Antares, a rapidly growing advanced nuclear energy startup, has secured $96 million in Series B financing to accelerate development of its compact nuclear microreactor platform. The round was led by Shine Capital, with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and others. The financing includes $71 million in new equity and $25 million in debt earmarked for equipment, factory expansion, and uranium procurement.
The new capital arrives as Antares moves toward a significant milestone: its first reactor demonstration, expected within months. The company said the upcoming test will validate control systems, neutronics models, fuel fabrication, and its testing infrastructure ahead of a full-scale electricity-producing prototype scheduled for 2027.
Founded just over two years ago, Antares has already raised more than $130 million to date and built a 145,000-square-foot manufacturing facility in Torrance, California, designed to produce up to 10 microreactor units per year. The company also operates in Idaho Falls, Idaho, and Aiken, South Carolina, and employs a team of 60.
Antares has secured development partnerships with the U.S. Air Force, Space Force, the Defense Innovation Unit (DIU), and NASA, and aims to demonstrate a low-power test reactor by July 4, 2026, followed by field deployment of production units as early as 2028.
The company is also positioned to compete for new federal initiatives, including the Pentagon’s JANUS advanced nuclear energy program and NASA’s Fission Surface Power effort, which aims to deploy 100 kWe of nuclear power on the lunar surface by 2030.
KEY QUOTES:
“This funding marks a major milestone for Antares. We’re months away from our first reactor demonstration, which will validate our systems and fuel development ahead of our full-scale prototype in 2027. We’ve raised the capital we need to mobilize to provide resilient energy for our partners at the Department of War and NASA.”
Jordan Bramble, CEO of Antares
“No nuclear startup has turned on a fission reactor this century. Antares is poised to achieve this milestone in 2026, thanks to their reactor design, licensing maturity, fuel supply chain, and rapid technical progress. Their platform will uniquely address needs across defense, space, and critical industries while enabling future scale-up.”
Alex Hartz, General Partner at Shine Capital
