Helion Energy
Helion Energy, based in Everett, WA, is a pioneering company in the energy sector focused on developing commercial fusion energy without high-level radioactive waste. It is known for its significant advancements with the Trenta and Polaris fusion prototypes.
Company Overview
Helion Energy, previously known as Helion, is an innovator in the energy sector located in Everett, WA, USA. The company operates in the Industrials industry, specifically within the energy sub-industry. Helion Energy is engaged in the development of advanced fusion technology, offering the promise of clean, safe, and abundant energy. With a team size of 150 and several high-profile collaborations, Helion Energy is making significant strides towards commercializing fusion energy solutions.
Fusion Technology Development
Helion Energy has achieved considerable milestones in fusion technology. The company's 6th prototype, Trenta, was the first privately-funded fusion device to achieve commercially-relevant fusion conditions. Trenta completed a successful 16-month testing campaign, demonstrating its ability to maintain operations continuously and achieving the required temperatures for commercial fusion operations. In 2020, Trenta reached plasma temperatures exceeding 100 million degrees Celsius. Trenta also tested with deuterium and showed evidence of deuterium-helium-3 fusion in 2021.
Collaborations and Partnerships
Helion Energy is involved in notable collaborations aimed at advancing fusion energy technology. It has partnered with Nucor to develop a 500 MW fusion power plant, which targets the decarbonization of industrial manufacturing processes. Additionally, Helion has signed a fusion power purchase agreement with Microsoft to build the world's first fusion power plant, offering the potential for unlimited clean electricity. These partnerships underscore Helion's commitment to leveraging fusion technology for practical, large-scale energy solutions.
Funding and Investment
To support its ambitious projects, Helion Energy has successfully raised significant capital. In its latest funding round, the company achieved a valuation of $1.25 billion, raising $40 million in Series D funding. Further boosting its development efforts, Helion announced a $500 million fundraise to accelerate the construction of its next prototype, Polaris. Expected to demonstrate net electricity from fusion in 2024, Polaris represents Helion's ongoing efforts to innovate and commercialize fusion energy technology.
Future Fusion Projects
Helion Energy is currently constructing Polaris, its 7th fusion prototype. This new device is anticipated to produce a small amount of electricity, marking a significant milestone as the first fusion machine intended to generate electricity from fusion. The project is set to demonstrate net electricity from fusion by 2024. Helion's forward-looking initiatives underscore its leadership in the fusion energy sector, as it continues to push the boundaries of what is possible with advanced energy technologies.