Standard Nuclear has officially emerged from stealth mode, announcing $42 million in funding to advance its production of specialized nuclear fuel. Rather than a completely new endeavor, Standard Nuclear was founded upon critical assets acquired through a bankruptcy auction of Ultra Safe Nuclear Corporation (USNC), purchased for $28 million. Kurt Terrani, Standard Nuclear’s CEO, was previously vice president at USNC.
Decisive Point led the financing round, joined by investors Andreessen Horowitz, Crucible Capital, Fundomo, and Washington Harbour Partners. Standard Nuclear revealed that it already has tentative fuel sales commitments totaling approximately $100 million for 2027. The company is collaborating closely with several customers, including Nano Nuclear Energy, which also secured certain assets during the USNC bankruptcy proceedings, and Radiant Industries, a fellow Decisive Point portfolio company.
The acquired technology primarily focuses on TRISO fuel—a type of nuclear fuel pellet encased in multiple protective layers of carbon and ceramic. Although first developed in the 1950s, TRISO fuel remains relatively rare in modern nuclear reactors. Its key advantage lies in its resilience and reduced meltdown risk, an attractive quality making it a favored option among startups like Google-backed Kairos and Amazon-funded X-energy.
USNC was originally financed predominantly by investor Richard Hollis Helms and his family, who collectively invested over $100 million and provided an additional $24.7 million in loans. Helms, a former CIA officer noted for his covert international work, also established several other national security-oriented businesses; he passed away in 2024. USNC, despite significant financial backing, faced substantial challenges; alongside developing TRISO fuels, it explored multiple ambitious projects simultaneously, such as reactor designs, spacecraft nuclear propulsion, and space-bound heating systems.
By 2022, USNC sought additional external funding, but following Helms’s death and resulting financial difficulties—including reported payroll issues—the startup declared bankruptcy in October 2024. Shortly afterward, Decisive Point founder Thomas Hendrix guided Standard Nuclear in making a $28 million stalking horse bid for the fuel-related assets. The transaction finalized in early 2025, securing both technological assets and property that now forms Standard Nuclear’s main operational base.
In a public statement, Standard Nuclear acknowledged the advantages gained through the bankruptcy purchases, noting that these acquisitions significantly expedited its launch timeline.
