Equinix-backed microreactor firm Radiant Industries has raised more than $300 million as part of its latest funding round. Draper Associates and Boost VC led the funding round, with additional financial commitments from current investors.

According to the company, the latest funding round will support its commercialization efforts as it prepares to break ground on its R-50 factory in Oak Ridge, Tennessee. The company expects to start construction on the project in early 2026. It aims to deliver its first mass-produced Kaleidos nuclear generator by 2028, and, within a few years, scale up production to 50 reactors per year.

The company’s Kaleidos microreactor is a high-temperature gas-cooled reactor (HTGR) designed to produce 1.2MWe and 3MWth. It utilizes TRISO fuel, a helium gas coolant, and prismatic graphite blocks. Radiant says its modular containerized system can be deployed to deliver on-site power within days.

“Micro-scaled nuclear, mass produced for the first time ever, can transform how the public thinks about nuclear energy,” said Doug Bernauer, CEO and founder of Radiant. “This funding enables us to build our factory and keep to our DOME schedule, where we will achieve a self-sustained chain reaction on a reactor designed by, built by, fueled by, and operated by Radiant alongside our partners at the Idaho National Lab.”

The company is currently in pre-application talks with the US Nuclear Regulatory Commission and was named one of 11 projects in the US Department of Energy’s (DOE) Nuclear Reactor Pilot Program. The company has completed front-end engineering and experiment design for a Kaleidos prototype, aiming for lab testing as early as mid-2026.

The company has also signed a deal with the DOE for the supply of High-Assay Low-Enriched Uranium fuel for next year’s test at INL.

In August, the company gained the backing of colo giant Equinix, which committed to purchase 20 of its Kaleidos microreactors. The deal was part of a broader commitment by Equinix to the advanced nuclear sector, with it also signing deals with ULC-Energy, Stellaria, and Oklo.

DCD did a deep dive into this deal and the broader small modular reactor market in our latest magazine. Available for free here.