Aalo has announced the successful completion of a $27 million Series A funding round in a significant development for Austin’s burgeoning tech scene. The investment will accelerate the company’s vision of a future where humanity’s growth is untethered from its impact on Earth, focusing on the mass production of small nuclear reactors in gigafactories.

Pioneering Clean Energy with Small Nuclear Reactors

The company aims to make clean energy accessible anywhere, anytime, by developing small nuclear reactors. These reactors, designed to be produced at scale in gigafactories, promise predictable low costs and shortened construction times—key factors in making clean energy a viable and sustainable option for diverse applications worldwide.

Rapid Growth and Significant Milestones

This Series A funding comes just over a year after the company raised $6.26 million in a seed round, underscoring the rapid pace at which it advances its technology and scaling operations. In the past nine months alone, the company has:

  • Expanded its team from 2 to 15, including key hires from the Department of Energy’s (DOE) MARVEL program, executives from major utilities, and leaders from other large energy companies.
  • Completed the conceptual design of the Aalo-1, their first commercial reactor.
  • Signed a siting Memorandum of Understanding (MOU) with the DOE to deploy an experimental Aalo reactor, the Aalo-X, at the Idaho National Laboratory (INL) site in Idaho.
  • Submitted a Regulatory Engagement Plan (REP) to the U.S. Nuclear Regulatory Commission (NRC), with agreement from a potential major customer, to develop a fleet of Aalo-1 reactors.

Looking Ahead: Scaling and Innovation

With the new funding, the company plans to accelerate its progress further. The Series A funds will be used to:

  • Expand the team to 30 by bringing in leadership talent across various domains, including manufacturing, sales, engineering, finance, and product development.
  • The company will open a new Factory HQ in Austin, where it will demonstrate the mass manufacturing of the Aalo-1 reactor.
  • Collaborate with the NRC to continue de-risking the licensing process for the Aalo-1.
  • Develop a non-nuclear prototype, the Aalo-0, to showcase the technology’s economics and manufacturability.
  • Establish a commercial pathway for Aalo Fuel (LEU+ UZrH).

Investor Support and the Path Forward

The company’s ambitious plans are supported by a diverse group of investors, including 50Y, Valor Equity Partners, Harpoon Ventures, Crosscut, SNR, Alumni Ventures, Preston Werner, Earth Venture, Garage Capital, Wayfinder, Jeff Dean, and Nucleation Capital. These investors bring a wide array of expertise and support, driven by the technology’s potential applications—from deep tech and clean baseload energy for data centers to military applications and reliable energy solutions for developing countries.

A New Chapter in Clean Energy

The company’s founders expressed their excitement and gratitude for the backing they’ve received, marking this milestone as the beginning of the next chapter in their journey to usher in a cleaner, more abundant future. As they continue to push the boundaries of what’s possible in clean energy, all eyes will be on Austin as this innovative start-up leads the charge into the Second Atomic Age.