News Summary

Aalo Atomics, a Texas-based nuclear power startup led by Canadian co-founder Matt Loszak, has successfully raised $100 million USD in a Series B funding round. The funding, led by SpaceX investor Valor Equity Partners and with participation from Canada’s Maple VC, will enable Aalo Atomics to construct its first power plant, Aalo-X, which will feature an experimental data center demonstrating the potential of nuclear power for data providers. The startup’s innovative approach includes deploying factory-made, fleet-scale reactors known as Aalo Pods, which aim to reduce costs and expand accessibility to nuclear power for developing countries and other areas. Aalo Atomics promotes the safety of its reactors through the use of a metallic coolant and uranium zirconium hydride (UZrH) fuel, which has an automatic shutdown feature to prevent overheating. The funding marks a significant milestone following Aalo’s previous Series A and seed rounds, positioning the company as a key player in addressing the energy needs of the growing data center industry.