Apr 26, 2022 - Energy & Environment

First look: Zeno Power raises $20 million in Series A

Illustration of a briefcase opened to reveal stars and planets inside
Illustration: Annelise Capossela/Axios

Zeno Power, a developer of advanced power systems that use radioisotopes, has raised a $20 million Series A funding round led by Tribe Capital, the company first told Axios.

Why it matters: The startup is aiming to scale up the production of small-scale nuclear batteries that can power spacecraft and undersea technologies for years.

Use cases would include powering deep-sea exploration, supporting remote Arctic operations and space missions.

Between the lines: Zeno, which was founded in 2018 by three Vanderbilt University students, aims to be the first to reach the commercial market with a unique new combination of affordability and low weight.

What they're saying: "We are really motivated by this idea of ubiquitous power," Zeno's Tyler Bernstein told Axios. He described this as "power being a commodity in all environments," including austere, far-flung areas.

Meanwhile, the company also announced two key hires: Timothy A. Frazier and Lindsey Boles, as senior mission director and vice president of engineering, respectively.

  • Boles most recently served as director of engineering at the Bill Gates-funded TerraPower, while Frazier was VP of government programs at GE Hitachi.
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