Nuclear Startup Raises $140 Million to Boost Uranium Fuel Supply

Standard Nuclear Inc., a uranium startup, raised $140 million to boost production of fuel for advanced reactors in an effort to expand the US energy supply chain amid surging interest in fission power.

The Series A round was led by Decisive Point and included new investors Chevron Technology Ventures and StepStone Group, as well as existing backers Andreessen Horowitz, according to a statement Monday. The Tennessee-based company began fabricating so-called Triso fuel this month using a more potent form of uranium called HALEU, and plans to use the funding to start production at two additional facilities.