Eric Wesoff of Canary Media reports on Last Energy, a microreactor company.
- Last Energy, a Washington D.C.-based startup, has raised $40 million in Series B funding to develop and deploy small 20MW nuclear reactors, aiming to mass-manufacture and install them within 24 months.
- The company plans to build, own, and operate its microreactors at customer sites, selling electricity through long-term power-purchase contracts, with a focus on serving data centers and heavy industry.
- Last Energy is part of a growing trend of investment in nuclear energy, particularly in small modular reactors (SMRs), but faces challenges in regulatory approval and proving the economic viability of its approach, with its first reactor potentially coming online in Europe as soon as 2026.
“The startup aims to eventually deploy thousands of its modular microreactors, though to date it has not brought any online. The first reactor might appear in Europe as soon as 2026, assuming Last Energy manages to meet its extremely aggressive construction, financial, and regulatory timelines — not a common occurrence in the nuclear industry. Venture capital heavyweight Gigafund led the round, which closed early this year but was revealed only today. The startup has raised a total of $64 million since its 2019 founding.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
