Fusion Energy Startup Helion Energy Closes Latest Funding Round at $1.25B Valuation
The company raised $40 million in Series D funding, accelerating Helion’s ability to innovate new technology that will create a path to unlimited, clean electricity from fusion.
Redmond, WA, September 23, 2020—Helion Energy (Helion), a clean energy company committed to creating a new era of zero-carbon electricity through fusion generation, today announced it has been valued at $1.25B after its latest fundraise. Yesterday, Helion closed a $40 million Series D funding round led by investor and entrepreneur Dustin Moskovitz, Co-Founder and CEO of Asana and Co-Founder of Facebook. The new funding will enable the company to accelerate its work on its 6th fusion prototype, Trenta. Trenta is expected to demonstrate the scalability and reliability of Helion’s technology, providing evidence for a future with abundant, clean, and affordable electricity from fusion.
This latest fundraise brings the company’s total funding amount to $77.8 million since its founding in 2013. Previous investors include Mithril Capital Management, Capricorn Investment Group, Y Combinator, and Sam Altman. Helion has also received funding from the Department of Energy.
“The severity of the climate crisis combined with growing global energy demands means we need a dramatic acceleration in the scale-up of zero-carbon electricity technologies that can serve as baseload power,” said David Kirtley, Founder and CEO of Helion Energy. “We’re proud to be supported by investors who share our mission of completely reimagining how the world will meet its energy needs—through commercialized, abundant fusion power.”
By applying proven and patented technologies, Helion is working towards building the world’s first commercially-viable fusion power plant which runs on a fuel that can be derived from water. Their zero-carbon solution is capable of low-cost 24/7 power generation that replaces the energy sources the world currently relies on, enabling a future with limitless, reliable and affordable clean electricity.