May 5, 2026

Blue Energy Raises $380M, forms partnership with GE Vernova

Blue Energy and GE Vernova have formed a strategic collaboration to advance the world’s first gas-plus-nuclear power plant. The two companies intend to design and develop a power plant using GE Vernova Hitachi Nuclear Energy's BWRX-300 small modular reactors and combine that with GE Vernova gas turbines to meet as much as 2.5 gigawatts of electricity demands as quickly as possible, in order to provide power to a client's AI data center. This includes a signed slot reservation agreement for delivery to the Texas site of two GE Vernova 7HA.02 gas turbines in 2029 for “early site energization.” With turbines one of the long-lead time gating items for new power plants, this delivery timeframe is a win for Blue Energy's plans.

Blue Energy has been developing an approach to accelerate deployment of new nuclear power plants by trimming at least five years off the conventional nuclear timeline and slashing time to power to 48 months or less with a natural gas bridge to gigawatts of nuclear power. At the end of last year, the Nuclear Regulatory Commission approved the company’s licensing topical report on its approach to “resequencing” the phases of nuclear plant construction. Under its model, Blue Energy separates construction of the nuclear and non-nuclear portions of the plant, beginning with off-site fabrication and on-site installation of the non-nuclear, “non-safety-significant” infrastructure. This approach enables fabrication and site energization to begin while the nuclear components continue through their licensing and construction phases.

In late April, 2026, Blue Energy close on a staggering $380 Million Series B which will help it advanced its rapid-progress style approach to nuclear plant development. This fundraise was led by VXI Capital, signaling what may be a whole new chapter in the growth of American nuclear power, with additional backing from prior venture investors, including Engine Ventures, At One Ventures and Tamarack Global.

February 9, 2026

Radiant Advances to Final DOE Authorization Phase for Kaleidos Reactor ()

Radiant has received DOE approval of its Preliminary Documented Safety Analysis for the Kaleidos reactor, marking the first full-power test approved under the DOE’s new authorization pathway and paving the way for final startup authorization at INL’s DOME facility...

December 20, 2025

Radiant Announces $300M+ Series D Raise

Nucleation Capital is pleased to congratulate Radiant Nuclear and share their December 17th announcement of its close of a $300+ Million Series D financing, led by Draper Associates and Boost VC for a combined $100 million check. Many prior Radiant investors are also re-investing including DCVC, Andreessen Horowitz, Founders Fund, Nucleation Capital and others.

Nucleation Capital is participating in this Series D financing, so all current subscribers will gain access to this investment, which marks Nucleation's third investment into Radiant since the company raised its Series A in 2021. Additionally, this will be the first time that Nucleation has invested three times into a venture, which is a reflection of the company's impressive success knocking down milestones towards the design, development, construction, testing and licensing of Kaleidos, the company's 1 MW transportable power generator.

Radiant is among a small handful of advanced nuclear developers that are making rapid strides towards initial builds and testing of novel reactor designs through a combined DOE/NRC licensing approach. As one of just three companies selected for DOME testing of its reactor in the DOE FEED Program back in 2023, Radiant managed to win the #1 testing slot, beating Westinghouse's eVinci for the right to commence testing in 2026, securing what we think could be an early-mover advantage in the race towards full commercial NRC licensing.

This new capital raise, which came together quickly less than a year after the company's Series C, will support the company's DOME testing and scaling of its commercialization efforts, particularly the design and build-out of Radiant's production factory, R-50, being sited in Oak Ridge, Tennessee on an 85-acre parcel of former Manhattan Project land.

Nucleation Capital, whose Fund I is a long-term investor in Radiant, builds boutique portfolios of top ventures innovating within the advanced nuclear and nuclear-adjacent sectors. There is so much demand across every sector for better sources of clean, reliable energy, we believe that there is a huge opportunity for those ventures like Radiant delivering reliable clean power systems that meet the energy needs in specific niches like data centers, remote villages, industrial centers, universities, hospital campuses, marine transport fleets, forward military bases, vehicle charging stations, large towns and urban district heating systems.

Fund I is designed primarily to provide curated and affordablce access for accredited and other high networth investors. Nucleation's Fund II is designed to provide institutional LPs with boutique access to these rarified clean energy sectors, though skewed slightly later stage.

Nucleation's Fund I operates on a quarterly subscription model and accepts new investors (as limited partners or "LPs") on a rolling basis. Investors select the level and term that works for them—from as low as $10,000 to as high as $1 milion per year—and fund on a quarterly basis to receive a pro rata allocation in each of the investments Nucleation makes each quarter. Learn more about participation in Nucleation's Fund I here.

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