Standard Nuclear raises $140M as nuclear power enters gold rush era

As the nuclear power gold rush enters full swing – spurred by AI companies desperate need for electricity – sellers “pick and shovels” also start to cash in.

By the end of 2025, the start of nuclear has raised $1.1 billionall for small modular reactors. The current deal flow extends beyond critical suppliers in the nuclear industry. and Standard nuclearwhich makes nuclear fuel to feed the reactor, is one of them.

The company said it has raised $140 million in a Series A round led by Decisive Point with participation from Andreessen Horowitz, Chevron Technology Ventures, Crucible Capital, Fundomo, StepStone Group, Washington Harbor Partners, Welara, and XTX Ventures.

The round ended in two tranches of $70 million each after Standard Nuclear reached a milestone earlier than expected following President Donald Trump’s nuclear-related executive order last year, a company spokesperson told TechCrunch.

The new round comes seven months after Standard Nuclear out of “stealth” with $ 42 million in funding. Air quotes are required here; Standard Nuclear was built on the ashes of the Ultra Safe Nuclear Corporation (USNC), which went bankrupt in October 2024. The bankrupt company has been trying to commercialize a nuclear fuel called TRi-structural ISOtropic particle fuel, or TRISO, for years. Decisive Point founder Thomas Hendrix bought USNC’s fuel-related assets at a bankruptcy auction for $28 million.

TRISO fuel was originally conceptualized in the 1950s. Uranium particles about the size of poppy seeds are coated with ceramic and carbon. That is then packed into a larger ball. Overall, the fuel pellet design should be more resistant to melting.

TRISO is not used much nowadays. However, many nuclear startups say they will use TRISO in their reactors. Standard Nuclear has said it has $100 million in non-binding sales for 2027. Its customers include Radiant Energy, another Decisive Point portfolio company, and Nano Nuclear Energy, which bought USNC reactor assets.

Nuclear standard year experience can lead. But if the nuclear startups can’t deliver as many reactors as they’ve promised – they’ll all face it. steep challenges in manufacturing scaling – Standard nukes can, like before, find themselves too far away from the puck.