Key facts
- Apollo Atomics is developing a compact, mass-manufactured steam generator for nuclear reactors.
- The startup aims to make nuclear power cheaper than natural gas, projecting costs of 3 cents per kilowatt hour.
- Apollo Atomics secured $26 million in seed funding, led by FCVC.
- The company plans to offer reactors in sizes from 10 to 300 megawatts.
- Their design is based on research from MIT and aims for commercial deployment by 2028.
Apollo Atomics, a startup founded by Assil Halimi and Drew Walker, is aiming to make nuclear power more cost-competitive by focusing on a critical but often overlooked component: the steam generator. While many companies are developing new reactor designs, Apollo believes the key to lower costs lies in rethinking how thermal energy is converted to electricity.
Halimi, the CEO, explained that their approach involves shrinking the steam generator, which is typically the largest component in a power plant. Apollo's version is designed to be mass-manufactured and is about the size of a person, allowing for a reactor that is 40 times smaller than conventional ones. This compactness is expected to enable factory assembly rather than on-site construction, significantly reducing labor costs and build times.
The company recently closed a $26 million seed funding round, including $5 million in debt, to develop a demonstration reactor. The design is based on research from MIT. Apollo projects that its power plants will generate electricity at 3 cents per kilowatt hour, aiming to compete with or beat natural gas prices. They plan to offer reactors in three sizes, ranging from 10 to 300 megawatts, with the goal of commercial deployment by 2028.
The funding round was led by FCVC, with participation from Telesoft Partners, Y Combinator, Alumni Ventures, Robinhood Ventures, Nucleation Capital, Pelion VC, Duke Capital Partners, New Era Ventures, Orange Collective, Stanford University, E14 Fund, and Neutron Power Ventures. Apollo was also part of Y Combinator’s Spring 2026 batch.