California startup Antares Nuclear Inc. raised $470 million to advance plans to build small reactors aimed at supplying power to US military bases. Venture capital firms Paradigm and Caffeinated Capital co-lead the financing round, which comprised $370 million in equity and $100 million in debt, Antares said in a statement Monday. The investment is expected to help the company deploy its first systems to US military installations by 2028. Antares is developing reactors with no more than 1 megawatt of capacity, far smaller than conventional nuclear plants with typically 1 gigawatt of capacity and feed power to grids. Several startups are developing microreactors that are typically smaller than 20 megawatts. They’re designed to be mass-produced in factories and delivered to supply power for bases, remote communities or industrial sites.

Full report : Antares, which is developing reactors with 1 MW of capacity for US military bases, raised $370 million in equity and $100 million in debt co-led by Paradigm and Caffeinated.

For more see the OODA Company Profile on Antares Industries.