Nuclear Startup Valar Atomics Raises $1 Billion Series B Led by Sequoia
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El Segundo-based Valar Atomics closed a $1 billion Series B financing round led by Sequoia Capital to support the development of nuclear reactors. As part of this new partnership, Valar welcomes Sequoia partner Shaun Maguire to Valar’s board of directors. Sequoia was joined in this round by Apandion, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, Valor Equity Partners and other investors both new and existing.
In addition to the equity financing, it closed a $200 million credit facility led by Erebor Bank, as administrative agent, and J.P. Morgan, alongside Crescent Cove and Hercules Capital.
“Thousands of reactors clustered strategically throughout the nation will take energy prices to lows that were historically inconceivable,” according to the company’s announcement.
The three-year-old company’s Ward 250 reactor achieved self-sustaining criticality on June 18, and the company subsequently announced a collaboration with NVIDIA on a waterless 30 MW AI factory to match Ward 250’s waterless reactor technology.
Funds will be used to build a fleet of integrated reactors that could power the AI infrastructure that will take technology and manufacturing to new heights. The reactors will power steel production and electrolysis, creating thousands of jobs that were once thought lost and ushering in a new era of industry.
This series B financing supports a plan to execute a vertically integrated, hardware-first approach that encompasses everything from reactor deployment and long-term operations to fuel production. Valar will not rely on outside suppliers for the fuel needed to deploy and operate. Instead, it will construct it in labs placed alongside the reactors upon which that fuel will run.
“One day, these reactors will transport us throughout the solar system to places that other energy cannot reach,” according to the company’s announcement.
Information for this story was provided by Valar Atomics.
