with support from Y Combinator and several other investors. Participants also included Telesoft Partners, Alumni Ventures, and Robinhood Ventures, as well as Nucleation Capital, Pelion VC, and Duke Capital Partners, in addition to several well-known private investors.
These funds are aimed at modernizing the implementation of nuclear energy. The company aims to produce reactors on an industrial scale rather than building them as standalone mega-projects. The financing will be used to create a demonstration unit A-1, as well as to expand reliability testing and production capabilities.
Apollo Atomics, a subsidiary of MIT, develops compact water-cooled reactors. The company's technology focuses on reprocessing the reactor's steam generation system. Steam turbines use steam that transfers heat from the reactor coolant to generate electricity.
The company has developed a compact steam system with significantly higher power density, which, according to Apollo, allows for a reduction in reactor size by approximately 40 times. The design utilizes existing low-enriched uranium fuel and current nuclear industry supply chains.
This approach is capable of reducing risks associated with technologies and supply chains during commercial deployment. Apollo also plans factory production of its reactors; such systems can be delivered by truck and commissioned within two years. The company believes this model will reduce construction costs and shorten project timelines.
Apollo targets large energy consumers facing growing electricity demands. The company reported receiving over 20 gigawatts in signed letters of intent. Apollo's portfolio includes three types of reactor systems for various energy needs: the 10-megawatt A-10, the 50-megawatt A-50, and the 300-megawatt A-300. These reactors are intended for data centers, industrial facilities, and utilities.
The company has previously built and tested a working demonstration reactor complex at MIT. These tests help confirm the technology's viability in a commercial reactor setting. Now, the company plans to build its commercial demonstrator A-1, which will generate one megawatt of electricity. Furthermore, Apollo will expand long-term reliability testing, and production processes will be developed in collaboration with engineering and operations teams.
The company was founded by Assiel Khalimi and Drew Walker. Khalimi serves as CEO, and Walker is the COO.
Obtaining regulatory approval remains critical for Apollo to realize its commercial plans. The company has submitted an interaction plan to the U.S. Nuclear Regulatory Commission (NRC). Apollo seeks NRC authorization for the commercial use of the selected fuel configuration.
The company expects to reach this milestone by the end of 2026. The startup is building its platform based on established nuclear materials and operating principles, which may simplify certain aspects of its regulatory and production strategy.
Apollo's approach emerges amid renewed interest in nuclear energy. Data centers and industrial enterprises are creating increased demand for reliable power supply, and artificial intelligence infrastructure is intensifying pressure on energy availability. Nuclear reactors are capable of providing continuous, low-carbon energy for these energy-intensive operations.
Apollo's investors are betting that smaller reactors can meet these needs faster. The company's next challenge will be proving that its technology can transition from the demonstration stage to commercial application.