Last Energy raised over $100 million in an oversubscribed Series C in December 2025 led by the Astera Institute, building on $32 billion in commercial agreements and its February 2025 milestone as the first SMR to enter UK nuclear site licensing since 1978. The company is deploying its PWR-5 pilot at Texas A&M RELLIS Campus under DOE's Reactor Pilot Programme targeting 2026 criticality. Last Energy's PWR-20 is designed for rapid factory-built deployment targeting 2026-2027 commercial operation.
Astera Institute, JAM Fund, Gigafund, Haskell Company, AE Ventures, Ultranative, Galaxy Interactive, Woori Technology