Radiant Secures $100 Million in Series C Funding, Plans Milestone Test at INL’s DOME Facility
Summary
Investment Will Aid Development of One of the Worlds First Commercial MicroreactorsRadiant Industries, Incorporated, a leader in advanced nuclear technology, today announced a $100 million Series C funding round led by DCVC, a preeminent deep tech venture capital firm. This investment comes on the heels of Radiants passive cooldown demonstration, a critical test of a full-scale, non-fueled reactor, and brings the companys total venture funding to $160 million.The funding round marks an important step towards Radiants goal of bringing one of the worlds first factory-constructed microreactors to market. New nuclear is around the corner, and its arriving on a semi-truck.The funding will primarily be used to complete Radiants Kaleidos Development Unit, the same reactor design that will be manufactured and sold to customers. At INL, the unit will undergo a comprehensive testing program including rigorous evaluations of the reactors failsafe mechanisms and proprietary semi-automated control system, providing validation cases for regulatory analyses. Funds will also be used for factory siting and early construction efforts, breaking ground on the facilities that are expected to produce up to 50 microreactors per year.Radiant is developing a product that brings clean, reliable, affordable energy to locations that couldnt access it otherwise, said Rachel Slaybaugh, partner at DCVC and Radiant board member.