There’s a new nuclear fuel startup in Silicon Valley. And it is being incubated by Peter Thiel and Founders Fund.
What’s happening:
- Nuclear fuel startup General Matter has emerged from stealth mode and announced a $50M USD financing round
Why it matters:
- Peter Thiel’s Founders Fund incubated General Matter and also led their recent funding round
Going deeper:
- General Matter is aiming to become a leader in domestic high-assay low enriched uranium production, which is critical for small modular reactors as well as advanced reactors
- The United States Department of Energy recently selected General Matter as one of four American based companies to provide funding to for the purpose of expanding domestic sources of high-asset low enriched uranium supply
- Founders Fund partner and former SpaceX engineer Scott Nolan is the co-founder of General Matter and Peter Thiel has also officially joined the board
The intrigue:
- Founders Fund also recently made waves in Silicon Valley with the closing of a new $4.6B USD venture capital fund focused on investing in late stage companies
