Steel Atlas Fund I

The Portfolio

10 companies building at the intersection of intelligence, energy, and the physical economy. Listed in order of investment.

Energy
Transmutex Nuclear Fuel & Radioisotopes
Invested July 2023

Building commercially viable high-power cyclotrons that breed nuclear fuel, transmute radioactive waste, and produce medical radioisotopes from a single technology platform. Three applications from one core technology, based in Switzerland.

Valar Atomics Scalable Nuclear Reactors & Syn-Fuels
Invested September 2024

Building next-generation nuclear reactors and synthetic fuels. The first startup in history to achieve nuclear criticality, reaching zero-power critical on their Nova Core reactor at Los Alamos.

Group1 Critical Mineral-Free Batteries
Invested July 2023

Developing potassium-ion batteries as a critical mineral-free alternative for grid storage. Uses abundant North American raw materials as a drop-in replacement for lithium-ion.

Data Infrastructure
GenLogs Freight Intelligence
Invested November 2023

Tracks every long-haul truck in the United States using a proprietary sensor network, fusing satellite imagery, mobile ad-IDs, and traffic cameras into a comprehensive freight intelligence platform.

ODIN Space Space Intelligence Systems
Invested May 2025

Deploys nano-sensors on satellites to detect sub-centimeter orbital debris, enabling the first data-driven insurance products for the space economy.

Autonymy Resilient Mesh Networking
Invested December 2025

Building resilient, device-mountable mesh networks that bond cellular, satellite, and RF into a single pipe for environments where commercial networks don't reach. Targets defense and industrial connectivity.

Intelligent Applications
Hedral AI Structural Engineering
Invested May 2023

AI-powered structural engineering platform serving the Navy, Air Force, and data center operators. Compresses structural analysis timelines from weeks to hours.

Substrate Industries AI Equipment Underwriting
Invested July 2025

Accelerates equipment OEM sales with a white-label buy-now-pay-later system, using AI to underwrite industrial equipment at the machine level. Replaces the weeks-long cycles of traditional equipment finance with instant decisions.

Panthyon AI Process Engineering
Invested October 2025

Building an agentic operating system for the 30,000 continuous-process plants that keep the global economy running. Compresses Management of Change workflows from weeks to minutes using AI agents that reason over operational data.

Physical Production
Framework Automation Automated Manufacturing
Invested June 2025

Reshoring American knitwear manufacturing using 3D whole-garment knitting machines orchestrated by a software platform that eliminates labor-intensive linking and sewing steps. Their first factory in Culver City achieves cost parity with Asian mills.