Type One Energy raises $200m Series B for fusion development
Breakthrough Energy Ventures and Clutterbuck Capital co-led the round supporting FusionDirect technology and Project Infinity in Tennessee.
Type One Energy closed a $200 million Series B on October 6, co-led by Breakthrough Energy Ventures and Clutterbuck Capital. Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital joined the round.
The funding supports the company’s FusionDirect development program and engineering work on Project Infinity at TVA’s Bull Run site. That project includes the Infinity One prototype and the planned 400-megawatt Infinity Two fusion power plant.
The financing follows Tennessee’s initial operating license for Project Infinity. Type One Energy is combining its stellarator technology with manufacturing and engineering partners, aiming to use established industrial infrastructure to reduce the cost and time needed to develop commercial plants.
Use of funds
Develop FusionDirect stellarator technology
Advance Project Infinity engineering and design
Build industrial partnerships