US microreactor developer Radiant Industries has raised more than $300m (€254m) in a new round of funding as it seeks to commercialise its technology and break ground early next year on a factory it says will be the first in the world to mass-produce nuclear power plants.

The California-based company said the latest capital raise was led by venture capital firms Draper Associates and Boost VC and included additional financial commitments from current investors. It said the fundraise was put together in just a few weeks.

The Radiant backing is the latest in a series of high profile fundraises for advanced nuclear companies. Last Energy recently said it had raised $100m. Three weeks ago, X-energy raised $700m and in August, Aalo Atomics raised $100m. Radiant itself raised $165m just six months ago.