BAE Spinout Nuclear Turbines Raises $15M Seed for Reactors
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Nuclear Turbines, a Manchester company developing compact nuclear power systems, has raised $15 million (£15 million) in a seed round. IQ Capital led the financing, which was announced on July 27, 2026.
Rhapsody Venture Partners, Zero Carbon Capital and Empirical Ventures also took part. The company was spun out of BAE Systems and founded by Jeremy Owston, a former principal engineer there, and Professor Tim Abram, a nuclear engineer.
Its approach swaps the steam turbine systems found at the heart of a conventional plant for high temperature turbine technology adapted from jet engines and gas fired power stations. Nuclear Turbines says the design could produce electricity at about one fifth the cost of today’s nuclear plants, low enough to undercut fossil fuels.
The company plans to use the money to advance and validate its reactor design, build large scale test rigs and grow its team as it moves toward manufacturing its first fuel elements.