Type One Energy raises $200 million for fusion reactor development

US-based startup Type One Energy has raised $200 million in a Series-B funding round to advance its commercial fusion reactor ambitions. The investment includes participation from Siemens Energy’s venture unit, making it one of the largest Series-B raises in the fusion sector over the last five years. Total funding for the company now exceeds $400 million.

Type One Energy is developing a stellarator, a reactor design that utilizes complex, twisted magnetic fields to contain superheated plasma. The company is currently focused on its engineering prototype, Infinity One, located in Tennessee. Chief Executive Christofer Mowry stated that the capital will support the deployment of this prototype as the company works toward launching a commercial plant, Infinity Two, within the next decade.

Other investors in the round include Breakthrough Energy Ventures, Clutterbuck Capital, Lowercarbon Capital, and SiteGround Capital. The company aims to establish a manufacturing partnership with Siemens as it moves toward commercialization.