This UK Nuclear Startup Just Raised $19.1M to Rethink Reactor Design

Jan de Vries · 2026-07-27

Nuclear power is having a moment. But let's be honest -- the industry has always had a problem with cost and time. A new UK startup, Nuclear Turbines, just raised a $19.1 million foundational round to tackle that head-on. Based in Manchester, the company is building compact, cost-effective nuclear systems that could change how we think about clean energy. The round was led by IQ Capital, with participation from Rhapsody Venture Partners, Zero Carbon Capital, and Empirical Ventures. ### What Makes Nuclear Turbines Different? Here's the thing about traditional nuclear reactors: they generate heat, then figure out what to do with it. That's backwards, according to co-founder Jeremy Owston. His team flipped the script. "We started with the cheapest way to generate power and designed a reactor to fit," Owston said. That approach means they're not stuck with expensive steam turbine systems. Instead, they're using high-temperature turbine technology you'd normally find in jet engines or gas-fired power plants. - Replaces steam infrastructure with compact gas turbine tech - Designed to be small enough for 'behind the meter' industrial sites - Aims to deliver clean power at a fraction of conventional nuclear costs ### The Team Behind the Tech Nuclear Turbines spun out of BAE Systems' Launchpad initiative in 2024. The founders bring serious credentials: Owston is a former BAE Systems Principal Engineer, and he's joined by Professor Tim Abram, a prominent nuclear engineer. They partnered with Empirical Ventures' venture studio to get the company off the ground. Alongside the funding, the company hired Lauren Dickerson as Chief Commercial and Strategy Officer. She spent over four years as Strategy Director at Centrica, so she knows the energy market well. ### Solving Nuclear's Biggest Challenges Conventional nuclear plants cost tens of billions of dollars and take decades to build. That's not going to work if we're serious about climate goals. Nuclear Turbines claims its modular architecture eliminates the need for traditional steam infrastructure, making the whole system much smaller and cheaper. The company says its reactors could power data centers, manufacturing facilities, and industrial sites directly -- no need to rely on the grid. That's a big deal for energy-intensive industries that are currently vulnerable to fossil fuel price swings. Jordan Billiald, Principal at IQ Capital, put it this way: "This is the first time I've seen an SMR design that genuinely solves the economic and sustainability equation." He noted that market dynamics, government ambition, and regulatory reform are creating unprecedented opportunity for companies like Nuclear Turbines. ### What's Next? The startup plans to use the funding to advance and validate its reactor design, build large-scale test rigs, and expand the team as it prepares to manufacture its first fuel elements. If they pull it off, the UK could become a serious player in the global nuclear race. For US readers watching the space, this is a company worth keeping an eye on. The approach could have implications for American energy markets too, especially as demand for clean, reliable power grows.