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Helion Raises $2.2B To Commercialize Fusion Energy

Helion Raises $2.2B To Commercialize Fusion Energy

11/05/21, 2:01 PM
Money raised
$2.2 billion
Helion Energy, a clean energy company committed to creating a new era of plentiful, zero-carbon electricity from fusion, today announced the close of its $0.5 billion Series E, with an additional $1.7 billion of commitments tied to specific milestones.

Company Info

Company
Helion Energy
Additional Info
Soon after, the company announced it had broken ground on building its factory to start the process of preparing for manufacturing of its seventh-generation fusion generator, which the company calls “Polaris.”TechCrunch was surprised to learn of the company’s $1.5 million round back in 2014, when the company said it would be able to get net power generation of fusion up and running within three years. Here we are seven years later, and it appears that Helion hit a couple of wobbles — but the company also found a focus along the way.“We ended up The low cost and high power availability mean that the company could start powering whole data centers as the default power source: “We are excited about being at the 50-megawatt scale, and being able to get electricity costs down to a cent per kilowatt-hour. Instead of going via water, the company decided to skip a step and use inductive energy instead. And so that’s been what we’ve been focusing on.”The company is aiming to be able to generate more electricity than what it takes to run the fusion reactor by 2024, and the CEO points out that the goal at this point is to generate electricity at a commercial scale.“Our 2024 date is not a key demonstration of the science at this point.