Type One Energy raises $87 million and plans a stellarator fusion power plant with TVA

TechCrunch
TechCrunch
5h ago
Type One Energy raised $87 million in a convertible note and is raising a $250 million Series B while planning a first commercial fusion power plant with the Tennessee Valley Authority.
Type One Energy raises $87 million and plans a stellarator fusion power plant with TVA
A What happened
Type One Energy raised $87 million in a convertible note, bringing total venture investment to more than $160 million. The company is raising a $250 million Series B at a $900 million pre-money valuation. Type One signed deals with the Tennessee Valley Authority to site its first commercial power plant at the former Bull Run Fossil Plant location. The company plans to sell key technology to power providers rather than build and operate plants itself.
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Key insights

  • 1

    Type One Energy plans a licensing-style commercialization model: Type One Energy plans to sell key technology to TVA and other power providers that will build, own, and operate fusion plants.

  • 2

    Fusion is positioned as a clean power source with different risk and waste characteristics than fission: Fusion power plants are described as producing power without pollution, without significant radioactive waste, and without a risk of catastrophic meltdowns.

Takeaways

Type One Energy has new funding and an active Series B raise while advancing a TVA-sited plan for a 350-megawatt stellarator fusion power plant targeted for the mid-2030s.

Topics

Business & Markets Startups/VC Climate & Environment Energy Innovation Energy Transition

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