Helion Energy, an Everett, WA-based clean energy company committed to creating a new era of zero-carbon electricity from fusion, closed a $500m Series E funding.
The round, which includes the opportunity for an additional $1.7 billion dollars tied to Helion reaching key performance milestones, was led by Sam Altman, with participation from existing investors Dustin Moskovitz, Mithril Capital and Capricorn Investment Group.
The company intends to use the funds to complete the construction of Polaris, its seventh generation fusion generator.
Led by Dr. David Kirtley, Founder and CEO, Helion Energy is a fusion energy company focused on generating zero-carbon electricity from fusion. The company is building a fusion electricity demonstration facility based on pulsed non-ignition technology which will be capable of low-cost 24/7 power generation.
Sam Altman, the CEO of OpenAI and former President of Y Combinator, now serves as Helion’s executive chairman.