Christopher Helman of Forbes reports on Last Energy, a modular nuclear energy startup.
- Last Energy packs and delivers its microreactors in shipping containers to ensure efficient delivery.
- Once on site, the reactor core is placed underground and fans and steam turbines replace cooling towers.
- Last Energy is lowering upfront capital costs by using wind and solar’s finance model; the company will own and operate the SMRs and secure financing through long-term power purchasing contracts from third parties.
- Due to the United States’ strict regulations, Last Energy will test its technology overseas in Poland which has already agreed to purchase 10 of the company’s units.
“Kugelmass aims to build 10,000 of these mini-reactors worldwide, which sounds fantastical for a nuclear industry newbie who has so far raised just $24 million in venture capital. It’s smart money, though: $21 million came in a round led by Austin, Texas-based Gigafund, whose managing partner, Luke Nosek, was the first VC investor to back Elon Musk’s SpaceX.”
Read the full article here.
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