# Standard Nuclear

Canonical page: https://technooptimist.io/companies/standard-nuclear
Oak Ridge, Tennessee maker of TRISO fuel for small and micro reactors, built on Ultra Safe Nuclear's fuel line bought out of bankruptcy in 2024. It began making HALEU TRISO fuel in January 2026 and listed on the NYSE in July 2026.

## In brief

- Describes itself as the only independent US maker of TRISO fuel; reactor-agnostic, also radioisotope power for space and defense.
- Making HALEU TRISO fuel since Jan 2026 for Radiant's Kaleidos microreactor; ~500 kg/yr line, expanding past 2 t/yr.
- Raised $140M Series A (Jan 2026) and $150M in a July 2026 NYSE IPO; backlog up to $245M.

## Facts

- Founded: 2024
- Headquarters: US
- Status: public
- Listing: STDN (NYSE)
- Raised: $182M
- Frontiers: [Energy](https://technooptimist.io/energy.md) (Nuclear fuel)

## Programs

- [HALEU TRISO fuel production](https://technooptimist.io/energy/haleu-triso-fuel-production.md) (Energy): Pilot; next: Oak Ridge capacity above 2 tonnes a year. Making HALEU TRISO fuel at Oak Ridge (~500 kg/yr); expanding past 2 t/yr; Idaho site built.

## Technical approach

- **TRISO: Fuel that carries its own containment**: Tiny uranium kernels sealed in layers of carbon and silicon carbide ceramic that hold fission products in, even at high temperature.
- **Reactor-agnostic: One line, many reactor makers**: Sells fuel to several microreactor and SMR developers instead of tying the factory to one design.
- **Hub and spoke: Make in Tennessee, assemble in Idaho**: Fuel is made at Oak Ridge and finally assembled at a site in Idaho Falls near Idaho National Laboratory.

## Open problems

- **Customers are still pre-revenue** (active research): Most buyers are developers of first reactors; revenue was $3M in the year to March 2026 against up to $245M of backlog.

## Latest updates

- **16 Jul 2026**: Standard Nuclear lists on the NYSE as STDN after a downsized $150 million IPO. Standard Nuclear sold 10 million shares at $15, raising $150 million, and began trading on the NYSE under STDN on 16 July 2026. ([our story](https://technooptimist.io/stories/standard-nuclear-lists-on-the-nyse-as-stdn-after-a-downsized-150-741354bc.md) · [original source](https://www.orrick.com/en/News/2026/07/Standard-Nuclear-Announces-IPO))
- **16 Jun 2026**: Oklo and Standard Nuclear sign an MOU to turn recycled reactor material into TRISO fuel. Oklo and Standard Nuclear signed a non-binding memorandum to explore feeding uranium and transuranic material recovered at Oklo's planned recycling plant in Oak Ridge into Standard Nuclear's TRISO production. ([our story](https://technooptimist.io/stories/oklo-and-standard-nuclear-sign-an-mou-to-turn-recycled-reactor-material-d8ea786f.md) · [original source](https://www.businesswire.com/news/home/20260616604000/en/))
- **26 Jan 2026**: Standard Nuclear starts producing HALEU TRISO fuel and raises a $140 million Series A. Standard Nuclear began making HALEU TRISO fuel at its Oak Ridge plant after receiving its first HALEU from DOE's Savannah River Site, for Radiant's Kaleidos microreactor under DOE's Reactor Pilot Program. ([our story](https://technooptimist.io/stories/standard-nuclear-starts-producing-haleu-triso-fuel-and-raises-a-140-50666678.md) · [original source](https://www.businesswire.com/news/home/20260126420607/en/Standard-Nuclear-Begins-Production-of-Advanced-HALEU-Fuel-and-Raises-140-Million-in-Series-A-Funding))

## Funding

| Date | Round | Amount | Post-money | Leads |
| --- | --- | --- | --- | --- |
| 16 Jul 2026 | IPO (NYSE: STDN) | $150M |   | BofA Securities, Goldman Sachs |
| Jan 2026 | Series A | $140M |   | Decisive Point |
| Jun 2025 | Early funding (emerged from stealth) | $42M |   |   |

## Partners, customers and investors

- Radiant (customer): HALEU TRISO fuel for the Kaleidos microreactor under DOE's Reactor Pilot Program.
- Oklo (partner): June 2026 MOU to explore making TRISO fuel from material recovered at Oklo's planned Oak Ridge recycling plant.
- Framatome (partner): Joint venture formed in September 2025 to supply commercial TRISO fuel.
- Ultra Safe Nuclear (supplier): Source of its fuel-making assets, bought after USNC's October 2024 bankruptcy.
- Decisive Point (investor): Led the $140M Series A (with Chevron Technology Ventures, StepStone, XTX, a16z).

## People

- Kurt Terrani, Chief Executive Officer

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