Aalo Closes $100M Series B

We are excited to announce that Aalo has closed a $100M Series B financing led by Valor Equity Partners, with participation from new and existing investors including Fine Structure Ventures, Hitachi Ventures, Crosscut, NRG Energy, Vamos Ventures, Tishman Speyer, Kindred Ventures, 50Y, Harpoon Ventures, Crescent Enterprises, Alumni Ventures, MCJ, Gaingels, Perpetual VC, and Nucleation Capital, among others.

We now have the capital to build our first nuclear power plant, the Aalo-X, which we’re aiming to bring to zero-power criticality *next summer*. This could be the first advanced nuclear power plant to turn on in the US in decades. This is not just a test reactor, but rather a full plant that will produce electricity. 

And there’s one more thing that makes this special: We’re planning to put an experimental data center right next to it. This will be the first time a nuclear plant and data center are built together, and will act as a demonstration of something we’ll see a lot more of at GW scale thereafter. 

Factory mass-manufactured, fleet-deployed nuclear is the best way to power the future of AI: Quick to install, easy to site anywhere, tiny land and water requirements, available at all times (even during refueling or maintenance, via redundancy of the fleet), and clean. 

We’re progressing as fast as humanly possible towards these goals. 20 months ago, we started hiring. In the past year, we finished the build-out of our 40,000 sqft pilot factory, and our full-scale non-nuclear prototype. I highlight this timeline because we are very proud of our speed. In a world where nuclear energy acceptance is at an all time high, the main remaining objection is that it’s “too slow”.

Aalo exists to change that. The world needs as much nuclear energy as we can get, as soon as we can get it. Not only because it’s the best way to power the acceleration of AI. But also because as costs come down, it will be the most sustainable and resource-efficient way to power almost everything. 

Here is our master plan:

1. Serve the data center market.

Build Aalo-X to prove product-market fit: speed, reliability, and economics for data centers. Then build thousands of Aalo Pods (five Aalo-1 reactors and one turbine per Pod), to power data centers at scale.

2. Bring the cost down and expand.

Enter many more markets, eg municipal utilities (for whom GW-scale reactors are too big), desalination, industrial process heat, and more. Data centers are only 1% of the power market globally, so there are a lot of other markets to go after.

3. Make a more powerful reactor.

Our next reactor will be approximately 10x more powerful, in a similar physical form-factor to the Aalo-1 (still with a focus on mass manufacturability and road transportability). This will bring down the cost of electricity further, getting us closer to our mission of 3 c / kWh.

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Our ultimate goal is to power the world, wherever our technology can help the most. This will include large utilities, developing nations, remote communities, and one day, places beyond Earth.

The Aalo team is extremely grateful to all of our backers for giving us this once-in-a-generation opportunity to help nuclear energy fulfill its potential. While many have dreamed of setting up a "gigawatt factory", we believe we are the right people to do it.

This is just the beginning. We have a lot to prove. If you’d like to join our team, partner with us, or invest in upcoming rounds, please don’t hesitate to reach out!