U.S. Awards $900 Million to Peter Thiel-Backed Nuclear Startup to Boost Domestic Fuel Production

• The award is part of a **larger program to invest about $2.7 billion** over the next decade in domestic uranium enrichment efforts. • The goal is to reduce dependence on imported nuclear fuel, particularly from foreign sources that currently dominate global enrichment capacity. • Strengthening domestic enrichment is seen as key to ensuring stable fuel availability for both current reactors and future advanced nuclear designs.

• The Thiel-backed startup, founded in 2025, is focused on producing **high-assay low-enriched uranium (HALEU)** — a crucial fuel for advanced nuclear systems including small modular reactors and other technologies under development. • Its work involves establishing facilities to enrich uranium domestically, aiming to help the United States meet growing demand for nuclear fuel. • The company also secured access to federal property and existing material supplies to accelerate its production efforts.

• This government award signals a strategic emphasis on rebuilding a resilient supply chain for nuclear fuel within the United States. • As energy demand grows and interest in clean, reliable power increases, investments like this are intended to support both traditional nuclear capacity and future innovation in the sector. • The award is structured with strict milestones to ensure progress and accountability throughout the deployment period.