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Antares Raises $96 Million to Accelerate TRISO Microreactor Toward 2026 Test

The raise underwrites Antares’ move from design work to a DOE-supported demonstration program.

An artist's illustration of Antares' microreactor technology.
Image

Overview

  • The Series B totals $96 million, including $71 million in equity led by Shine Capital and $25 million in debt, with participation from Alt Capital, Caffeinated, FiftyThree Stations and Industrious.
  • Funds will build out a Torrance, California factory targeted to produce about 10 units per year and cover equipment purchases and uranium fuel procurement.
  • Antares plans a Mark-0 reactor demonstration at Idaho National Laboratory next year to validate control systems and models ahead of a full-power Mark-1 prototype in 2027.
  • The R1 microreactor is designed for 100 kilowatts to 1 megawatt of electricity using TRISO fuel, and the company has a DOE allocation of HALEU feedstock.
  • The DOE pilot program participant reports work with the U.S. Air Force, Space Force, DIU and NASA, including an electrically heated test at Marshall Space Flight Center and interest in NASA’s lunar Fission Surface Power effort.