Mentioned:
Antares is one of the most well funded microreactor startups in America. And now, they’re cutting a new nuclear fuel deal with BWXT.
What’s happening:
- BWXT (NYSE: BWXT) has entered into a multi-year framework to supply high-assay low-enriched uranium TRISO fuel to private microreactor developer Antares
Why it matters:
- The new framework between BWXT and Antares sets an initial allocation of 1 metric tonne of uranium to be delivered to Antares, which can be increased over time
Going deeper:
- BWXT has publicly stated they will produce the high-assay low-enriched uranium TRISO fuel for Antares at their Lynchburg, Virginia facility
- Antares made waves in Silicon Valley when they raised $470M USD in a Series C financing round led by Paradigm and Caffeinated Capital to accelerate the deployment of their microreactors at military facilities
- Antares also previously struck a high-assay low-enriched uranium TRISO fuel deal with Centrus Energy (NYSE: LEU)
The fine print:
- No exact financial terms or delivery schedule has been publicly disclosed yet by BWXT
