The latest round values the company at $3 billion. Helion said $1.7 billion in follow on investments were committed if it can prove its technology works, which would be a major step toward making fusion technology a practical solution for generating power while emitting no carbon.
Helion’s newest prototype named Polaris will add a so-called regenerative energy technology to its fusion technology already developed to generate electricity, said Helion founder and CEO David Kirtley. The target date for demonstration is 2024. “There's a real future for fusion to be part of this climate change and clean energy discussion,” said Kirtley, adding that other fusion energy companies were also pushing the timeline forward. He said there were over 40 private fusion companies today.
Sam Altman, a well-known investor and artificial intelligence researcher in Silicon Valley who led the round, said the long-term goal of Helion is not just to create clean energy but electricity that costs just one cent a kilowatt hour.
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Clean energy firm Helion raises $500 mln in Sam Altman-led fundingVeteran investor and Silicon Valley executive Sam Altman led a $500 million funding round in clean energy firm Helion, a company that he also serves as an executive chairman.
Source: Reuters - 🏆 2. / 97 Read more »
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Source: Reuters - 🏆 2. / 97 Read more »
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