Antares raised $470 million to build small, factory-made nuclear microreactors. The company plans to deploy these power systems to U.S. military bases and space operations by 2028.

Currently, military installations rely heavily on the commercial power grid, which faces constant strain from high demand, extreme weather, and potential attacks. These nuclear microreactors can help them avoid those vulnerabilities because they’re designed to operate safely and autonomously for more than six years without refueling.

Hitting a Major Deadline

The Mark-0 microreactor; Photo: Antares

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A few weeks ago, the company reached a significant goal at the Idaho National Laboratory. Its Mark-0 reactor went critical right on schedule, hitting the July 4th deadline set by the White House. This marks the first time a private company has done this with a non-light-water reactor in the U.S. in over 40 years.

“Jordan and the Antares team just achieved the first private advanced reactor criticality in decades with a factory built microreactor,” said Alana Palmedo, managing partner at Paradigm, who co-led the funding. “Now they transition to a new era: The scaled deployment of microreactors that can operate reliably, safely, and economically for years on U.S. military bases. Paradigm is thrilled to back this team as they help to restore energy dominance in the U.S.”

Varun Gupta, a partner at Caffeinated Capital, added, “Instead of relying on hype, Antares stands apart in the advanced nuclear space by delivering concrete results, such as winning the race to criticality and securing major customers like the U.S. Air Force. These results are not a product of luck; they are the product of outstanding decisions Jordan and the Antares team have consistently made, including their reactor design, choice of fuel, and focus on the Department of War as a first customer—decisions that ensure both reactor safety and the speed and resiliency of their supply chain.”

The recent funding helps Antares build its Mark-1 electricity-producing reactor by 2027 so it can meet a government deadline to have a reactor operating at a domestic military base by September 2028.