Aalo secures $100 million in Series B funding

Aalo will use this funding to pursue its accelerated goal to begin construction on its small modular reactor this month and achieve operational status by July 4, 2026.

The plans: Aalo’s tight deadline was set by one of four executive orders signed by President Trump in May, “Reforming Nuclear Reactor Testing at the DOE,” which requires participants in the pilot program to reach criticality within a year.

The company’s work centers around Aalo-1, a 10-MWe sodium-cooled reactor. Aalo and the DOE previously announced that they would build an experimental reactor at Idaho National Laboratory in order to help license and commercialize Aalo-1. In 2024, the company submitted a regulatory engagement plan to the NRC for the reactor, with plans to submit a full license application in 2026.

Now, the focus has expanded to include getting the company’s new flagship product, the Aalo Pod (a 50-MWe power plant containing five Aalo-1s), up and running by next year. The pod is “purpose-built for data centers,” and, naturally, the company plans to co-locate the first pod with “an experimental data center,” according to a LinkedIn post from Aalo Atomics CEO and cofounder Matt Loszak.

Despite the company’s ambitious plan to start construction this month, Aalo has to announce siting plans. Currently, all that is known by the public is that the Nuclear Reactor Pilot Program specifies that the new reactors will be built outside national laboratory boundaries.

More details: Aalo has now raised more than $136 million in total funding. This most recent round of funding was led by Valor Equity Partners and included Fine Structure Ventures, Hitachi Ventures, NRG Energy, Vamos Ventures, Tishman Speyer, Kindred Ventures, 50Y, Harpoon Ventures, Crescent Enterprises, Crosscut, Alumni Ventures, MCJ, Gaingels, and Nucleation Capital, among others.

In a press release, Aalo stated that it plans to first use its new funding to double its staff from “roughly 60 employees to over 120 in the next year, with a focus on acquiring premium engineering and manufacturing talent.” The company currently operates a 40,000 square foot manufacturing plant in Austin, Texas.

Quotable: “The world’s leading technology companies, as well as state and federal governments, see nuclear energy as a crucial component to powering the AI data centers of the future,” said Loszak. “Our unique approach of mass manufacturing modular nuclear plants, combined with our commitment to both safety and scalability, positions us at the forefront of this movement and ensures we are ready to meet this imminent market need at record speed.”