Aalo Atomics, a Texas, US-based company specialising in modular nuclear technology to power AI data centres, has raised $100m in Series B funding.
The funding was led by Valor Equity Partners, with participation from new and existing investors including Fine Structure Ventures, Hitachi Ventures and NRG Energy.
This brings Aalo's total funding to more than $136m since its inception in 2023.
The company plans to utilise the new funds to double its workforce from 60 to 120 within one year.
Aalo aims to attract top engineering and manufacturing talent, enhancing its capabilities in nuclear technology.
Its executive team has recently been strengthened by new members with expertise in public policy, regulatory affairs and nuclear technology.
Aalo's flagship product, the Aalo Pod, is a 50-megawatt electrical (MWe) extra modular nuclear reactor (XMR) power plant designed for data centres. Each Aalo Pod contains five Aalo-1 reactors, which are fully modular and can scale to gigawatts. The reactors are sodium-cooled, use low-enriched uranium fuel and do not need external water sources. the Aalo Pod’s small physical footprint makes on-site co-location with data centres easy.
The company has achieved several milestones, including selection by the Department of Energy to test the Aalo-X experimental XMR power plant at Idaho National Laboratory. The target for criticality is set for 4 July 2026. Aalo has also completed a conceptual design review for Aalo-X and unveiled a 40,000 ft² manufacturing plant in Austin, Texas.
Valor Equity Partners founder and CEO Antonio Gracias stated: “AI is expected to require triple-digit increases in the power supply in the coming months and years, creating both a complex problem for US industry and a significant commercial opportunity for the companies that can solve it.”
Aalo Atomics co-founder and CEO Matt Loszak stated: “Our unique approach of mass manufacturing modular nuclear plants, combined with our commitment to both safety and scaleability, positions us at the forefront of this movement and ensures we are ready to meet this imminent market need at record speed.”
Aalo has also been selected as one of four partners to develop up to 1GW of nuclear energy generation capacity at the Texas A&M University System RELLIS Campus. The company has purchased land in Texas for a non-nuclear prototype to test its design elements, including sodium coolant, with construction underway.
