Antares Secures $96 Million in Series B Funding to Advance Microreactor Technology

Los Angeles, CA – Antares, a developer of advanced microreactors, has announced the successful closing of a $96 million Series B funding round. The investment, led by Shine Capital, with participation from Alt Capital, Caffeinated, FiftyThree Stations, and Industrious, comprises $71 million in equity and $25 million in debt financing. This significant capital injection is aimed at accelerating the development and deployment of Antares' R1 microreactor, designed for mission-critical applications across terrestrial, maritime, and space environments.

Chad Byers, a key figure associated with Antares, highlighted the vast potential of the energy sector, stating in a recent tweet, "There are only a few bottomless markets, but energy is one of them." He further emphasized the company's focus, adding, "Antares is building microreactors to power mission-critical applications." Byers also acknowledged the early support from Susa Ventures, noting, "special thanks to my partner @pratyushbuddiga for getting Susa involved as the pre-seed lead."

Antares' R1 microreactor is engineered to produce between 100 kilowatts and 1 megawatt of electricity, utilizing TRISO fuel for enhanced safety and efficiency. The company plans to demonstrate its first reactor by 2026, aiming for a full-power, electricity-producing prototype in 2027. This rapid timeline aligns with the Department of Energy's reactor pilot program, in which Antares is one of 11 participants, with a goal to have at least three reactors operational by July 4, 2026.

The company's technology is poised to address critical energy needs for defense, commercial, and space sectors. Antares has secured contracts with the U.S. Air Force, Space Force, and the Defense Innovation Unit (DIU), underscoring its role in national security initiatives. Furthermore, Antares intends to bid on NASA's Fission Surface Power program, which aims to establish a 100 kWe nuclear power source on the lunar surface by 2030 to support a sustained human presence.

The microreactor market is experiencing a surge in interest, driven by increasing energy demands from advanced technologies like AI and the need for resilient power solutions. Antares, with over $130 million in total funding to date, is expanding its operations, including a 145,000-square-foot facility in Torrance, California, capable of producing 10 units per year. This latest funding round positions Antares to become a significant player in the evolving nuclear energy landscape.