Although electric vehicles may have been the cleantech topic that dominated yesterday’s Super Bowl ads, fusion still seems to be the renewable energy du jour for private investors.
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The round comes less than a week after the Joint European Torus laboratory announced a breakthrough in developing practical nuclear fusion and after investors poured money into the fusion sector late last year.
- In December, Cambridge, Massachusetts-based Commonwealth Fusion Systems raised a huge Series B of more than $1.8 billion led by Tiger Global.
- One day earlier, British Columbia-based General Fusion raised a $130 million Series E led by Temasek Holdings and included an investment by Jeff Bezos.
- In early November, Everett, Washington-based Helion Energy closed a $500 million Series E led by Sam Altman—with an opportunity for an additional $1.7 billion tied to reaching performance milestones
While fusion energy—created when two atoms are merged—has been talked about for a century, many feel that recent tech advancements in things like switches and modeling software have made commercializing fusion energy something that is years away and no longer decades.
Illustration: Dom Guzman
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