Aalo Atomics Secures $100M to Build First-of-Its-Kind Advanced Nuclear Reactor

Austin-based Aalo Atomics has raised $100 million in Series B funding and secured key regulatory support to complete construction of its 10-MWe Aalo-X reactor at Idaho National Laboratory (INL), with a target to achieve cold criticality by July 2026.

The milestone makes Aalo a leading contender to deliver the first operational advanced nuclear reactor in the U.S. in decades.

The funding round was led by Valor Equity Partners and included major investors such as Hitachi Ventures, NRG, and Fine Structure Ventures. Aalo’s total capital now exceeds $136 million, following earlier seed and Series A rounds.

The company’s inclusion in the Department of Energy’s (DOE) new Nuclear Reactor Pilot Program positions it at the forefront of federal efforts to accelerate clean energy innovation.

“This is not just a test reactor, but a full plant that will produce electricity,” said Aalo CEO and co-founder Matt Loszak in an interview with POWER magazine. “This could be the first advanced nuclear power plant to turn on in the U.S. in decades.”

In addition to completing the reactor, Aalo plans to site an experimental data center adjacent to the facility. If completed, it would be the first co-built nuclear-powered data center, offering a potential model for powering artificial intelligence operations with clean, reliable energy.

Loszak confirmed that he is actively discussing with interested companies, though he did not disclose specific partners.

The Aalo-X project’s tight timeline reflects the DOE’s push for rapid deployment of new nuclear technologies. The co-location of nuclear and AI infrastructure could demonstrate new efficiencies and use cases for future energy-intensive computing.