Focused Energy, a Darmstadt, Germany and Austin, Texas-based laser fusion startup, raised $15M in Seed funding.
The round was led by Prime Movers Lab with additional investment from Major League Baseball legend and entrepreneur Alex Rodriguez, serial entrepreneur Marc Lore, and investor Tony Florence.
The company intends to use the funds to accelerate growth and expand operations.
Led by Thomas Forner, CEO, Focused Energy provides a startup dedicated to developing fusion as a means of generating clean alternative energy for the growing needs of society. The company, supported by the TU Darmstadt and was founded in July 2021 after years of extensive research, will build a high repetition-rate laser test facility within the next 4 years to define the layout for the construction of the future ignition facility and ultimately for a prototype power plant that would be built at the beginning of the next decade.
The founding and management team includes entrepreneur and company builder Thomas Forner (CEO Focused Energy), former ThyssenKrupp top management engineer Dr. Anika Stein (COO Focused Energy) as well as the two laser and fusion experts Prof. Dr. Markus Roth (TU Darmstadt, CSO Focused Energy) and Prof. Dr. Todd Ditmire (UT Austin/Texas, CTO Focused Energy), both members of the American Physical Society and DOE defense physics award winner of 2013 and former Scientists of Lawrence Livermore National Laboratory (LLNL).
FinSMEs
24/09/2021