Aalo has raised $100 million in a Series B round led by Valor Equity Partners, with participation from a wide range of new and existing investors. The round includes backing from 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.
The fresh capital will fund the construction of Aalo-X, the company’s first nuclear power plant, targeted to reach zero-power criticality by next summer. If successful, it would become the first advanced nuclear facility in the U.S. to come online in decades—and it won’t just be a prototype. Aalo-X is designed to generate electricity, setting the stage for commercial deployment.
What sets Aalo-X apart is its unique integration: the company plans to build an experimental data center directly adjacent to the plant. This pairing would mark the first time a data center and a nuclear power plant are built together—a move Aalo says is a preview of what's to come at gigawatt-scale in the future.
The logic behind it is strategic: data centers, particularly those powering AI workloads, require massive, always-on energy sources. Aalo argues that modular, factory-built nuclear reactors are ideal—quick to deploy, small in footprint, and independent of weather patterns. “The world needs as much nuclear energy as we can get, as soon as we can get it,” the company noted.
Aalo says its rapid progress was a key driver of investor confidence. The company began hiring just 20 months ago. Since then, it has completed a 40,000-square-foot pilot factory and a full-scale, non-nuclear prototype.
With this new funding, the team is now moving from design to construction. Aalo-X, located at the Idaho National Laboratory, will be used to validate the technology and build credibility with customers, regulators, and future partners.
Once Aalo-X is operational, the company plans to roll out Aalo Pods—modular units containing five Aalo-1 reactors and one turbine. These Pods are intended to serve the growing energy demands of the data center market, with an eye toward scaling fast via fleet deployment.
But Aalo’s ambitions extend beyond AI infrastructure. The team plans to expand into broader applications like municipal utilities, industrial heat, and desalination—sectors often underserved by large-scale gigawatt reactors. Eventually, the company will introduce a next-generation reactor that’s 10 times more powerful than the Aalo-1 but built for the same factory-based production model.
Founded with the goal of making clean, always-available energy widely accessible, Aalo aims to drive electricity costs down to 3 cents per kilowatt-hour. The team believes their small, shippable reactors will be especially impactful in regions where traditional power sources are costly, unreliable, or geographically constrained.
As the company scales, it sees opportunities in remote communities, developing nations—and potentially even off-planet. “This is just the beginning,” Aalo stated. “We have a lot to prove.”
Aalo is led by co-founder and CEO Matt Loszak, who played a key role in the latest fundraising effort. The company is headquartered in Austin, where it built its prototype and factory.
The Series B round was supported by a diverse group of backers spanning climate, tech, infrastructure, and impact investing. Notable participants include: Valor Equity Partners (lead), 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, Nucleation Capital.
