NuCube Energy, Inc. (“NuCube” or the “Company”) today announced that it has secured $13 million in funding as surging electricity demand from artificial intelligence, manufacturing, and industrial reshoring intensifies the race to deploy next-generation nuclear technology in the United States.

NuCube Energy, co-founded at Idealab Studio in 2023 by entrepreneur Bill Gross and nuclear engineer Dr. Cristian Rabiti, is developing a high-temperature modular microreactor designed to deliver both electricity and industrial heat up to 1,100 degrees Celsius. The company’s architecture is engineered for simplicity, inherent safety, and supply-chain efficiency—with the objective of enabling scalable deployment for industrial campuses, remote operations, and rapidly expanding data infrastructure.

“Over the past year, we have designed a series of technical validation tests to generate the data required to support regulatory engagement,” said Dr. Rabiti, Chief Executive Officer of NuCube Energy. “This funding allows us to perform those critical tests, advance toward licensing, and move decisively toward demonstration. Our focus is building a reactor platform that is not only safe and efficient, but also economically viable and scalable.”

NuCube is headquartered in Idaho Falls, Idaho, near Idaho National Laboratory, and is expanding its strategic footprint in Arizona—a state experiencing accelerating grid demand driven by semiconductor expansion, advanced manufacturing, and hyperscale data centers.

The financing was led by Arizona Nuclear Ventures, reflecting a broader strategy to position Greater Phoenix as a national hub for advanced nuclear innovation and deployment.

“Arizona’s growth across advanced industries is driving demand for reliable, always-on power,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “We’re excited to welcome NuCube’s expanding operations and support next-generation energy technologies that strengthen grid resilience and long-term competitiveness.”

That statewide commitment to strengthening energy infrastructure is being advanced at the regional level in Greater Phoenix, where innovation and economic development strategies are closely aligned.

“Advancing next-generation nuclear innovation in Greater Phoenix demonstrates the region’s leadership in transformative energy infrastructure,” said Christine Mackay, President and CEO of the Greater Phoenix Economic Council. “NuCube’s commitment to the region reinforces our standing as a globally competitive market for the advanced industries that are driving the world economy.”

“With Arizona Nuclear Ventures leading this round, NuCube gains more than capital,” said John Schreiber, General Partner of Arizona Nuclear Ventures, investor in Idealab Arizona, and board member of NuCube Energy. “Arizona has emerged as one of the most dynamic growth corridors in the country—spanning advanced manufacturing, semiconductor expansion, and hyperscale data infrastructure. The demand for reliable, scalable energy is accelerating rapidly, and we believe NuCube’s high-temperature microreactor platform is uniquely aligned with that opportunity.”

Gross emphasized the broader national implications of advanced nuclear deployment.

“The next era of nuclear must be fundamentally simpler if it is going to scale,” said Bill Gross, Co-founder, NuCube Energy. “As electricity consumption rises globally—driven by AI, electrification, and industrial reshoring—advanced nuclear will be essential to sustaining economic growth. NuCube is focused on technology reinvention: designing a novel, safer, simpler reactor that is elegant, licensable, and capable of delivering the high-temperature heat and reliable power modern industry demands. NuCube’s proprietary, no-moving parts design is truly revolutionary. Unlike many microreactor concepts focused primarily on remote electricity generation, NuCube’s platform is designed to address high-temperature industrial heat applications and achieve cost competitiveness on the broader grid. I am excited to see all the benefits that the new funding will yield.”

The round includes major investments from Emission Reduction Corporation (ERC), led by CEO Marin Katusa, a leading North American uranium and nuclear energy financier and best-selling author, and Rob Walton and Jordan Rose Walton.

Rob Walton expressed confidence in the company’s prospects. “Reliable, affordable energy is foundational to economic growth,” said Walton. “Technologies that can deliver dependable power at scale will be increasingly important. NuCube is pursuing an approach we believe is worth supporting.”

With this funding secured, NuCube will continue materials testing, refine its final design configuration, and advance regulatory engagement necessary to move toward demonstration and commercial deployment.