Applied Atomics raises $8.3 million for industrial nuclear projects

Applied Atomics announced an oversubscribed seed round of more than $8.3 million on 13 April. The Los Angeles company says it is developing 100-megawatt to one-gigawatt nuclear plants for industrial campuses, combining reactor systems, plant design, supply-chain management and long-term operations. It plans to sell power under long-term agreements and use the financing to build test and integration equipment and expand delivery teams.

The company said it was discussing sites and power agreements with early customers, while testing plant-control logic and safety responses on a digital-twin platform. Over the following year, it planned to finalise initial host sites, activate engineering test stands and pursue engagement under the NRC Part 50 licensing pathway. These are company-stated plans and early validation work; the announcement does not say that a plant has been licensed, built or begun generating power.