• Sharjah’s Crescent Ventures joined a USD 100M Series B for US nuclear tech startup Aalo Atomics.
• Aalo plans to build its first modular nuclear plant, targeting zero-power criticality by July 2026 as a key milestone.
• The US fast-tracked Aalo’s testing, positioning nuclear as a clean, scalable solution to power energy-hungry AI data centres.

Crescent Ventures

Sharjah-based Crescent Ventures participated in the USD 100 million Series B funding round for US-based nuclear technology company, Aalo Atomics. This round was led by Valor Equity Partners alongside Crescent Ventures, Fine Structure Ventures, Hitachi Ventures, and Crosscut Ventures.

Crescent Ventures is the corporate venture capital platform of Crescent Enterprises. It aims to back transformative technologies in fintech, enterprise software, digital health, climate solutions, and frontier tech. 

With the funding, Aalo seeks to build its first nuclear power plant aiming  to reach zero-power criticality by July 2026. Furthermore, with this it aims to demonstrate how its mass-manufactured modular reactors can provide an effective solution to powering AI data centres. 

“We now have the capital to build our first nuclear power plant, the Aalo-X, which we’re aiming to turn on *next summer*. This could be the first advanced nuclear power plant to achieve criticality in the US in decades,” said Matt Loszak, CEO, Aalo Atomics.

Powering Data Centres

The startup was recently selected by the US Department of Energy (DOE) for fast-tracked testing of its advanced nuclear technology. This will allow them work on proving the technology works safely thus expediting its commercial readiness. Moreover, the US has a need for nuclear technologies like Aalo’s to meet the rising energy demands of AI. 

The surge in AI adoption is driving unprecedented demand for reliable energy, and nuclear power can play a crucial role in meeting this demand with clean, scalable solutions,” said Sudarshan Pareek, Senior Vice President at CE-Ventures.