Crowell & Moring Represents Antares in $470 Million Series C

August 4, 2026: Crowell & Moring represented Antares, a nuclear fission energy company developing compact microreactors for defense and space applications, in connection with its $470 million Series C funding round. The round was co-led by Paradigm and Caffeinated Capital, with participation from Point72 Ventures, Shine Capital, Industrious Ventures, and others.

The capital, which includes $370 million in equity and $100 million in debt, comes after Antares took its Mark-0 reactor critical on June 4, 2026 at Idaho National Laboratory under the DOE Reactor Pilot Program, which was the first privately developed non-light-water reactor to achieve criticality in the U.S. in more than four decades. The Series C is intended to fund the Mark-1 electricity producing reactor in 2027 and initial deployments to defense customers in 2028.

The Crowell deal team was led by Jon O'Connell and included Justin Lurie, Justin Porter, Jonathan Camello, Minjoo Rho and others.