March 12, 2026

Spam ALERT: “Investment Update – Important” email is SPAM

ALERT: If you have received an email with the Subject: "Investment Update - Important" — DO NOT CLICK on the attachment.

MARCH 12, 2026:  We are posting this notice to alert people that Nucleation experienced a hacking event and, if you received a notice like this to the right, you should delete this email.

We took precautions to notify everyone that we could reach about the chance that they might have received a spam message.  Many more people were notified than who actually received the spam, once we were able to diagnose what happened. So, if you didn't see the message, you were likely not targeted by this spam event. If you received the message and deleted it, you are also safe. If, however, you did click on the spam message, we are sharing more information about steps you should take to protect yourself and prevent further spread of this spam virus.



A. Background: Spammers are using AI to outsmart us!

Today’s phishing attacks are much harder to distinguish, unlike in the “Nigerian Prince” days. Attackers are making their deceptions much more surgical, using A Large Language Models (LLMs) to scan victim social media and LinkedIn presence, to draft emails that will more closely mimic the person’s likely messages.  They may even have detailed references of current activities, so don’t feel too bad if you were confused and clicked this message.

B. If you’ve clicked then you are likely to have been “infected,” but that may not result in the hack going to your contacts for a few days to a week.

The way to deal with this involves doing the following things:

  1. Change your passwords asap. This is the most important “kill switch."
  2. Implement two-factor authentication as much as possible.
  3. Log out of all open sessions, whether email, online websites, or specific app sessions, and other app access where you’ve entered your credentials, including from phones, iPads, and laptops, etc. A hacker can try to steal those active credentials or tokens to get access to that app, email or platform, which can enable them to bypass even needing your password or two-factor authentication right away. When possible, use the setting that says “Sign out of all other web sessions.” Alternatively, you might see a “Manage devices” or “Remote Log Out” button. Use those to kill sessions that the hacker might want to use or may be actively using, like an online banking app, and you kick them out. Make a habit of always logging out of any app that has a credit card or bank access associated with it.
  4. Check your email filters and forwarding “ghost rules" to see if they have been compromised.  This hacker set up an Email Forwarding Rule that put any message that came to us with the Subject “Investment Update” into the Trash, rather than the Inbox. This was an effort to try to prevent us from getting messages and knowing this hacking had happened. There were a couple of emails asking about the message in the Trash. We found them and were able to delete that rule and respond to those contacts. Be aware, a Spammer can also have your messages forwarded to themselves, so that they can invade your privacy. Be sure to disable all unknown forwarding instructions or filters that "Delete emails," "Skip the Inbox," or forward messages to another email.
  5. Check your email logs.  When we did this, we found the four offending emails that had been sent out to people with the same Subject title and multiple email addressees.  When you find these messages in the logs, that don't show up in your ordinary outbox, you will at least know all of the email addresses that the phishing attack went to.
  6. Check & Revoke Third-Party Access, especially if there are Apps with access to your accounts that you don’t recognize.  If you find something not familiar, remove that access, to prevent the spammer from being able to continue sending as you, even after you change your password.
  7. You might opt to switch to Passkey technology, set up through your Security settings. SMS codes are no longer the safest bet since hackers can now do a “SIM swap” on your phone number. A passkey that uses Face ID, fingerprint or a physical USB key (Yubikey) to log in may be significantly safer. (This last advice item is from Gemini.)

C. If you clicked on the attachment, here's how to do Damage Control.

  1. Warn those you can in advance. This is difficult, time-consuming and definitely not fun—given how many people we have connected with through email—but if you can provide advanced warning, you can help to prevent the spread of this virus. If you clicked on the attachment, you are likely infected so alert those you are connected with to watch out for a suspicious message from you. Definitely warn "high risk” individuals, especially the elderly, bankers, doctors, family members, etc. Let them know that you may have been hacked and the M.O. of this hacker, which is to send out what looks like a very reasonable message that asks them to click on a PDF. Let them know that they should not click on any attachement—especially one that isn’t actually a PDF but is a virus-infecting link. If they know in advance to watch out for a message that seems odd and to check with you if they get it, when they do, they will definitely thank you for that warning.
  2. Prepare who and how you will contact folks. If and when the hacked messages get sent to your contacts, being prepared to send out an alert ASAP can save precious time when this event happens. That can prevent the attacker from having an advantage prior to when people begin to take actions to change passwords and close apps. It will also help you to already know how to check your email logs, so you can quickly discern exactly which contacts were affected, so you don't have to email broader than those who were affected and thus limit your outreach.
  3. Ask people to check for blockers put on their email. Once the link is clicked, it is possible that the hacker will access the victim's email and implement a blocker that prevents you from alerting them. This can cause further delays as you try to help them deal with this hack. It could also interfere with your future ability to communicate with the people in your network in the future.  Please do check if your email account has had any new “blocked email domains” added.
  4. Get help with cyber-security in advance of having your email compromised. An experienced IT security team can help you fortify your cyber defenses and prevent your email from being used improperly and spreading this virus to those you are connected to. Options include local IT professionals and IR firms with emergency response capabilities like:
    1. Mandiant  — acquired by Google, does incident response and crisis management.
    2. CrowdStrike — 24/7 breach and incident response.
    3. Palo Alto Networks Unit 42 — incident response and threat-led investigation for active breaches.
    4. Arctic Wolf Incident Response — emergency IR and restoration support.

Each email system is a little different, so if you are not familiar with how to implement these protections, you are better off checking with your email provider, go-to expert or AI assistant of choice to find out how to access your settings, change passwords and security settings, check email logs and review blockers and filters.  However, here are Gemini's directions for finding your Email Logs:

Here are Gemini's directions for protecting yourself from a hacker when using Google's email:



Updated 3/13/26

December 22, 2025

A Vision for a Radiant Future

Click through to view "Rad Future," author, Isabelle Boemeke's, incredible vision of a truly "radiant" future . . . !

December 21, 2025

Advanced nuclear going “full disco” in 2026! 

We are taking this opportunity to look back and reflect on the major trends and shed light on what's ahead in 2026. Click to read the full newsletter.

December 21, 2025

Thanks to all for your support of nuclear power in 2025! 

We appreciate all of the support provided by our investors, advisors and friends this past year. We wish you all a very healthy, happy and successful new year. May 2026 bring even more progress towards nucleating our carbon-managed economy.

December 20, 2025

Nucleation Capital Participates for a Second Time in Blykalla’s $50M Financing

Nucleation Capital is pleased to congratulate Blykalla on the close of its $50 million financing round in December 2025 and to confirm its participation as a returning investor. The round was co-led by Oklo, Norrsken Launcher, and Armada Investment, with participation from strategic and financial investors including KDDI, Earth Venture Capital, and the co-founders of CoreWeave.

This marks Nucleation Capital’s second investment in Blykalla, following the $7.3 million Series A completed in the spring of 2024, which Nucleation co-led with Norrsken Ventures. Since that time, Blykalla has continued the development of its SEALER lead-cooled reactor while expanding its commercial and partnership activity across Europe and North America.

Over the course of 2025, Blykalla announced a series of partnerships and project-related agreements tied to Nordic deployment of its SEALER reactor, transatlantic cooperation, and the use of nuclear power for data centers.

In February, Blykalla and Norsk Kjernekraft announced a memorandum of understanding to explore the deployment of the SEALER reactor in Scandinavia, followed later by an agreement to pursue an SMR project in Norway’s Svalbard region. In late September 2025, Blykalla announced a major transatlantic partnership with Oklo to collaborate on reactor technology, supply chains, and regulatory coordination. Subsequently, in October 2025, Blykalla announced a landmark partnership with licensed nuclear site host Studsvik and European hyperscaler evroc to evaluate Sweden's first nuclear-powered data centers at the Studsvik site in Nyköping, Sweden. 

The capital from this financing will support continued testing and validation at the Advanced Reactor Testing Site in Oskarshamn, Sweden, further design and engineering work on Blykalla’s first nuclear units, and ongoing commercial and regulatory efforts related to siting and licensing its initial SEALER project.

Nucleation Capital invests in advanced nuclear and nuclear-adjacent companies focused on delivering reliable, zero-carbon energy. Nucleation’s continued participation in Blykalla reflects its long-term view that multiple next-generation reactor designs will be required to meet growing electricity demand from industry, data infrastructure, and other energy-intensive sectors.

December 16, 2025

Aalo Achieves Major Milestone With First Module Shipment to Idaho ()

Portfolio company Aalo Atomics officially announced at the Aaloverse Summit that it has shipped its first five Aalo-0 modules from Austin to the Idaho National Laboratory, validating its mass-manufacturing approach ahead of 2026 reactor criticality...

July 7, 2025

CORE POWER Forms Consortium to Explore Floating Nuclear in Mediterranean ()

CORE POWER has joined ABS and Athlos Energy to form a new consortium studying floating nuclear power solutions for Mediterranean ports, islands, and coastal communities...

June 10, 2025

Nuclear for Climate Change: A luncheon discussion

Luncheon discussion

A Ladies Luncheon discussion of nuclear!

Los Angeles is still reeling from a series of horrific fires that devasted multiple communities, particularly Palisades and Eaton in early 2025. Recent reports found that these fires caused between $28 and $54 billion in property damange, along with what may be $9 billion in related economic losses in LA County alone. The fires have caused a loss of almost 50,000 job-years in the region, reducing area wages, business income, and federal, state and local tax revenue.

Lack of rain, hotter and drier conditions and high winds helped fuel the fires while combating the fires was hindered by the excess heat and widespread shortage of divertable water resources. These are conditions that have been exascerbated by global warming, which is caused by humanity's growing carbon emissions from burning fossil fuels. Gigatonnes of these heat-trapping waste CO2 emissions have amassed within the atmosphere causing the planet to get warmer. Scientists now believe that we've exceeded 1.5°Celsius average increase or 2.7°Fahrenheit and the heating is continuing to rise at an accelerating rate.

While Los Angeles is working to recover, rebuild and repair, the question of how to begin to reverse the damage we're continuing to do to the climate remains. We know with total certainty that we must stop burning fossil fuels. But demand for energy is not just growing around the world, demand is surging—particularly due to AI usage. This means not only do we need to focus on building only new clean energy plants but we also need to replace the 80% of global energy still using fossil fuels with equivalent sources of clean power as well.

We've been building wind and solar as fast as possible but these have never been able to keep up with even the historically lower level of energy growth. Additionally, the enormous costs of "firming" all that dilute and intermittent power (i.e. adding batteries, duplicative generation, and other fossil back up for when the sun and wind aren't cooperating) have increased California ratepayer costs. Meanwhile, we are still reliant on burning fossil fuels for some 60% of our power here in California and new fossil plants continue to get built that lock in continued emissions for decades more, which is extraordinarily bad for our future.

We clearly need better solutions. From our perspective, the only good news on the climate horizon is that energy experts, tech hyperscalers, government officials, industrial companies and investors are increasingly recognizing the importance of nuclear power for addressing our energy and climate needs. Nuclear (fission) power produces massive amounts of energy with zero emissions and runs reliably 24/7 (except for refuelings). It also cleans the air (as it emits zero toxins, unlike coal and gas), it provides good-paying jobs and has one of the smallest possible ecologic footprints. Best of all, there's a race on to develop next-generation nuclear power plants that better meet our 21st century energy needs. (Nuclear fusion may play a role in the future but commercialization of that technology is still much further off.)

Bisconti nuclear surveyNuclear power—and especially newer,  advanced designs—has seen bipartisan support in the Congress since the Obama Administration. Both Biden and Trump have increased funding for development of next-gen nuclear and signed multiples bills to accelerate new deployments for energy security, for climate change and for national security goals. Public support for nuclear power is currently at its highest level in decades. Yet, support by men exceeds that of women overall. Among women, surprisingly, those most concerned about climate change, primarily progressive Democrats, report the least support for nuclear power. This appears to be a function of less awareness and knowledge about the technology and a residual sense that nuclear is dangerous, even though it has been found to be among the safest and cleanest forms of energy ever developed. That does not appear to be common knowledge among women yet.

Valerie Gardner, Nucleation Capital's managing partner, is working to help set the record straight. She is co-hosting a luncheon gathering for an intimate gathering of women in Los Angeles to discuss nuclear power and share what she has learned over the past 15 years of research and investigation, to dispell myths that still infuse women's thinking about nuclear energy.

Official Event Description

Nuclear for Climate

Join a small group of women gathering at an LA restaurant to enjoy a hosted lunch and discussion exploring the proposition that nuclear power could be exactly what we need to meet the surging demand for energy and solve climate climate safely, sustainably and cost-effectively.

As data centers, cloud computing, vehicle electrification, crypto mining, manufacturing and more create unprecedented demand, energy buyers and the broader utility sector in general are facing a pivotal moment. Will we meet this demand with more cheap but often volatile fossil fuel power generation and continue to make our climate crisis worse? Or will we push forward and accelerate the commercialization of revolutionary advanced nuclear technologies that are clean, dense, low-impact, reliable and climate resilient—everything we need! What if next-generation nuclear is able to compete on every level with fossil fuels, including price? This could change our planet's trajectory for the better, reduce emissions, lessen the threat from climate change and help save our children's future.

Screenshot 2025 06 13 at 8.59.45 amEvent Details:

Date:  July 9th, 2025

Time: 12:30 pm - 2:30 pm

Location in LA: To be provided upon registration

Join us to explore ideas that will define the next generation of energy systems. Click here to request an invitation!

Looking forward to seeing everyone in L.A.!

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