Antares Nuclear, a small‑modular‑reactor startup, secured $470 million in a Series C to support the construction of reactors for U.S. military bases, driven by data‑center power demand.
Antares Nuclear has closed a $470 million Series C financing round to accelerate the development of its small‑modular reactors (SMRs) for U.S. military installations.
Funding round details
The round was led by a consortium of venture capital firms and strategic investors, including Bessemer Venture Partners and Lockheed Martin Ventures. Existing backers such as Citadel Securities also participated, bringing the total capital raised to $470 million.
Why the military is interested
The Department of Defense has identified a growing need for reliable, off‑grid power at forward operating bases and remote installations. SMRs promise a compact, low‑emission energy source that can operate continuously without the logistical challenges of fuel convoys.
Antares’ reactors are designed to be factory‑fabricated and shipped in modules, reducing on‑site construction time and enabling rapid deployment to sites with limited infrastructure.
Market drivers beyond defense
In parallel with military demand, the company cites rising power consumption from data centers located near bases. These facilities require high‑density, resilient electricity, making SMRs an attractive option for both defense and commercial customers.
- Reduced reliance on diesel generators
- Lower carbon footprint compared with fossil fuels
- Scalable power output from 10 MW to 100 MW
Next steps for Antares
The fresh capital will fund the engineering design of the first two reactor units, secure necessary licensing from the Nuclear Regulatory Commission, and begin site‑selection studies at several Army bases.
Antares aims to have a prototype operational by 2029, positioning itself as a key supplier of clean, reliable power for national security missions.