Aalo Atomics
Overview
Aalo Atomics is a nuclear engineering startup that has established itself as a pioneer in developing factory-built microreactors for diverse clean energy needs. Headquartered in Austin, Texas, the company was founded in 2022 by a leading team drawn from the MARVEL reactor project developed at the Idaho National Laboratory (INL). Aalo Atomics focuses on creating small-scale nuclear reactors, notably the Aalo-1, which aims to deliver affordable electricity with a target cost of 3¢ per kWh. Having raised over $33 million as of 2024, Aalo Atomics is committed to making reactor deployment more predictable and cost-efficient.
Recent Developments
- September 2024: Aalo Atomics signed a groundbreaking Memorandum of Understanding (MOU) with Idaho Falls Power to potentially deploy a fleet of seven Aalo-1 reactors, totaling 75 MWe in power generation. The project is slated to be completed by 2030, marking a significant collaboration between advanced nuclear technology and city utilities.
- August 2024: Aalo Atomics announced the commissioning of a new headquarters and manufacturing facility in Austin, Texas, indicating an expansion of its operational capacity. The company also raised $27 million in Series A funding to boost the development of its microreactor prototypes.
- July 2024: Aalo submitted a Regulatory Engagement Plan (REP) to the U.S. Nuclear Regulatory Commission (NRC) for the Aalo-1 microreactor, marking a crucial step toward obtaining the necessary licensure for operation by 2029.
- May 2024: Completion of the conceptual design for the Aalo-1 microreactor was achieved, along with the signing of a siting MOU with the Department of Energy for the development of the experimental Aalo-X reactor at the INL site.
- December 2023: Aalo Atomics was awarded a GAIN voucher from the Department of Energy, facilitating collaboration with INL on modeling and simulation capabilities for the Aalo-1 microreactor.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Austin, Texas, USA |
| Founders | Team from the MARVEL reactor project |
| Revenue | Not publicly available |
| Profits | Not publicly available |
| Key Investors | Valor Equity Partners, Harpoon Ventures, Nucleation Capital, among others |
| Industry | Nuclear Energy Technology |
| Number of Employees | Approximately 30 by late 2024 |
Early History
Aalo Atomics was incorporated at the end of 2022 as a response to the need for reliable and economically feasible nuclear energy sources. The company's founding team was largely comprised of engineers and scientists from the MARVEL reactor initiative at Idaho National Laboratory. This experimental project served as a basis for Aalo's technological advancements, primarily focused on developing small-scale nuclear reactor designs. By mid-2023, Aalo Atomics had secured $6.26 million in seed funding, enabling the company to start designing its proprietary Aalo-1 microreactor, which is inspired by INL’s MARVEL technology. Just one year after its inception, the company made substantial progress, including the recruitment of top talents in reactor design and operations.
Company Profile and Achievements
Aalo Atomics has strategically positioned itself in the nuclear energy market by developing the Aalo-1 reactor, a factory-fabricated, 10 MWe sodium-cooled microreactor. This reactor utilizes uranium zirconium hydride (UZrH) fuel elements, which offers distinct advantages in terms of technology scalability and economic viability. The company boasts a methodical approach designed to reduce the risk in executing its projects:
- 2022: Aalo Atomics was incorporated following the promising strides made by the MARVEL reactor team.
- 2023: Secured $6.26 million in seed funding and completed initial reactor design phases.
- 2024: Raised an additional $27 million in Series A funding for scaling operations and manufacturing capabilities.
- Regulatory Milestone: Submitted a Regulatory Engagement Plan to the NRC, a critical step for legalizing the deployment of their reactor technologies.
- Research Collaboration: Awarded GAIN vouchers for advanced modeling and simulation, leading to collaborative investigations with the Department of Energy's facilities.
Current Operations and Market Position
As of 2024, Aalo Atomics operates from its Austin headquarters, which includes a manufacturing facility that produces the components for its microreactors. The company differentiates itself through a factory-based reactor construction model, promising increased predictability in costs and delivery timelines compared to traditional plant constructions. Aalo aims to capture a significant portion of the advanced nuclear energy market, bolstering its competitiveness with partnerships and strategic initiatives like the MOU with Idaho Falls Power. Their market strategy capitalizes on the cost-effective, low-emission power generation capacity of their reactors, targeting not just utility companies but also commercial applications requiring high energy reliability.
Conclusion
Aalo Atomics represents a significant shift towards sustainable and economically viable nuclear energy production. With its proprietary Aalo-1 reactor, the company leverages cutting-edge nuclear technology to meet future energy demands. Aalo's strategic partnerships, innovative technology, and ambitious milestones position it as a future leader in the nuclear industry. The company's trajectory points to a promising future, potentially making it a pivotal player in revolutionizing small-scale and scalable nuclear energy solutions globally.