Helion, a Washington-based fusion energy company, announced a $465 million Series G funding round to accelerate the commercial deployment of fusion energy, expand manufacturing capacity, and strengthen its ability to deliver clean electricity to customers. The financing values the company at $15.5 billion post-money and brings Helion’s total funding raised to date to $1.5 billion.
The investment round was led by Thrive Capital and included participation from new investors Alta Park Capital, Anti Fund, BoxGroup, Lux Capital, Peak XV Partners, and Ford Motor Company Executive Chairman Bill Ford. Existing investors participating in the round included Capricorn Technology Impact Funds, Lightspeed Venture Partners, Mithril Capital, Dustin Moskovitz through Good Ventures Foundation, SoftBank Vision Fund 2, and a university endowment fund.
The new capital will support Helion’s efforts to scale manufacturing capacity in the United States, accelerate the deployment of its fusion technology, and expand operations as demand for reliable power continues to grow globally.
The funding announcement follows several recent milestones achieved by Helion’s seventh-generation Polaris prototype and continued progress on Orion, the company’s first fusion power plant. Polaris became the first privately funded fusion machine to operate using deuterium-tritium fuel and surpassed the company’s previous plasma temperature record by exceeding 150 million degrees Celsius. Meanwhile, Orion is currently under construction in Malaga, Washington.
Helion is focused on developing fusion technology capable of generating zero-carbon electricity at commercial scale. The company’s long-term goal is to build the world’s first fusion power plant and enable abundant clean energy for future generations.
KEY QUOTES:
“Fusion is no longer a future idea, but a path to clean, reliable, affordable always-on electricity at scale. This funding accelerates our ability to deliver on that promise. This support of new and existing investors is a strong signal they believe, as we do, that Helion is best positioned to generate electricity from fusion for customers this decade, not the next, and that we have the right technology and strategy to build the commercial fusion market over the long term.”
David Kirtley, CEO, Helion
“At Thrive, we aim to invest in category-defining companies. We believe Helion has the technical ambition, pace of execution, and commercial orientation to define a new category of energy. We are deeply inspired by David and the Helion team’s mission to bring clean, reliable fusion power to the world, and honored to support them for the long arc ahead.”
Vince Hankes, Partner, Thrive Capital
“Abundant, affordable energy is essential for the future of innovation. Commercializing fusion will be critical to meeting the world’s growing energy needs and no company is better positioned to do that in the near term than Helion. We are happy to renew our commitment to Helion and participate in this round.”
Ravi Mhatre, Co-Founder, Lightspeed Venture Partners
“Every generation has a small number of companies that expand what the world believes is possible. Helion is one of them. As power capacity becomes central to AI and industrial competitiveness, Helion is moving fusion from a scientific milestone to commercial reality and building one of the most important companies for America’s energy and AI future.”
Brandon Reeves, Partner, Lux Capital
