Orrick, Herrington & Sutcliffe LLP
11/27/2024 | Press release | Distributed by Public on 11/27/2024 09:07
Radiant Industries Raises $100 Million in Series C Round
Radiant Industries, Inc., a leader in advanced nuclear technology, has raised $100 million in Series C funding.
Orrick represented Radiant Industries.
The investment will help Radiant complete its Kaleidos Development Unit. That prototype microreactor is on track for tests at Idaho National Laboratory's DOME facility in 2026.
DCVC, a preeminent deep tech venture capital firm, led the round, an important step towards Radiant's goal of bringing to market one of the world's first factory-constructed microreactors.
THE COMPANY
Radiant is a clean energy startup building a nuclear microreactor. An alternative to diesel generators, Radiant's Kaleidos 1 MW microreactor will be the world's first portable, zero-emissions power source that works anywhere. The company's goal is to test a development reactor by 2026. If successful, it will be the first new commercial reactor design to achieve a fueled test in over 50 years.
THE IMPACT
The investments will enable Radiant develop and test its Kaleidos microreactor.
"Our major safety test is complete and nuclear materials are on order for fueled test readiness in 2026," said Doug Bernauer, CEO and co-founder of Radiant.
"We now have the staff, hardware, and runway to deliver at the DOME, and with production commitments of more than 10 reactors through 2030, we need to move as quickly as possible."
THE TEAM
Orrick's Josh Pollick and Montana Ware led the team that advised Radiant Industries. The team also included Laura Lariu, David Benhamou and Kelsey Repka.