As the US pushes to rebuild its nuclear fuel supply chain, one of the biggest gaps has been access to advanced fuel that can support next-generation reactors. Producing that fuel at scale has remained a major bottleneck for the industry.
Tennessee-based Standard Nuclear says it is starting to address that gap. The company has begun production of advanced HALEU TRISO fuel and has raised $140 million in a Series A funding round to expand its manufacturing footprint.
The round was led by Decisive Point, with new backing from Chevron Technology Ventures, StepStone Group, and XTX Ventures. Existing investors, including Andreessen Horowitz, Welara, Fundomo, Washington Harbour Partners, and Crucible Capital, also took part.
“This successful Series A raise ensures we have the capital required to fully execute on our expansion and growth strategy across various products and services based on our technical manufacturing capabilities and industry-leading fuel production expertise. With this funding, we are positioned to accelerate our roadmap, scale operations, and deliver on the promise to fuel the next generation of reactors powering industry, defence, and space,” says Kurt Terrani, Chief Executive Officer of Standard Nuclear.
Expanding fuel development and fabrication infrastructure
Led by Kurt Terrani, Standard Nuclear is dedicated to providing essential components for nuclear power and delivering safe, cost-effective energy globally.
As the only independent U.S. manufacturer of TRISO fuel, a crucial type of fuel for both Earth-based and space nuclear reactors, the company specialises in the large-scale production of advanced nuclear fuels and radioisotope power systems.
By offering dependable energy solutions, Standard Nuclear reduces America’s reliance on foreign sources for important technologies, serving both the nuclear industry and defence sectors.
In its first year of operations, Standard Nuclear has already hit several key milestones. It was selected as a supplier for the US Department of Energy’s Fuel Line Pilot Program, signed a first-of-its-kind agreement with the DOE to transition its regulatory jurisdiction, and formed a joint venture with Framatome to supply commercial-grade TRISO fuel and advanced reactor products.
Earlier this year, the company also became the first to receive authorisation from the US Department of Energy and physically receive HALEU fuel for the production of advanced TRISO fuel for Radiant Industries.
What’s next?
The fresh capital will be used to build out new fuel development and fabrication infrastructure beyond its current commercial-scale TRISO production line, which has so far been privately funded.
The company also plans to scale annual TRISO fuel production to more than two metric tons by mid-2026, spread across multiple strategically located sites. This will be done using proven infrastructure and a team with experience in delivering high-quality nuclear manufacturing at speed.
“Standard Nuclear has successfully achieved numerous pivotal strategic and commercial objectives since our founding one year ago, leading to the remarkable occasion today as we begin producing HALEU TRISO,” says Kurt Terrani, Chief Executive Officer of Standard Nuclear.
