Aalo Atomics Secures $27M for Nuclear Reactor Development

Nuclear energy startup Aalo Atomics has successfully raised $27 million in a Series A funding round aimed at scaling the development of small modular reactors (SMR) in factories. The funding round highlights the growing demand for cleaner energy solutions. Aalo has made significant strides in the nuclear sector, having recently completed the initial concept design of their reactor. They have also signed a Siting Memorandum of Understanding (MOU) with the Department of Energy (DOE), marking a significant step towards the deployment of their technology. Aalo is led by a team known for designing the first new reactor approved for construction by the DOE in decades.