Zeno Power, a leading developer of nuclear batteries – radioisotope power systems – for frontier environments, announced a $50 million Series B funding round, led by Hanaco Ventures with participation from Seraphim, Balerion Space Ventures, JAWS, Vanderbilt University, RiverPark Ventures, Stage 1 Ventures, 7i Capital, Beyond Earth Ventures, and others. This funding brings Zeno’s total capital raised to over $70 million, following its Series A led by Tribe Capital in 2022.
Zeno’s nuclear batteries convert the natural decay of radioactive material into thermal and electrical power, providing reliable power in areas where solar power or batteries fail. And over the past three years, the company has achieved key milestones: successfully demonstrating its first nuclear prototype at Pacific Northwest National Laboratory, securing an initial Strontium-90 fuel supply from the U.S. Department of Energy, and collaborating with Westinghouse Electric Company to fabricate nuclear heat sources. And these achievements lay the foundation for full-scale deployment across defense, space, and emerging commercial markets.
New board member: Admiral John M. Richardson, USN (Ret.), former Chief of Naval Operations, has joined Zeno’s Board of Directors, supporting the company’s national security leadership as it brings its technology to contested and energy-scarce domains.
Admiral Richardson, who also headed the Navy’s nuclear fleet, joins Zeno’s Board as the company prepares to demonstrate its first-of-a-kind nuclear battery for maritime applications through a U.S. Department of Defense contract.
Government contracts: Zeno has secured over $60 million from the U.S. Department of Defense and NASA to develop nuclear batteries for demanding maritime and space applications like seabed infrastructure, highly maneuverable satellites, and lunar landers. And these programs utilize Zeno’s technology to deliver reliable, long-endurance energy in environments where traditional power sources fall short.
Zeno also recently announced an agreement with iSpace-U.S. to jointly develop technologies that enable lunar missions to survive the harsh lunar night. And the companies are targeting a demonstration mission as early as 2027 to validate this capability on the lunar surface.
What the funding will be used for: Zeno plans to grow its team to over 100 employees across Seattle and Washington, DC, and invest in manufacturing capabilities to scale production and meet customer demand.
KEY QUOTES:
“With great power competition rising, the ocean floor, Arctic, and lunar surface are becoming the front lines of global security and economic progress – but they remain energy deserts. With this round of funding, we’re on track to demonstrate full-scale systems in 2026 and deliver the first commercially built nuclear batteries to power frontier environments by 2027.”
Tyler Bernstein, Co-Founder and CEO of Zeno Power
“I’m proud to join Zeno Power at a strategic moment for nuclear innovation. Zeno’s nuclear batteries provide safe, reliable, and long-lasting power from the seabed to space, where traditional energy sources can’t reach. Competition is on in these newly contested domains, and Zeno will help power us forward to stay ahead.”
Admiral Richardson
“We invest in companies with the potential to define entire industries – and we believe Zeno Power is one of them. Their nuclear batteries will have an immediate impact in defense and space, and long-term potential to transform how energy is delivered in remote and distributed environments. We’re proud to back a team with deep technical expertise, regulatory fluency, and the grit to execute on bold, mission-driven goals.”
Lior Prosor, Partner at Hanaco Ventures
