Peter Thiel Joins Board of Enriched Uranium Startup General Matter
His new startup, General Matter, has raised $50 million in a funding round led by the firm to make high-assay low-enriched uranium, or HALEU. As part of the deal, Founders Fund partner Peter Thiel is joining the board, an unusual move for the billionaire investor. The Los Angeles-based startup — which has been operating largely under the radar until now — aims to bolster the nation’s nuclear energy industry, and adds to the stable of Founders Fund partners who have started their own companies.
General Matter plans to produce HALEU by enriching uranium to 19.75% — just below the 20% threshold under regulations, meaning it’s not weapons-grade. The levels will be meaningfully higher than the 5% used in most nuclear power plants today. The company aims to help power the new generation of advanced reactors that researchers hope will come online over the next several years.