General Matter is restoring America's leadership in nuclear power through domestic uranium enrichment. The company was founded in 2024 to address a critical gap in the U.S. nuclear fuel supply chain, as America currently performs less than 1% of global enrichment and relies on foreign suppliers for almost all nuclear fuel. General Matter is developing a novel, scalable, and cost-competitive enrichment technology to produce both Low Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU), which is essential for advanced reactors and Small Modular Reactors (SMRs).
The company has secured significant federal backing, including a $900 million contract from the Department of Energy and a $2.7 billion commitment to rebuild domestic uranium enrichment capacity. General Matter is constructing a $1.5 billion enrichment facility in Paducah, Kentucky, creating 140 high-paying jobs and generating an estimated $71 million in annual economic benefit. The company emerged from stealth in April 2025 after being incubated within Founders Fund, with a team drawn from SpaceX, Tesla, Anduril, national laboratories, and the Department of Defense. General Matter aims to begin shipping enriched uranium by the end of the decade, positioning itself to support the growing demand for nuclear energy in AI data centers, advanced manufacturing, and next-generation reactors.