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The Nuclear Company is shaking up the nuclear industry by focusing on developing reactors using existing designs instead of reinventing the wheel. In a recent Series A funding round, the startup raised $51.3 million, bringing their total funding to $70 million.
Founders and Vision
Founded in 2023 by three seasoned entrepreneurs, The Nuclear Company is prioritizing sites with existing permits or licenses. With plans to develop 6 gigawatts in its first fleet, each site can support reactors generating over 1 gigawatt of electricity.
Tech Industry’s Demand
As tech companies and utilities seek stable power sources, nuclear startups are gaining traction. Google and Amazon are investing in small modular reactors, while Meta and Microsoft explore nuclear energy partnerships.
Challenges Ahead
Despite the potential of nuclear power, competition from solar energy poses a threat. With solar farms offering cost-effective and quick solutions, nuclear plants face financial uncertainties, especially with the potential removal of subsidies.
The future of nuclear energy remains uncertain, but The Nuclear Company’s innovative approach to reactor development shows promise in the evolving energy landscape.
