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