Type One Energy
United States · Climate tech · Industrial tech
Type One Energy develops stellarator fusion technology and works with industrial partners to design commercial fusion power plants.
Product
Type One Energy is developing a stellarator-based system for fusion power. It combines high-field superconducting magnets, computational design and advanced manufacturing to move the technology toward a commercial plant.
The Knoxville-based company’s Project Infinity at the Tennessee Valley Authority’s Bull Run site includes an engineering prototype called Infinity One and a planned 400-megawatt power plant called Infinity Two. These are development projects; the commercial plant is not generating electricity.
Established in 2019, Type One Energy works through partnerships with energy, engineering and manufacturing businesses. It aims to use their existing production infrastructure and operating experience rather than build every part of the supply chain itself.
Funding history
2 rounds · 2 with disclosed amounts| Announced | Round | Amount | Investors |
|---|---|---|---|
| Series B | $200M | Breakthrough Energy Ventures — LeadClutterbuck Capital — LeadLowercarbon Capital — ParticipantSiemens Energy Ventures — ParticipantSiteGround Capital — Participant | |
| Seed (final close) | $82.4M | Breakthrough Energy Ventures — LeadCentaurus Capital — ParticipantDoral Energy-Tech Ventures — ParticipantFoxglove Capital — ParticipantGD1 — ParticipantTDK Ventures — Participant |