Peter Thiel joins Board of General Matter
As The Economist reports, Peter Thiel is focusing on reviving "atoms" (hardware) to boost American innovation, emphasizing the importance of nuclear energy. In 2015, he advocated for a "new atomic age," and now, through his venture capital firm Founders Fund, he is backing General Matter, a startup aiming to become the first privately funded company to enrich uranium in the U.S. The company plans to develop technology for advanced nuclear reactors, with the goal of enriching uranium to higher levels than commercially available today.
General Matter is part of a new wave of patriotic startups backed by investors like Thiel and Andreessen Horowitz. It seeks to reduce America's reliance on Russian uranium and compete with China in energy and AI by using exclusively American technology. With a team that includes former SpaceX engineers, it hopes to play a crucial role in providing nuclear fuel for small modular reactors (SMRs), which are expected to power the AI revolution.
The firm has already attracted government attention, securing a spot in a Department of Energy consortium and competing for a $2.7 billion contract. However, challenges remain, such as the capital-intensive nature of nuclear fuel production and competition from established firms. Despite these hurdles, Thiel's track record of investing in high-risk, high-reward ventures like Palantir and Anduril suggests General Matter could succeed in reshaping the nuclear industry for national security and energy independence.
