US nuclear fuel startup Standard Nuclear has raised $140m (€117m) to boost production of fuel for advanced reactors in an effort to expand the US energy supply chain amid surging interest in fission power.

The Series A round was led by venture capital firm Decisive Point and included new investors Chevron Technology Ventures and StepStone Group, with existing backers Andreessen Horowitz, according to a statement.

The Tennessee-based company, founded one year ago, began fabricating Triso fuel this month at its facility in Oak Ridge, Tennessee using high-assay low-enriched uranium (Haleu), a more potent form of uranium that will be used for many advanced reactors. Triso – or “tristructural-isotropic” – is an advanced, highly robust nuclear fuel designed to withstand extreme temperatures without melting.