Valar Atomics builds helium-cooled, TRISO-fueled small modular reactors (SMRs) — specifically high-temperature gas reactors (HTGRs) — with the goal of mass-manufacturing them like cars rather than hand-building them like custom infrastructure. Their first pilot reactor, the 5-megawatt Ward 250, is operating in Orangeville, Utah, and became the first venture-backed reactor to achieve self-sustaining criticality outside a national lab. The company also fabricates its own TRISO fuel in-house at Orangeville. Engineering and corporate operations are headquartered in Torrance, California. Target buyers are AI data center operators needing dense, 24/7 carbon-free power, industrial manufacturers needing high-temperature process heat, and hydrogen producers. The overarching commercial thesis: factory-produce hundreds of reactors on "gigasites," driving per-unit cost down until nuclear power approaches the cost of production — something only possible at scale.