Nuclear startup Valar Atomics raises $130 million

Advanced nuclear reactor developer Valar Atomics raised $130 million in its latest funding round with backing from Anduril Industries founder Palmer Luckey and Palantir Chief Technology Officer Shyam Sankar, the startup said Monday.

The fundraising was led by venture capital firms Snowpoint Ventures, Day One Ventures and Dream Ventures. Lockheed Martin board member and former AT&T executive John Donovan also participated. Valar’s total fundraising now totals more than $150 million, according to the company.

Doug Philippone, co-founder of Snowpoint and former head of global defense at Palantir, will also join Valar’s board of directors.

Valar is one of several nuclear startups that hopes to benefit from President Trump’s push to deploy new reactor technology in the U.S. by cutting regulations and accelerating approvals.

Based outside Los Angeles, Valar is one of several reactor developers and states that are suing the Nuclear Regulatory Commission over its licensing process for small reactor designs. The parties to the suit are seeking a resolution with the NRC in the wake of Trump’s executive order that would overhaul the regulator. The case has been temporarily paused due to the government shutdown.

Pilot program

The Department of Energy in August selected Valar and other developers to participate in a pilot program that aims to deploy at least three advanced test reactors by July 2026.

Valar is developing reactor technology that would use helium as a coolant and operate at much higher temperatures than traditional plants, according to the company. Its business plan calls for the deployment of hundreds of small reactors at a single site.

Valar broke ground on a site for a test reactor in September at the Utah San Rafael Energy Lab, a unit of the Utah Office of Energy Development.