Aalo Atomics, led by Matt Loszak, a co-founder of Humi, has secured over $100 million USD in Series B funding. The round was led by Valor Equity Partners and included Canada’s Maple VC, Hitachi Ventures, Fifty Years, Crosscut, Harpoon Ventures, and Alumni Ventures.
Loszak emphasized the importance of nuclear energy, stating, “The world needs as much nuclear energy as we can get, as soon as we can get it.” Aalo plans to use the funds to develop Aalo-X, its first nuclear power plant featuring an experimental data center to showcase the potential synergy between nuclear power and data services.
This funding follows a $27 million USD Series A round and a $6.3 million USD seed round. Aalo is pioneering a new approach with its Aalo Pods, designed to reduce costs and expand nuclear power to more locations, including developing countries and beyond Earth. The startup highlights improved safety through its use of metallic coolants and UZrH fuel, which naturally shuts down reactors if they overheat.
Aalo positions itself as a key player in the future of AI, addressing rising energy demands from data centers. Major tech companies are also exploring nuclear options; Google announced an advanced reactor partnership in Tennessee, and Microsoft plans to reopen the Three Mile Island plant.
Loszak transitioned from Humi to focus on cleantech, founding Aalo after deeming nuclear power essential and misunderstood. The company has built a pilot factory and a full-sized prototype facility.