Helion Energy has closed a $425 million Series F round, aiming to accelerate the commercialization of fusion energy and advance the construction of its first power plant in Washington State. Investors participating in the round include Lightspeed Venture Partners, SoftBank Vision Fund 2, and Sam Altman, among others.
Key investment for the future of fusion energy
This new capital injection brings Helion’s total funding to over $1 billion, valuing the company at $5.425 billion after the investment. The company, a leader in the development of nuclear fusion technology, seeks to offer a carbon-free, reliable and affordable source of energy.
David Kirtley, CEO and co-founder of Helion, highlighted the importance of this financial backing: “We are on the cusp of delivering a transformative solution to global electricity demand while maintaining U.S. energy leadership.”
Advances in fusion technology
Helion has begun operating Polaris , its seventh-generation prototype, with which it hopes to demonstrate the first generation of electricity from fusion . Its previous prototype, Trenta , had already reached the critical temperature of 100 million degrees Celsius, considered necessary for the commercial operation of a fusion reactor .
Fusion has the potential to transform industry and society. We are confident that Helion is leading the way in bringing this technology to market.
Said Ravi Mhatre, managing partner at Lightspeed Venture Partners
Strategic agreements and future objectives
Helion has signed a power purchase agreement (PPA) with Microsoft to supply fusion electricity from a 50 MW plant starting in 2028. The company has also entered into a partnership with Nucor to develop a 500 MW facility in the 2030s.
With this investment and the support of key players, Helion is positioning itself as a leader in the race to make fusion a commercial reality. The company will continue to expand its infrastructure in the US, with a view to accelerating the development of its fusion generators and responding to the growing global demand for clean energy .
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Source and photo: Helion Energy
