Los Angeles, March 25, 2026 (GLOBE NEWSWIRE) — Applied Atomics, a developer and operator of full-stack nuclear power plants designed for continuous industrial operation, today announced it has raised more than $8.3 million in an oversubscribed seed financing round. The financing supports the march from development to deployment by bringing key test and integration stands online, reinforcing a proven and resilient supply chain, and accelerating coordinated progress across engineering integration, customer siting discussions, and the disciplined build-out of delivery and operating capability at scale.
“Reliable power infrastructure must be designed, financed, built, and operated as a single integrated system,” said Benjamin Kellie, Chief Executive Officer of Applied Atomics. “This financing allows us to move from development into deployment, strengthening the disciplined engineering, supply chain coordination, and delivery capability required to put first steel in the ground and bring nuclear power into long-term industrial service.”
Applied Atomics is building 100MW – 1GW nuclear power plants co-located with large infrastructure campuses, using established light-water reactor architecture alongside well-established industry partners combined with integrated plant design, supply chain control, and long-term operating capability. Applied Atomics plans to own and operate its plants and deliver electricity to customers under long-term power purchase agreements, providing predictable pricing and capacity assurance over multi-decade operating lives.
The company’s approach is designed to reduce the cost uncertainty and schedule risk that has long constrained nuclear deployment. The financing reflects investor conviction that these challenges stem less from technology and more from fragmented delivery models and misaligned incentives.
“Affordable nuclear power has never been constrained by physics. It has been constrained by execution,” said Ari Helgason of Transition, a co-lead in the financing. “In an environment where traditional project models continue to struggle, we believe Applied Atomics’ full-stack approach offers a clearer path to deployable nuclear capacity.”
Investors also point to the growing demand from hyperscale infrastructure operators and industrial customers for long-duration, dispatchable clean power as a key driver of timing.
“We all know we need lots of firm power. It’s about who gets there fastest,” said Aubrie Pagano of Alpaca VC. “Applied Atomics is approaching this as an integrated delivery problem. Taking a page from SpaceX, AA has built day-zero alignment across design, supply chain, and operations, and that is what gives this model a real path to deployment where it is so sorely needed.”
The financing follows early commercial engagement with industrial energy developers and the successful completion of initial systems validation milestones on the company’s digital twin SimBox platform. Applied Atomics is testing plant control logic, automated safety response, and system resiliency with actual supply chain components in across scaled operating conditions. This capability streamlines advancement toward site-scale engineering integration and future licensing readiness.
Applied Atomics has also established its first integrated design and test studio in the Los Angeles Arts District. The facility serves as a hub for engineering collaboration, systems demonstration, and deployment program development within one of the world’s strongest infrastructure and logistics markets. The company is also planning to break ground on its training and operations facility with additional test stands later this year.
The Applied Atomics team has experience spanning advanced aerospace programs, nuclear fleet operations, scaled enterprise software platforms, large-scale energy project delivery, and industrial technology commercialization. Its leadership has developed and deployed a combined $1 Billion in heavy infrastructure over the past decade.
“The Applied Atomics team uniquely brings to bear real world experience in developing and delivering large scale technically advanced infrastructure projects from aerospace to nuclear fleet operations,” said Howard Ko of Morpheus, a co-lead investor in the financing. “Customers planning multi-decade infrastructure investments are increasingly focused on securing firm clean capacity with predictable deployment pathways like Applied Atomics, rather than waiting on unproven technology cycles.”
Over the next 12 months, Applied Atomics plans to finalize its first host sites and customer agreements, activate multiple engineering test stands, and advance structured engagement under the NRC Part 50 licensing pathway as initial deployment customers are selected and the company moves toward first commercial construction.
The company will also expand its engineering, product, and deployment teams, scaling the internal execution capacity required to design, build, and operate its first nuclear power plants.
About Applied Atomics
Applied Atomics develops and operates nuclear power plants for industrial infrastructure customers requiring long-duration, carbon-free energy. The company focuses on full-stack deployment, integrating reactor systems, plant design, supply chain management, and long-term operations to deliver predictable, continuous power over multi-decade service lives. The seed financing round brings the total amount funding raised in the company’s first 12 months to $12 Million.
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