Crowell & Moring Represents Antares in $96 Million Series B

San Francisco – December 2, 2025: Crowell & Moring represented Antares, an advanced nuclear energy startup building a small modular nuclear reactor, in connection with its $96 million Series B funding round.

The round was led by Shine Capital, with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and other investors. The round consists of $71 million in new equity capital and $25 million in debt financing for equipment, factory build-out, and fuel procurement. Antares has raised over $130 million in funding to date and has secured contracts with the U.S. Air Force, Space Force, Defense Innovation Unit, and NASA to advance its technology. With operations in California, Idaho, and South Carolina, Antares is working to demonstrate a low-power test reactor in 2026 at the DoE’s Idaho National Lab, and earlier this year conducted an electrically-heated demonstration of its reactor in partnership with NASA at their Marshall Space Flight Center in Huntsville, Alabama.

The Crowell deal team was led by Jon O’Connell with support from Justin Lurie, Justin Porter, and Jonathan Camello.