Type One Energy, the US fusion energy developer backed by Bill Gates, announced the completion of a $200m (€177m) Series B financing round as it steps up efforts to develop its fusion reactor technology.
The round was co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with participation from Lowercarbon Capital, Siemens Energy Ventures, SiteGround Capital and other new investors.
The Tennessee, US-based company, backed by Gates through his climate tech fund, Breakthrough Energy Ventures, said the funding will support its FusionDirect technology development programme and continued execution of Project Infinity towards the world’s first commercial fusion plant at the Tennessee Valley Authority’s Bull Run, a former coal plant site, in east Tennessee.
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