-38%

est. 2Y upside i

Climate TechSeries D+

Radiant is building the world’s first mass-produced portable nuclear microreactors. The company’s first reactor, Kaleidos, is a 1 MW failsafe microreactor that can be transported anywhere power is needed. Founded in 2020, Radiant plans to test its first reactor in 2026, with initial customer deployments beginning in 2028.

Rank

#3568

Sector

Nuclear Energy

Est. Liquidity

~2Y

Data Quality

Data: Low

Joining Radiant offers high risk and low expected return over 2 years due to pre-revenue status, preference overhang, and likely dilution.

Last updated: July 3, 2026

Bull (10%)+80%

Radiant successfully deploys Kaleidos reactors, Air Force contract leads to DoD follow-ons; exit valuation doubles to $3.62B despite 20% dilution from further capital raises.

Base (55%)-20%

Progress continues but commercial adoption lags; valuation stagnates near $1.81B; 20% dilution reduces common equity value by -20%.

Bear (35%)-100%

Regulatory hurdles or competition prevent revenue; exit below $524.75M preferred liquidation preference; common stock recovers nothing.

Est. time to liquidity~2.0 years

Preference Stack Risk

high

Funding Intensity

29%

Total preferred funding of $524.75M represents 29% of current valuation, giving preferred stockholders significant downside protection.

Dilution Risk

high

Runway likely requires additional capital within 24 months due to high capital intensity; we assume 20% dilution.

Secondary Liquidity

none

No secondary market activity reported; shares are illiquid.

Questions to Ask at the Interview

Strategic questions based on Radiant's data — designed to show you've done your homework.

  • 1

    “How does Radiant's licensing timeline compare to competitors like Oklo?”

  • 2

    “What is the unit economics of a Kaleidos reactor (cost, margin, payback period)?”

  • 3

    “Given the preference stack, what is the realistic exit scenario for common shareholders?”

Community

Valuation Sentiment

Our model estimates -38% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.