Latest news with #nucleartechnology
Zawya
11 hours ago
- Business
- Zawya
CE-Ventures invests in $100mln funding round for US nuclear technology company
SHARJAH: CE-Ventures, the corporate venture capital platform of Crescent Enterprises, today announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics. Aalo's fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others. Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. The successful completion of its Series B funding will support Aalo in building its first nuclear power plant, for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how its mass-manufactured modular reactors can provide the most effective solution to powering AI data centres. This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the United States looks to advance next-generation nuclear and meet the rising energy demands of the AI era. 'We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age,' said Sudarshan Pareek, Senior Vice President at CE-Ventures. 'The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies.' CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure. Its parent entities, Crescent Enterprises and Crescent Group, have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure. Matt Loszak, CEO, Aalo Atomics commented, 'We are beyond excited to announce Aalo's $100M Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on *next summer*. This could be the first advanced nuclear power plant to achieve criticality in the US in decades. The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential.' The US Department of Energy's Reactor Pilot Programme, for which Aalo Atomics has been selected, was launched in June 2025 to accelerate the testing of advanced nuclear technologies and reflects growing global interest in modular nuclear reactors as a safe, scalable, and sustainable solution to growing energy demand. Aalo is planning to put an experimental data centre next to its test plant to create a first-of-its-kind demonstration of DOE-authorised reactors directly powering AI infrastructure. With the International Energy Agency projecting that global electricity demand from AI-optimised data centres will more than quadruple by 2030, new-generation nuclear technologies are positioning as a clean energy solution to enable positive global growth.
Arabian Business
13 hours ago
- Business
- Arabian Business
CE-Ventures backs $100m nuclear startup for AI power
CE-Ventures, the corporate venture capital arm of Crescent Enterprises, has announced its participation in the $100m Series B funding round for US-based nuclear technology company Aalo Atomics, which is developing advanced modular nuclear reactors to power the next generation of AI data centres. The round was led by Valor Equity Partners with participation from CE-Ventures, Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures, and others. Founded in 2022, Aalo Atomics has already achieved rapid progress and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. CE-Ventures backs nuclear startup The Series B funding will support the company in building its first nuclear power plant, with the goal of reaching zero-power criticality by July 2026 — a major step towards proving how mass-manufactured modular reactors can deliver reliable, scalable, clean power. This milestone comes as the US accelerates next-generation nuclear development to meet the surging energy demands of the AI era. Sudarshan Pareek, Senior Vice President at CE-Ventures, said: 'We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age. 'The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions'. CE-Ventures' global portfolio includes strategic investments across frontier technologies, including AI and infrastructure ecosystems, building on Crescent Enterprises and Crescent Group's legacy in technology, energy, and UAE-US infrastructure partnerships. Matt Loszak, CEO of Aalo Atomics, said: 'We are beyond excited to announce Aalo's $100m Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on next summer. 'This could be the first advanced nuclear power plant to achieve criticality in the US in decades. The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential.' The DOE's Reactor Pilot Programme, launched in June 2025, aims to accelerate testing of advanced nuclear technologies. Aalo Atomics has been selected under the programme to build its demonstration plant, where it plans to install an experimental data centre — showcasing first-of-its-kind reactors directly powering AI infrastructure. With the International Energy Agency (IEA) projecting that electricity demand from AI-optimised data centres will more than quadruple by 2030, Aalo's approach highlights how next-generation nuclear energy could be the clean solution to powering the AI-driven economy.
Zawya
21 hours ago
- Business
- Zawya
UAE group invests in $100mln funding round for US nuclear tech company
CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics. Aalo's fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others. Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. The successful completion of its Series B funding will support Aalo in building its first nuclear power plant for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how their mass-manufactured modular reactors can provide the most effective solution to powering AI data centres. This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the US looks to advance next-generation nuclear and meet the rising energy demands of the AI era. Sudarshan Pareek, Senior Vice President at CE-Ventures, said: "We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age." "The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies," he stated. CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure. Its parent entities - Crescent Enterprises and Crescent Group - have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure. Matt Loszak, CEO, Aalo Atomics said: "We are beyond excited to announce Aalo's $100 million Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on next summer. This could be the first advanced nuclear power plant to achieve criticality in the US in decades." "The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Wamda
a day ago
- Business
- Wamda
CE-Ventures backs $100 million round in US-based Aalo Atomics
UAE-based CE-Ventures, the corporate VC arm of Crescent Enterprises, has joined the $100 million Series B of US-based Aalo Atomics, a next-generation nuclear technology company. The funding will support Aalo's first modular nuclear power plant, aiming for zero-power criticality by July 2026 to supply energy to AI-optimized data centres. The agreement underscores CE-Ventures' ongoing emphasis on cutting-edge technologies, given the projected quadrupling of global electricity demand from AI-driven data centres by 2030. Press release: CE-Ventures, the corporate venture capital platform of Crescent Enterprises, today announced its participation in the $100 million Series B funding round for leading US nuclear technology company Aalo Atomics. Aalo's fundraise was led by Valor Equity Partners with participation from CE-Ventures alongside Fine Structure Ventures, Hitachi Ventures, Crosscut Ventures and others. Aalo has experienced significant momentum since its incorporation in 2022 and was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. The successful completion of its Series B funding will support Aalo in building its first nuclear power plant for which it is aiming to reach zero-power criticality by July 2026, an important step towards demonstrating how their mass-manufactured modular reactors can provide the most effective solution to powering AI data centres. This process of expedited technology demonstration is set to significantly de-risk and accelerate commercial readiness as the United States looks to advance next-generation nuclear and meet the rising energy demands of the AI era. 'We are at a pivotal moment for advanced nuclear technology, and we view Aalo Atomics as a true leader in this new atomic age,' said Sudarshan Pareek, Senior Vice President at CE-Ventures. 'The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions. At CE-Ventures, we take pride in our long-standing track record of investing in pioneering companies. With this latest capital deployment, we are strengthening our position as a global partner of choice for entrepreneurs building frontier technologies.' CE-Ventures has built a diverse global portfolio of strategic investments in early- to late-stage high-growth companies and select venture funds, including long-standing positions in frontier technologies such as AI and its ecosystem infrastructure. Its parent entities, Crescent Enterprises and Crescent Group, have a strong legacy of unlocking impactful capital and championing responsible growth opportunities across technology, energy, and UAE-US infrastructure. Matt Loszak, CEO, Aalo Atomics, commented, 'We are beyond excited to announce Aalo's $100M Series B. We now have the capital to build our first nuclear power plant, the Aalo-X, which we're aiming to turn on *next summer*. This could be the first advanced nuclear power plant to achieve criticality in the US in decades. The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfil its potential.' The US Department of Energy's Reactor Pilot Program, for which Aalo Atomics has been selected, was launched in June 2025 to accelerate the testing of advanced nuclear technologies and reflects growing global interest in modular nuclear reactors as a safe, scalable, and sustainable solution to growing energy demand. Aalo is planning to put an experimental data centre next to its test plant to create a first-of-its-kind demonstration of DOE-authorised reactors directly powering AI infrastructure. With the International Energy Agency projecting that global electricity demand from AI-optimised data centres will more than quadruple by 2030, new-generation nuclear technologies are positioning themselves as a clean energy solution to enable positive global growth.
Bloomberg
08-08-2025
- Business
- Bloomberg
Uranium Exporter Namibia Bids to Join Nuclear Suppliers Group
Namibia has approved the country's bid to join the Nuclear Suppliers Group, a global body that develops rules on the export of nuclear technology and materials to prevent its use in weapons. The Ministry of International Relations and Trade will lead the application process and set up an inter-ministerial committee to implement NSG guidelines, according to a cabinet statement. A delegation will lobby the International Atomic Energy Agency and the NSG chairperson on the sidelines of the IAEA General Conference in Vienna, it said.
