Peter Thiel Joins Board of Enriched Uranium Startup General Matter

After more than a year searching for companies that could produce enriched uranium for the growing nuclear power sector, Scott Nolan, a partner at venture capital firm Founders Fund, decided to build his own.

His new startup, General Matter, has raised $50 million in a funding round led by the firm to make high-assay low-enriched uranium, or HALEU. As part of the deal, Founders Fund partner Peter Thiel is joining the board, an unusual move for the billionaire investor. The Los Angeles-based startup — which has been operating largely under the radar until now — aims to bolster the nation’s nuclear energy industry, and adds to the stable of Founders Fund partners who have started their own companies.