Antares raises $470M for nuclear microreactors; Mark-0 hits criticality for DOD 2028 deployment
Antares, a Torrance-based nuclear fission startup founded in 2023, raised $470 million in Series C funding ($370M equity, $100M debt) co-led by Paradigm and Caffeinated Capital to accelerate factory-built microreactor deployment for U.S. military and space missions. The round comes weeks after Antares' Mark-0 reactor achieved initial criticality at Idaho National Laboratory in June 2026—the first privately developed non-light-water reactor to reach criticality in the U.S. in 40+ years.
Antares designs autonomous nuclear microreactors (100 kW to 1 MW output) engineered for sustained multiyear operation without refueling, targeting forward military bases and remote infrastructure. The Mark-0 validated core physics and reactivity control; the Mark-1, scheduled for 2027, will produce electricity. Initial deployments to U.S. military installations are targeted for 2028, aligned with Executive Order 14299's mandate. The startup now has $600M+ in total funding and operates across California, Idaho, and South Carolina with backing from defense-focused strategic investors.
For defense/energy architects: this capitalizes on confluence of three drivers: (1) Pentagon's resilient-energy vulnerability (diesel supply chains in contested theaters can cost $30–$400/gallon when logistics factored in), (2) AI data center power demand pushing nuclear modernization, (3) DOE Reactor Pilot Program accelerating advanced reactor commercialization. Antares competes with Oklo and Radiant for initial DoD contracts. Valuation and revenue timeline not disclosed, but the debt/equity structure and executive hiring (new CNO from DOE) suggest a transition from R&D to revenue within 18–24 months. Regulatory and supply-chain risk (HALEU fuel availability) remain material.
Sources
- Primary source
- businesswire.com
“raised $470 million in Series C funding, co-led by Paradigm and Caffeinated Capital”
- techcrunch.com
“first private company to bring an advanced reactor to criticality under the DOE Reactor Pilot Program”
- beststartup.us
“Each gallon of diesel to a forward base in a contested theatre costs an estimated $30–$400 when logistics and security are included”