Overview
- The financing is led by the Astera Institute with participation from AE Ventures, Galaxy Fund, Gigafund, JAM Fund, The Haskell Company, Ultranative, and Woori Technology.
- Last Energy says the round fully funds a 5 megawatt pilot at a site leased from Texas A&M that it aims to switch on next year.
- Commercial 20 megawatt units are targeted to enter production in 2028, following validation of the pilot.
- Each reactor core is permanently sealed within roughly 1,000 tons of steel, arrives pre-fueled for about six years, transfers heat through the steel to external water pipes, and remains on site at end-of-life as its own waste cask.
- The design modernizes a U.S. pressurized-water concept used on the NS Savannah and emphasizes standardized, off-the-shelf components to speed manufacturing and reduce costs.