Apollo Atomics Raises $31 Million for Factory Made Nuclear Reactors

Apollo Atomics announced in a press release that it raised $31 million in seed financing led by FCVC to commercialize pressurized water reactors designed for factory production. The company said it will use the funding for demonstration work, long duration reliability testing, manufacturing capacity, and regulatory work with the U.S. Nuclear Regulatory Commission.

Apollo Atomics is an MIT spinoff building a compact steam system for pressurized water reactors. The company says the design can reduce the overall reactor footprint by about 40 times, allowing its reactors to be transported by truck and deployed in less than 24 months.

The company is developing three reactor systems: the 10 megawatt electric A-10, the 50 megawatt A-50, and the 300 megawatt A-300. The systems are aimed at data centers, industrial facilities, utilities, and other large energy users.

Apollo Atomics said it has more than 20 gigawatts of signed letters of intent in its commercial pipeline. The funding will also support construction of its A-1, a 1 megawatt commercial demonstrator, and continued engagement with the NRC.