Nuclear startup Antares said Tuesday it has raised $96 million in Series B funding as it pursues its small modular reactor design.

The round, which was led by Shine Capital with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and others, consists of $71 million in equity and $25 million in debt.

An tares says it is targeting commercial, defense, and space-based applications with its R1 microreactor, which will produce between 100 kilowatts to 1 megawatt of electricity. The design uses TRISO fuel, which in Antares case is spheres of carbon- and ceramic-coated uranium embedded in graphite.

The startup is one of several companies that have benefitted recently from renewed interest in nuclear power over the last six months.

Last week, Amazon-backed X-ene

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