Texas-based Aalo Atomics, where Humi alum Matt Loszak is a co-founder and CEO, plans to use the money to build a nuclear reactor that will be ready for basic operation by next summer, Loszak wrote in a post announcing the investment round. Among the many participants in the funding round is Maple, a San Francisco venture-capital firm that focuses on U.S. companies with founders who have Canadian roots. (The Logic)
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Texas-based Aalo Atomics, where Humi alum Matt Loszak is a co-founder and CEO, plans to use the money to build a nuclear reactor that will be ready for basic operation by next summer, Loszak wrote in a post announcing the investment round. Among the many participants in the funding round is Maple, a San Francisco venture-capital firm that focuses on U.S. companies with founders who have Canadian roots. (The Logic)
Talking point: Aalo plans to make 50-megawatt modular reactors first to power data centres feeding demand for artificial intelligence, then for municipal and industrial customers. Its first full reactor will be built next to a data centre, to showcase how the two can work together. Aalo’s other co-founder, Yasir Arafat, is a veteran of Canadian-owned nuclear company Westinghouse, where he worked on the eVinci microreactor that’s due to be tested in Saskatchewan.
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