Antares raised $470 million to develop microreactors for military bases.
Why it matters: The financing gives Antares more room to advance a defense-focused reactor program. It also adds another data point for military interest in compact on-site power systems.
- TechCrunch reported the Series C closed at $470 million, with $370 million in equity and $100 million in debt.
- Paradigm and Caffeinated Capital led the round, with Industrious Ventures, Point72 Ventures and Shine Capital participating.
- Antares says its small modular reactor is designed to produce 100 kilowatts to 1 megawatt of electricity.
- The Air Force and Defense Innovation Unit picked Antares as one of three finalists for the Advanced Nuclear Power for Installations initiative, and Joint Base San Antonio was named as the candidate site.
Antares Nuclear has raised $470 million in fresh financing as it pushes a compact reactor program toward military deployment, according to TechCrunch.
The deal includes $370 million in equity and $100 million in debt. Paradigm and Caffeinated Capital led the round, with participation from Industrious Ventures, Point72 Ventures and Shine Capital.
Antares says its reactor is designed to generate between 100 kilowatts and 1 megawatt of electricity. The company told TechCrunch it is targeting first electricity production next year and military deployments in 2028.
The Air Force and Defense Innovation Unit selected Antares as one of three finalists for the Advanced Nuclear Power for Installations initiative, according to a Department of the Air Force release. The service later identified Joint Base San Antonio as the candidate site paired with Antares. JBSA said it was selected as a candidate site to host a next-generation energy project with Antares to deploy a microreactor on the installation.
On June 4, 2026, Antares' Mark-0 demonstration reactor reached initial criticality at Idaho National Laboratory, according to the Department of Energy.
By the numbers
- $470 million - total Series C financing reported by TechCrunch
- $370 million - equity portion of the round
- $100 million - debt portion of the round
Yes, but: Antares' next milestones are company targets, not confirmed delivery dates.
What's next: Antares says it is targeting first electricity production next year and military deployments in 2028.