Sharjah CE-Ventures invests in US nuclear startup

 

Sharjah headquartered CE-Ventures, the venture capital unit of Crescent Enterprises, has invested in US nuclear technology firm Aalo Atomics, highlighting its focus on supporting cutting-edge solutions for the world's increasing energy needs.

The investment is part of Aalo Atomics' Series B round worth USD 100 million, led by Valor Equity Partners, with participation from Fine Structure Ventures, Crosscut Ventures, and Germany-based Hitachi Ventures.

The capital will be used to construct Aalo's first nuclear power plant, the Aalo-X, slated to reach zero-power criticality by July 2026.

Established in 2022, Aalo was chosen by the US Department of Energy to have its next-generation nuclear reactors fast-tracked for testing. CEO Matt Loszak stated, "This round allows us to construct our first plant by summer next year and prove nuclear can fuel the AI revolution sustainably."

Key Highlights:

• CE-Ventures joins USD 100m Series B for US startup Aalo Atomics
• Funding to build Aalo-X nuclear plant by July 2026
• Investment aligns with CE-Ventures’ clean energy strategy

"AI adoption is fueling unprecedented demand for secure energy, and nuclear power has the potential to meet that demand with scalable, clean solutions. CE-Ventures' investment in Aalo Atomics reflects the firm's strategy of investing in revolutionary technology solutions that address some of the world's most urgent problems." stated Sudarshan Pareek, Senior Vice President of CE-Ventures.

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The International Energy Agency predicts electricity demand from AI-optimised data centres will quadruple by 2030. Regional energy players, in the meantime are pivoting, Masdar recently shifted capacity from its USD 6 billion solar to green hydrogen project in Abu Dhabi to powering data centres, a changing priority.

In taking an investment stake in Aalo, CE-Ventures is positioning itself at the vanguard of clean energy solutions necessary for the digital economy.