Radiant

Radiant

Portable nuclear microreactors replacing diesel generators

Overview

Radiant develops and manufactures portable, factory-built nuclear microreactors for on-demand, off-grid power. Its Kaleidos reactor is a 1 MWe high-temperature gas-cooled unit that uses TRISO fuel and a helium coolant in a container-sized package, operable for up to five years before refueling as part of a 20-year lifecycle. The units are designed for rapid deployment via truck, sea, or air and are produced in a factory at R-50 to enable mass production, serving military, data centers, disaster relief, and other critical sites with both government contracts and commercial deals. The goal is to provide reliable, emissions-free power that can be deployed quickly to remote or critical locations, reducing diesel dependence and increasing energy resilience.

About Radiant

Simplify's Rating
Why Radiant is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Hardware

Industrial & Manufacturing

Energy

Defense

Company Size

501-1,000

Company Stage

Series D

Total Funding

$620.7M

Headquarters

El Segundo, California

Founded

2019

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Simplify's Take

What believers are saying

  • Army awarded Radiant up to $750 million on August 26, 2026.
  • First TRISO fuel arrived at INL in July 2026, advancing full-power testing.
  • Equinix committed to 20 units, proving demand beyond defense customers.

What critics are saying

  • NRC approval for R-50 ends December 18, 2026; failure blocks manufacturing scale-up.
  • Army Janus milestones run through 2030; missed deliveries hand contracts to Westinghouse and BWXT.
  • Radiant has no commercial operating revenue yet; one failed DOME campaign kills credibility.

What makes Radiant unique

  • Kaleidos is a 1MWe transportable reactor, not a site-built SMR.
  • Radiant controls fuel, refueling, and spent fuel at R-50 in Oak Ridge.
  • DOE gave Radiant exclusive DOME testing and two HALEU allocations in 2026.

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Funding

Total Funding

$620.7M

Above

Industry Average

Funded Over

7 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$300M
Radiant

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Stock Options

Unlimited Paid Time Off

One Medical

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

1%

2 year growth

2%
Investor's Business Daily
Aug 31st, 2026
The Army just put A price on five nuclear microreactors for U.S. Bases.

The Army just put A price on five nuclear microreactors for U.S. Bases. The Army just put a price on its plan to install nuclear microreactors at five military bases across the eastern U.S. - $2.2 billion. The payout flows to five nuclear energy players, including BWX Technologies and Westinghouse Government. Microreactors can be a thousand times smaller than conventional reactors, with correspondingly small footprints that lend themselves to factory assembly, delivery by truck or air, and flexible deployment. They're part of the Trump administration's push to quench surging electricity demand, much of it AI-driven, with nuclear power. How This Uranium Enrichment Technology Aims To Solve The Nuclear Fuel Bottleneck For Big Tech AI data centers require 24/7 power, a demand only nuclear energy can meet. But the industry faces a major hurdle: fuel supply. LIS Technologies CEO Jay Yu breaks down the shift toward domestic uranium enrichment and the roadmap to securing America's energy future. How This Uranium Enrichment Technology Aims To Solve The Nuclear Fuel Bottleneck For Big Tech See All Videos Microreactors are a category of especially petite small modular reactors (SMRs), defined by the Energy Information Administration as ranging from 1 to 20 megawatts of output. The low end of that range is enough to power hundreds of homes at peak demand. None of these development-stage reactors is yet ready for commercial use or military deployment. BWX, Westinghouse land contracts. BWX Technologies (BWXT) is the sole publicly traded vendor selected by the Army. It's set to design and deploy a microreactor for Kentucky's Fort Campbell. Westinghouse Government - a unit of Westinghouse Electric, a joint venture owned by Brookfield Renewable Partners (BEP) and Cameco Corp. (CCJ) - is slated to do the same for New York's Fort Drum. BWX traded close to 1% lower Monday afternoon. Shares are down 12% year to date, after rallying 54% in 2025. Cameco stock shed more than 2%, narrowing its 2026 gain to just under 7%. It rocketed 78% in 2025. Private firms Radiant Industries, General Atomics Electromagnetic Systems and Antares Nuclear will develop units in Georgia, Texas and North Carolina. Each vendor is contracted to design, own, deploy and operate their respective microreactors. They're also responsible for handling nuclear waste disposal within two years, the New York Times reports. IBD newsletters. Get exclusive IBD analysis and actionable news daily. Several SMRs have so far successfully produced stable chain reactions during the second Trump administration. None operate commercially in the U.S. to date. There are dozens of SMRs in various stages of development and deployment across the U.S. "With the private sector funding expected along with these government dollars, the Army expects more than 20 total nuclear microreactors will be built and operated across Department of War installations," the military said in a statement. Microreactors: opportunities and challenges. Microreactors rely on nuclear fission to generate heat and turn turbines with steam. Their primary perk is modularity, which means developers can build and ship them, while buyers could stack modules as needed to meet rising energy demand. The extra small reactors are "(price-competitive) with technologies with similar scale and application," according to a 2021 review published in the journal Progress in Nuclear Energy. But microreactors still yield radioactive waste and face strict regulatory hurdles. Specifically, the availability of the specialized HALEU fuel remains a critical bottleneck for the technology. The Army expects to secure enough high-assay low-enriched uranium (HALEU) for about 20 microreactors, a spokesperson told the New York Times. Beyond that, the Energy Department is attempting to kick-start a domestic supply chain for the fuel through purchase agreements. Follow Harriet Weber on LinkedIn and Bluesky. Find her on Signal: hew.04. YOU MAY ALSO LIKE:

Radiant Industries Inc.
Aug 26th, 2026
Radiant wins $750M contract from US Army to deliver energy independence to US military bases.

Radiant wins $750M contract from US Army to deliver energy independence to US military bases. Janus program advances national security and resilient energy to support defense installations August 26, 2026 EL SEGUNDO, Calif. - August 26, 2026 - Radiant, the company building the world's only plug-in ready, transportable commercial nuclear microreactors, today announced that the U.S. Army, in partnership with the Defense Innovation Unit (DIU), has executed a binding agreement totaling up to $750 million dollars to develop and deploy 15 Kaleidos nuclear microreactors through the Army's Janus Program. Radiant's award is one of the largest contracts ever issued by DIU across their portfolio, and the largest award within the Janus Program. "The U.S. Army is a savvy customer. They have the world's top nuclear experts and know what to look for in a partner," said Tori Shivanandan, President and Chief Operating Officer of Radiant. "The numbers tell the story. This award shows confidence in Radiant's product and ability to manufacture, deploy, and safely operate nuclear microreactors for the American military. We thank Dr. Waksman and Director Owen West for their leadership. This program will build a stronger and more resilient America while accelerating our operational excellence." The contract accelerates Radiant's customer deployment of nuclear microreactors at scale. Radiant will manufacture a fleet of factory-built, fully transportable reactors capable of delivering reliable, independent power for military installations and other critical national security missions. "The Army was very thoughtful in designing the Janus Program to capitalize on the complementary strengths of the government and private sector. They got it exactly right,"" said Mike Starrett, Chief Commercial Officer at Radiant. "Through Janus, Radiant will deploy 15 reactors by 2030, identical in design to the units serving our commercial customers. Operating on military installations first gives us the reliability track record to unlock commercial deployments, and the resulting, much larger commercial volume drives down costs, letting the Government buy at scale for less. It's a powerful accelerant for Radiant, made possible only through Janus." The Army launched the Janus Program to strengthen the energy resilience of military installations and mission-critical infrastructure. Radiant was chosen after extensive evaluation of reactor design, technical maturity, manufacturing readiness, deployment strategy, and commercial viability. Radiant's 15 microreactors will enable the Army to deploy nuclear power across multiple locations. In tandem, the operational data acquired through the Program will accelerate commercial deployments across a global footprint of commercial customers. "The Janus Program is about transitioning from designs and experiments to reliable commercial hardware which secures our energy independence," said Dr. Jeff Waksman, Principal Deputy Assistant Secretary of the Army for Installations, Energy and Environment. "The Janus Program vendors were selected through a deeply rigorous evaluation on technical, financial, and organizational capabilities conducted by an all-star panel of dozens of experts from across the nation. We look forward to working alongside each team as they proceed toward successfully completing the rigorous technical milestones we've agreed upon." Kaleidos is a 1-megawatt nuclear microreactor, transportable by land, sea, or air and deployed directly at customer sites. Plug-in ready, each reactor provides up to five years of power before refueling and is engineered with a 20-year operating life cycle. Unlike permanently installed nuclear facilities that require long lead times and site-specific construction, Kaleidos provides energy in a box. It requires no cooling water, and it is not a "hole-in-the-ground" reactor. The reactor arrives as a sealed, fueled unit that can be plugged in immediately. Additional units can be added or relocated as energy requirements evolve. Radiant manages fueling, refueling, and spent-fuel storage at its own facilities, allowing customer sites to return to greenfield condition, within two years or less after a unit is removed. Customer sites never have onsite spent fuel storage. Radiant's Kaleidos reactor is undergoing the country's most rigorous test campaign at the Idaho National Laboratory DOME facility, which was updated for small modular reactor testing in 2026. Following a competitive selection process, the Department of Energy awarded Radiant exclusive access to the facility for a full year. Kaleidos is undergoing the industry's only full-scale, full-power, extended duration reactor test- using the same reactor design and custom spec'd fresh fuel that will be used for customers deployments. Beyond reactor development, Radiant is standing up the entire vertically integrated industrial capability required to manufacture, fuel, deploy, and service its products. Radiant is already under construction on its 300,000-square-foot R-50 manufacturing, fueling and storage campus in Oak Ridge, Tennessee. The company will fuel its own reactors and control every step of production through end-to-end ownership of the supply chain. The Janus award builds on Radiant's previous selection by the Department of the Air Force and DIU to develop and operate Kaleidos microreactors at Buckley Space Force Base in Colorado. These government deployments will further validate Kaleidos in real-world operating environments, advancing the product and demonstrating its readiness for commercial deployment. Radiant has already signed an agreement with Equinix for 20 Kaleidos units and continues to advance commercial opportunities across data centers, advanced manufacturing, critical infrastructure and other commercial applications. Radiant is decentralizing the grid, 1-megawatt at a time, and converting the grid to backup power to save money for its customers. About Radiant Radiant is a leading developer of advanced nuclear technologies focused on delivering reliable, resilient, and scalable energy solutions that are transportable by land, sea and air. Radiant is committed to enabling a new generation of nuclear applications for commercial, industrial, and defense customers. Media Contact Agnes Gomes-Koizumi

Business Wire
Aug 26th, 2026
Radiant wins $750M US Army contract to deploy 15 nuclear microreactors by 2030

Radiant has secured a contract worth up to $750 million from the US Army to develop and deploy 15 Kaleidos nuclear microreactors through the Army's Janus Programme. The agreement, executed in partnership with the Defence Innovation Unit, represents one of DIU's largest contracts to date. The Kaleidos reactors are 1-megawatt units, transportable by land, sea, or air, providing up to five years of power before refueling. Each arrives as a sealed, fueled unit requiring no cooling water. Radiant plans to deploy the 15 reactors by 2030. The company is constructing a 300,000-square-foot manufacturing facility in Oak Ridge, Tennessee, to produce and fuel the reactors. Radiant has already signed a commercial agreement with Equinix for 20 units and previously secured a contract with the Department of the Air Force for deployment at Buckley Space Force Base in Colorado.

The Defence Blog
Aug 25th, 2026
U.S. Army awards $2.2 billion to build nuclear microreactors.

U.S. Army awards $2.2 billion to build nuclear microreactors. Aug 27, 2026 Modified date: Aug 27, 2026 Key Points * The U.S. Army selected five companies, including Westinghouse and Radiant, to build nuclear microreactors at five bases under its $2.2 billion Janus Program. * Radiant's $750 million award, the largest of the five, covers 15 microreactors beginning with a three-unit installation at Fort Benning. The U.S. Army has selected five companies to build and operate nuclear microreactors at military installations across the country, awarding up to $2.2 billion in combined funding under its Janus Program, the Army announced. Westinghouse Government Services will supply its eVinci microreactor to Fort Drum, New York. Antares Nuclear will build at Fort Bragg, North Carolina. BWXT Advanced Technologies is set for Fort Campbell, Kentucky. General Atomics Electromagnetic Systems will deliver to Fort Hood, Texas. Radiant Industries will build at Fort Benning, Georgia. The Janus Program is run in partnership with the Department of War Innovation Unit and is intended to move advanced microreactor technology beyond test programs and into sustained operation at defense installations, according to the Army. - ADVERTISEMENT - CONTINUE READING BELOW - Discover more Access Premium News U.S. Air Force Join Air Force "Reliable energy is fundamental to mission assurance, operational readiness and national security," said Rich Rademacher, President of Westinghouse Government Services. "The selection of the eVinci microreactor for the Janus Project highlights the important role advanced nuclear technology can play in providing resilient, long-duration power to the warfighter." "The Janus Program is about transitioning from designs and experiments to reliable commercial hardware which secures our energy independence," said Dr. Jeff Waksman, Principal Deputy Assistant Secretary of the Army for Installations, Energy and Environment. "The Janus Program vendors were selected through a deeply rigorous evaluation on technical, financial, and organizational capabilities conducted by an All-Star panel of dozens of experts from across the nation." The eVinci is a heat-pipe reactor Westinghouse says is designed to provide continuous electricity for eight years without refueling. The planned microreactors across the five installations will generate under 20 megawatts of electricity each and occupy less than five acres of land, according to the Army. Radiant disclosed the largest agreement among the five vendors: up to $750 million to deploy 15 factory-built, 1-megawatt Kaleidos microreactors by 2030, beginning with a three-unit installation at Fort Benning. Radiant's Kaleidos reactor is transportable by land, sea or air and is designed to be deployed directly at customer sites, according to the company. "The Army's $750 million award shows confidence in Radiant's product and ability to manufacture, deploy and safely operate nuclear microreactors for the American military," said Tori Shivanandan, president and chief operating officer of Radiant. None of the planned reactors will use highly enriched, weapons-grade uranium, according to Waksman. The Janus Program follows the Pentagon's 2022 Project Pele initiative, which developed a portable 40-ton reactor capable of generating 1 to 5 megawatts of power. Army officials said the current program is funded for five years, with a target of having at least one microreactor producing usable electricity at an installation by September 30, 2028. The five sites selected represent the first tranche of installations under Janus, with Army officials anticipating that additional private investment from the companies could bring the total number of microreactors across all installations to more than 20. The push into military nuclear power comes as private companies increasingly move into a fuel-cycle sector long dominated by government programs. Christo Liebenberg, co-founder of uranium enrichment company LIS Technologies, told The Defence Blog in March that domestic enrichment capacity sits at the center of both civilian and defense nuclear infrastructure, and that private firms can move faster than institutional programs in developing fuel supply for smaller reactors built for remote or secure military installations. Readers who wish to follow its weekly coverage can subscribe to the Weekly Defense Roundup. If you wish to report a grammatical or factual error in this article, please let Iniaes LLC. know by using the online form. Executive Editor Support The Defence Blog

The Energy Data
Aug 22nd, 2026
Standard Nuclear signs TRISO fuel supply deal with Radiant.

Standard Nuclear signs TRISO fuel supply deal with Radiant. Standard Nuclear signs TRISO fuel supply agreement with Radiant. Standard Nuclear, a U.S.-based producer of TRISO nuclear fuel, has entered into a binding fuel supply agreement with Radiant Industries, a developer of portable nuclear microreactors. The agreement represents a significant step toward expanding commercial demand for advanced nuclear fuel and strengthening the domestic supply chain needed to support the next generation of nuclear power technologies. Under the agreement, Radiant will secure multiple metric tons of TRISO fuel from Standard Nuclear, with deliveries scheduled through 2031. The multi-year commitment provides Radiant with a defined fuel supply for its advanced reactor development and deployment plans while giving Standard Nuclear a long-term commercial customer for its U.S.-produced fuel. The agreement comes as advanced nuclear developers increasingly look beyond traditional large-scale reactors toward smaller, transportable and flexible nuclear systems. These technologies are being developed for applications ranging from remote power and industrial facilities to defense installations and behind-the-meter electricity generation. TRISO, or tristructural isotropic, fuel is a form of advanced nuclear fuel designed to retain radioactive materials within multiple protective layers. Its structure provides strong resistance to high temperatures and is intended to support the safety characteristics of next-generation reactors. As advanced reactor technologies progress toward commercialization, dependable access to qualified fuel is becoming an increasingly important part of the broader nuclear supply chain. Standard Nuclear said the agreement demonstrates growing commercial-scale demand for TRISO fuel across a range of advanced reactor applications. The company describes itself as a reactor-agnostic TRISO fuel producer, meaning its fuel production capabilities are intended to support multiple reactor technologies rather than being tied to a single reactor design. The company is also the only U.S. company currently operating industrial-scale TRISO fuel fabrication facilities, according to the announcement. Its focus on domestic fuel production comes as the U.S. nuclear industry seeks to establish stronger domestic supply chains for advanced reactor technologies and reduce reliance on overseas sources for critical nuclear materials and components. Radiant Industries is developing Kaleidos, a portable nuclear microreactor designed to produce approximately 1 megawatt of electrical power. Unlike conventional nuclear power plants, which typically require large permanent sites and extensive infrastructure, Kaleidos is designed to be transported and deployed directly at customer locations. The transportable nature of Radiant's technology could enable nuclear generation to serve customers that face challenges accessing conventional electricity infrastructure. Potential applications include remote locations, industrial operations, defense facilities and other sites requiring reliable power with limited dependence on the existing grid. The fuel agreement is therefore strategically important for both companies. For Radiant, securing multiple years of TRISO fuel supply provides greater visibility as it advances its microreactor technology toward deployment. For Standard Nuclear, the agreement creates a long-term demand commitment that can support continued investment in domestic TRISO fuel production. The partnership also illustrates how fuel availability is becoming a key consideration in the commercialization of advanced nuclear reactors. Reactor developers must establish not only the technology and licensing pathways for their systems but also reliable access to the specialized fuels required to operate them. Advanced reactor companies are developing a variety of designs that use fuels and configurations different from those found in conventional commercial reactors. TRISO fuel is particularly relevant to several high-temperature reactor concepts because of its ability to withstand extreme operating conditions. Establishing sufficient production capacity could therefore become an important factor in determining how quickly advanced nuclear technologies can move from demonstrations to commercial operation. For Standard Nuclear, long-term agreements such as the Radiant deal are part of a broader strategy to establish a predictable customer base for its fuel production operations. The company said it aims to offer customers short-, medium- and long-term supply options, giving reactor developers greater flexibility when planning fuel requirements. That flexibility may be especially valuable for emerging reactor companies. Many advanced nuclear developers are still progressing through technology demonstrations, regulatory processes and early commercial deployments. Their fuel requirements can change as projects move from testing to larger-scale deployment. Supply arrangements that can accommodate different development stages could help reduce uncertainty around fuel procurement. Kurt Terrani, President and Chief Executive Officer of Standard Nuclear, said the agreement reflects customer confidence in the company's ability to provide the TRISO fuel required for advanced power systems. "Radiant is now deploying truly transportable, safe, and highly advanced microreactors to transform the power paradigm for defense, behind the meter, and elsewhere," Terrani said. He added that the agreement demonstrates customers' continued confidence in Standard Nuclear's ability to supply the fuel needed for these systems. According to Terrani, Standard Nuclear's ability to provide short-, medium- and long-term supply arrangements is intended to give customers greater certainty as demand for advanced nuclear fuel increases. The agreement with Radiant also highlights the potential relationship between advanced nuclear generation and growing electricity demand. Industries such as data centers, manufacturing, defense and remote infrastructure are increasingly evaluating power sources that can provide reliable electricity without depending entirely on conventional grid expansion. Portable microreactors could offer an alternative for certain applications where grid connections are expensive, unavailable or insufficient. Their ability to be transported and deployed at customer sites could also provide greater flexibility than traditional centralized power generation. Radiant's Kaleidos is positioned around this concept, offering a compact nuclear generation system intended for direct deployment. By pairing that technology with a secured supply of TRISO fuel, Radiant is taking steps to address one of the fundamental requirements for commercial reactor operation. The agreement extending through 2031 provides a relatively long planning horizon for both companies. For Radiant, it establishes fuel availability as it progresses with its microreactor program. For Standard Nuclear, it contributes to a growing commercial foundation for domestic TRISO fuel manufacturing. The partnership comes at a time when the U.S. advanced nuclear sector is working to develop an integrated domestic ecosystem encompassing reactor design, fuel production, manufacturing, regulation and deployment. Reliable fuel production is particularly important because advanced reactor commercialization cannot progress at scale without a corresponding supply of qualified nuclear fuel. Standard Nuclear's agreement with Radiant therefore extends beyond a conventional supplier-customer relationship. It represents a long-term commitment linking fuel manufacturing with the development of portable nuclear generation. As advanced reactors move closer to commercial deployment, agreements of this type could help provide the supply certainty needed to support the industry's expansion. With deliveries planned through 2031, the partnership establishes a multi-year framework for TRISO fuel supply and reinforces the growing role of advanced nuclear technologies in discussions surrounding reliable, flexible and domestically produced power.

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