At IGF, we’re proud to support the startups pushing boundaries. One such startup is Zeno Power. They develop advanced nuclear batteries designed for the harshest environments. What’s special about it, you might ask? Well, they have recently secured $50 million in Series B funding. The Series B Funding was led by Hanaco Ventures and backed by notable investors, including Seraphim, Balerion Space Ventures, and Beyond Earth Ventures.

This round brings their total investment to $70 million and marks a major step toward commercializing next-generation radioisotope power systems.

Reinventing Nuclear Energy

Zeno was founded in 2018 at Vanderbilt University. The startup reimagined the traditional radioisotope thermoelectric generators (RTGs). Their technology is special for a reason: the systems use strontium-90. This is a more abundant byproduct of nuclear reactors. Such a step makes their technology a safer and more scalable power source. Traditionally, the system uses plutonium-238, which is less safe. Consequently, these power sources are ideal for maritime, defense, and space applications.

The startup has already tested a working strontium-based heat source in collaboration with the Pacific Northwest National Laboratory. Moreover, they plan to start a full-scale system by 2026 and deploy commercial units by 2027.

Strategic Growth and Global Impact

Zeno Power isn’t just about technology; they are about winning trust and safety. The startup has also secured over $60 million in contracts from NASA and the U.S. Department of Defense. With the help of their innovative technology, long-duration missions to the lunar surface will become possible. Moreover, it’s not just about space missions, it’s also about underwater infrastructure, and other “energy deserts” where traditional power fails.

While their team is expanding fast with 65 members now, they plan to grow to 100 team members. Interesting fact about them: retired Navy Admiral John M. Richardson joined their team, making him a member of the board of directors of the startup. Moreover, this reinforces the national security value of Zeno’s work.

Backing Bold Ideas at IGF

At IGF, we see how Zeno’s success proves that deep tech and long-term vision are all you need to create a real impact. We’re glad to see such startups succeed in their mission, bringing bright and safe ideas to life.

Let’s build the future together. Contact IGF now to bring your innovative ideas to life.