Helion Energy Raises $425 Million to Build World's First Nuclear Fusion Power Plant
The US-based startup, backed by Sam Altman, aims to create the world's first fusion power plant by 2028 with $425 million in new funding.
Helion Energy, a US-based startup focused on nuclear fusion technology, has raised $425 million in a Series F funding round, bringing its total capital raised since its inception in 2013 to over $1 billion.
The latest round of investment includes contributions from prominent backers such as Lightspeed Venture Partners, SoftBank, Vision Fund 2, as well as existing investors like Sam Altman, Capricorn Investment Group, Mithril Capital, Dustin Moskovitz, and Nucor.
The company is working to develop the world’s first nuclear fusion power plant, which it plans to build by 2028. Helion has already secured a purchase agreement with Microsoft, a major investor in Altman’s OpenAI.
Helion’s efforts are centered around achieving nuclear fusion, a process that powers the Sun, by merging atomic nuclei to generate energy, in contrast to fission used in conventional nuclear power plants.
Recently, Helion unveiled its seventh prototype, Polaris, in Everett, Washington.
Polaris operates at temperatures exceeding 100 million degrees Celsius, and the company is working toward generating electricity from the reactor.
The announcement of this funding coincides with advancements in nuclear fusion worldwide.
In China, scientists at the Experimental Advanced Superconducting Tokamak (EAST) fusion reactor, referred to as the 'artificial sun,' recently set a new record by maintaining plasma for 1,000 seconds, surpassing the 403-second record from 2023. While both Helion and the EAST project have yet to achieve ignition—where fusion creates its own energy—their progress represents significant milestones in the ongoing pursuit of fusion energy.
The latest round of investment includes contributions from prominent backers such as Lightspeed Venture Partners, SoftBank, Vision Fund 2, as well as existing investors like Sam Altman, Capricorn Investment Group, Mithril Capital, Dustin Moskovitz, and Nucor.
The company is working to develop the world’s first nuclear fusion power plant, which it plans to build by 2028. Helion has already secured a purchase agreement with Microsoft, a major investor in Altman’s OpenAI.
Helion’s efforts are centered around achieving nuclear fusion, a process that powers the Sun, by merging atomic nuclei to generate energy, in contrast to fission used in conventional nuclear power plants.
Recently, Helion unveiled its seventh prototype, Polaris, in Everett, Washington.
Polaris operates at temperatures exceeding 100 million degrees Celsius, and the company is working toward generating electricity from the reactor.
The announcement of this funding coincides with advancements in nuclear fusion worldwide.
In China, scientists at the Experimental Advanced Superconducting Tokamak (EAST) fusion reactor, referred to as the 'artificial sun,' recently set a new record by maintaining plasma for 1,000 seconds, surpassing the 403-second record from 2023. While both Helion and the EAST project have yet to achieve ignition—where fusion creates its own energy—their progress represents significant milestones in the ongoing pursuit of fusion energy.