Valar Atomics, a startup in the nuclear energy sector, has secured $19 million in seed funding to develop its innovative small modular nuclear reactors (SMRs). The financing round was led by Riot Ventures, with participation from AlleyCorp, Initialized Capital, Day One Ventures, and Steel Atlas. Valar's SMR technology utilizes a helium-cooled, high-temperature gas reactor, which enables the production of hydrogen efficiently and the creation of low-carbon synthetic fuels. The company plans to build hundreds of SMRs at off-grid sites to power data centers and industrial plants, with an initial contract to build a reactor in the Philippines. Valar's approach involves creating a 'gigafactory' for SMRs, similar to those used for battery production, to drastically reduce construction costs. The company's team includes experienced professionals in the nuclear industry, such as Mark Mitchell, former president of Ultra Safe Nuclear Corporation. With the raised funds, Valar Atomics aims to pilot a test-scale reactor and build two full-scale reactors before integrating them into a larger system. The development of SMRs has gained significant attention in recent years, with companies like X-energy, Newcleo, and Oklo raising substantial funds for similar projects. The U.S. Inflation Reduction Act and China's investment in new nuclear plants have also created a favorable environment for nuclear energy startups like Valar Atomics.