Helion has raised series F funding to advance its development of fusion energy technology and aiming to commercialise fusion power.Helion, a US-based fusion energy company, has announced the close of an oversubscribed $425M Series F investment round, positioning the company at the forefront of the race to commercialise fusion power. This funding brings Helion’s total raised to over $1B and values the company at $5.425B post-money.The round saw participation from new investors, including Lightspeed Venture Partners, SoftBank Vision Fund 2, and a major university endowment, alongside returning supporters such as Sam Altman, Mithril Capital, Capricorn Investment Group, Dustin Moskovitz through the Good Ventures Foundation, and Nucor. The calibre of investors highlights the significant confidence in Helion’s ability to bring this revolutionary technology to market.
Bringing fusion energy closer to reality
Helion was founded in 2013 by David Kirtley, Chris Pihl, George Votroubek, and John Slough and is developing fusion energy technology with the potential to provide a virtually limitless, zero-carbon power source. Their Polaris prototype aims to demonstrate the first electricity generated from fusion. This milestone could significantly impact global energy markets and set a precedent for clean energy adoption worldwide.“We are on the brink of delivering a transformative energy solution that can meet the world’s increasing electricity demands while preserving U.S. energy leadership,” said David Kirtley, Helion’s co-founder and CEO. “Our mission has always been focused on rapidly developing and deploying safe, reliable fusion generators that provide abundant, affordable electricity. Earning the support of such a prestigious group of investors is a testament to our progress in both solving hard scientific and technical challenges and tackling the practical realities of building hardware to commercialise a brand-new technology.”For industries and individuals concerned about the future of energy, Helion’s advancements bring a sense of optimism. The possibility of abundant, zero-carbon electricity could revolutionise sectors from manufacturing to transportation, while reducing the global reliance on fossil fuels. This is especially critical as climate change continues to dominate discussions around the world’s energy future.
Leading the charge with cutting-edge fusion energy technology
Helion recently achieved a major milestone with its Polaris prototype, marking a significant step toward commercialising fusion energy. Polaris follows Helion’s Trenta prototype, which was the first private system to achieve fuel temperatures exceeding 100 million degrees Celsius — the threshold generally considered necessary for commercial fusion power generation.Ravi Mhatre, Managing Partner and co-founder of Lightspeed Venture Partners, expressed confidence in Helion’s approach: “Fusion has the potential to be a truly transformational technology for industry and society, and we see Helion as leading the race to bring that technology to market. After extensive due diligence, we’re very confident in Helion’s technology and leadership as the company moves from research and development into commercial production.”Polaris’s significance lies in its potential to demonstrate electricity generation through fusion, addressing the technical and scalability challenges of fusion development. This achievement would set a new standard for the energy sector and establish fusion as a viable, large-scale power source.
Building the fusion-powered future
Helion’s ambitions extend beyond technical breakthroughs. The company has already laid the groundwork for commercial deployment, with plans to establish its first fusion power plant in Washington state. Additionally, Helion has signed a power purchase agreement (PPA) with Microsoft to deliver electricity from a 50 MW fusion plant starting in 2028 and a customer agreement with Nucor to develop a 500 MW plant in the 2030s. These agreements underline Helion’s commitment to transforming fusion energy into a practical and scalable solution for global energy needs.These partnerships signal a significant step forward for fusion energy’s adoption in mainstream energy markets. The collaboration with Microsoft is particularly noteworthy as it marks one of the first major corporate commitments to fusion power, demonstrating confidence in Helion’s ability to meet its ambitious targets. Meanwhile, the agreement with Nucor highlights the potential for fusion energy to play a critical role in heavy industries, providing clean power for processes that traditionally rely on high-carbon energy sources.
A clean energy revolution in the making
Helion’s mission is bold yet clear: to generate zero-carbon electricity from fusion, creating a future with abundant and affordable energy. With the backing of leading investors and the ongoing success of its prototypes, the company is poised to lead a revolution in clean energy.
