Nuclear Battery Maker Zeno Power Raises $50 Million in Series B Round

Insider Brief

• Zeno Power has raised $50 million in Series B funding to advance its commercial nuclear battery technology, bringing total investment to over $70 million.
• The company plans to deliver full-scale radioisotope power systems for maritime and space use by 2027, leveraging strontium-90 from Cold War-era waste.
• Zeno’s systems offer long-duration, maintenance-free power for extreme environments like the Arctic, deep ocean, and lunar surface, where solar and chemical batteries are impractical.

PRESS RELEASE – Zeno Power, the leading developer of nuclear batteries – radioisotope power systems – for frontier environments, announced its $50 million Series B funding round, led by Hanaco Ventures with participation from Seraphim, Balerion Space Ventures, JAWS, Vanderbilt University, RiverPark Ventures, Stage 1 Ventures, 7i Capital, Beyond Earth Ventures, and others.

Admiral John M. Richardson, USN (Ret.), former Chief of Naval Operations, has joined Zeno’s Board of Directors, bolstering the company’s national security leadership as it brings its technology to contested and energy-scarce domains.

Zeno has secured over $60 million in contracts from the U.S. Department of Defense and NASA to develop nuclear batteries for demanding maritime and space applications, such as seabed infrastructure, highly maneuverable satellites, and lunar landers. These programs leverage Zeno’s technology to deliver reliable, long-endurance energy in environments where traditional power sources fall short.

“With great power competition rising, the ocean floor, Arctic, and lunar surface are becoming the front lines of global security and economic progress – but they remain energy deserts,” said Tyler Bernstein, Co-Founder and CEO of Zeno Power. “With this round of funding, we’re on track to demonstrate full-scale systems in 2026 and deliver the first commercially built nuclear batteries to power frontier environments by 2027.”

This funding brings Zeno’s total capital raised to over $70 million, following its Series A led by Tribe Capital in 2022. Zeno plans to grow its team to over 100 employees across Seattle and Washington, DC, and invest in manufacturing capabilities to scale production and meet customer demand.

Admiral Richardson, who also led the Navy’s nuclear fleet, joins Zeno’s Board as the company prepares to demonstrate its first-of-a-kind nuclear battery for maritime applications through a U.S. Department of Defense contract.

“I’m proud to join Zeno Power at a strategic moment for nuclear innovation,” said Admiral Richardson. “Zeno’s nuclear batteries provide safe, reliable, and long-lasting power from the seabed to space, where traditional energy sources can’t reach. Competition is on in these newly contested domains, and Zeno will help power us forward to stay ahead.”

Zeno’s nuclear batteries convert the natural decay of radioactive material into thermal and electrical power, offering reliable power in areas where solar power or batteries fail. Over the past three years, the company has achieved key milestones: successfully demonstrating its first nuclear prototype at Pacific Northwest National Laboratory, securing an initial Strontium-90 fuel supply from the U.S. Department of Energy, and partnering with Westinghouse Electric Company to fabricate nuclear heat sources. These achievements lay the foundation for full-scale deployment across defense, space, and emerging commercial markets.

Zeno recently announced an agreement with iSpace-U.S. to jointly develop technologies that enable lunar missions to survive the harsh lunar night. The companies are targeting a demonstration mission as early as 2027 to validate this capability on the lunar surface.

“We invest in companies with the potential to define entire industries – and we believe Zeno Power is one of them,” said Lior Prosor, Partner at Hanaco Ventures. “Their nuclear batteries will have an immediate impact in defense and space, and long-term potential to transform how energy is delivered in remote and distributed environments. We’re proud to back a team with deep technical expertise, regulatory fluency, and the grit to execute on bold, mission-driven goals.”