Fusion startup Type One Energy raises $29 million in funding round

An oversubscribed round is another sign of merger maturity.

The beginning of a merger He’s betting the 70-year-old idea could help him leapfrog the competition, so he’s considering skipping the test phase and hooking his prototype reactor up to the grid.

The decades-old concept, known as the stellarator, is deceptively simple: instead of forcing the plasma into an artificial box, design a fusion reactor around plasma quarks. Easier said than done, of course. Plasma can be dynamic, and designing a “box” around the fourth state of matter is very complex.

That’s probably why the star cast spent years in desert fusion while a simple doughnut-shaped tokamak ate everyone’s lunch and almost all of their research money.

But not all. Type One energy is the brainchild of a handful of physicists immersed in the astral world. One built the HSX stellarator at the University of Wisconsin-Madison, two more experiments were conducted on it, and the fourth worked on the Wendelstein 7-X reactor, the world’s largest stellarator.

Together, they formed Type One in 2019 and rolled out their integration process at a steady pace. The company wasn’t stealthy — TechCrunch+ described it as a promising integration startup last year — but it was operating on a shoestring budget.

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