Radiant Industries, Incorporated, a frontrunner in advanced nuclear technology, has announced the successful completion of a $100 million Series C funding round, led by the prominent deep tech venture capital firm DCVC. Notable participants in this round included a16z’s American Dynamism team, which had previously led the Series B funding, alongside Union Square Ventures. The round also welcomed new investors such as Felicis, Washington Harbour Partners LP, and Chevron Technology Ventures. This investment follows Radiant’s recent passive cooldown demonstration, a pivotal test involving a full-scale, non-fueled reactor, bringing the company’s total venture funding to $160 million.
This funding marks a significant milestone in Radiant’s ambition to launch one of the world’s first factory-constructed microreactors. The company is making strides through the U.S. Department of Energy’s microreactor experiment design process and is set to deliver its Kaleidos Development Unit prototype microreactor to the Idaho National Laboratory’s (INL) DOME facility for testing in 2026, paving the way for a new era in the advanced nuclear industry.
“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. Radiant’s success over the next two years will not only benefit our customers but will be a win for advanced reactor developers and the industry as a whole. New nuclear is around the corner, and it’s arriving on a semi-truck.”
The funding will mainly be allocated to the completion of Radiant’s Kaleidos Development Unit, which features the same reactor design that will be manufactured and sold to customers. At the Idaho National Laboratory (INL), this unit will undergo an extensive testing program that includes thorough assessments of the reactor’s failsafe mechanisms and its cutting-edge semi-automated control system. These tests will provide important validation cases necessary for regulatory analyses. Additionally, the funds will support factory siting and initial construction efforts, allowing us to break ground on facilities that are anticipated to produce up to 50 microreactors annually.
“Radiant is developing a product that brings clean, reliable, affordable energy to locations that couldn’t access it otherwise,” said Rachel Slaybaugh, partner at DCVC and Radiant board member. “Radiant has hit their major milestones on an impressive development timeline, giving them a leg up on commercialization, which is why we were so excited to lead this round and support Doug and the Radiant team.”
“Radiant is developing technology with the potential to provide reliable and lower carbon energy to remote, off-grid locations, among other areas. This solution can circumvent grid connection challenges and provide uninterrupted, lower carbon intensity power for long periods,” said Jim Gable, Vice President of Innovation within Chevron’s Technical Center and President of Technology Ventures at Chevron. “This is the latest investment from our $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization and the growing circular economy. We welcome Radiant to the portfolio.”
Radiant’s Kaleidos microreactor is a groundbreaking 1MW nuclear power plant that fits conveniently in a box. Designed to replace diesel generators, it offers reliable power for military bases, remote industries, data centers, EV charging stations, and more. This innovative solution can be transported by land, sea, or air and set up within just a few days. By delivering portable, dependable, and eco-friendly nuclear energy, Kaleidos marks a significant leap forward in global energy production.
