Maritime Fusion, a Francisco fusion energy company founded by ex-Tesla engineers that is developing first-of-a-kind reactors for maritime and off-grid applications, has closed a $4.5m (€3.8m) seed round led by venture capital firm Trucks VC and several strategic angel investors.
A statement said the capital accelerates the company’s mission to develop its high-temperature superconducting (HTS) cable technology and bring fusion power to the commercial shipping industry before grid-scale adoption.
Maritime Fusion is developing a low-power-density tokamak reactor optimised for off-grid applications. It said the first viable commercial use cases require 10 times less power with zero emissions, far lower uptime requirements, and cost parity with alternative energy sources.
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