Fusion energy—once a perpetual “decades away” dream—has attracted a wave of private investment as towering magnets, advanced AI and cutting-edge materials bring commercial reactors into sight. Below, meet the 12 fusion startups that have each secured over $100 million, and learn how their diverse approaches could reshape our energy future.
1. Commonwealth Fusion Systems (CFS)
Raised: $2 billion
- Approach: High-temperature superconducting tokamak (SPARC & ARC)
- Goal: Demonstrate net-positive fusion by early 2030s using powerful REBCO magnets co-developed with MIT.
2. TAE Technologies
Raised: $1.79 billion
- Approach: Particle-beam-driven field-reversed configuration
- Goal: Extend plasma stability with injected beams, then extract heat to spin turbines.
3. Helion Energy
Raised: $1.03 billion
- Approach: Pulsed field-reversed collider with magnetic compression
- Goal: Generate electricity directly from fusion-induced currents—first demo in 2028, powered by Microsoft partnership.
4. Pacific Fusion
Raised: $900 million
- Approach: Electromagnetic inertial confinement using synchronized Marx generators
- Goal: Achieve fusion via coordinated EM pulses rather than lasers.
5. Shine Technologies
Raised: $778 million
- Approach: Versatile R&D in neutron testing, medical isotopes and waste recycling as fusion expertise bridge
- Goal: Build capabilities for eventual reactor design.
6. General Fusion
Raised: $440 million
- Approach: Magnetized target fusion with liquid-metal pistons compressing plasma
- Goal: Heat liquid metal blanket to produce steam for turbines.
7. Tokamak Energy
Raised: $336 million
- Approach: Compact spherical tokamak with high-temperature superconducting magnets (ST40)
- Goal: Test “fusion-plant-relevant” magnet performance in Demo 4.
8. Zap Energy
Raised: $327 million
- Approach: Shear-flow stabilized Z-pinch—plasma zapped by current to self-magnetically compress
- Goal: Create centimeter-scale pinch fusion in a steady, simple device.
9. Proxima Fusion
Raised: €185 million
- Approach: Stellarator with twisted, bulged coils for continuous plasma confinement
- Goal: Leverage Wendelstein-inspired design for long-duration fusion.
10. Marvel Fusion
Raised: $161 million
- Approach: Silicon-nanostructure-enhanced laser inertial confinement
- Goal: Use scalable semiconductor techniques for pellet compression.
11. First Light Fusion
Raised: $140 million
- Approach: Pivoted from own reactor to supply pulsed-power and targeting tech to fusion peers
- Goal: Commercialize critical hardware before building power plants.
12. Xcimer
Raised: $109 million
- Approach: Next-gen high-energy laser system (10 MJ) with molten salt walls
- Goal: Surpass NIF’s net-positive experiment and lay groundwork for commercial lasers.
Why the surge?
- Tech leaps: Powerful HPC, AI modeling, and REBCO magnets
- Scientific breakeven: U.S. DOE’s 2022 laser fusion milestone
- Diverse paths: Tokamaks, stellarators, pinches, and inertial schemes
Fusion’s promise of limitless, carbon-free baseload energy has captivated VCs and billionaires alike. While each approach faces formidable engineering hurdles, these well-capitalized pioneers are charging ahead—fueling optimism that fusion power may finally emerge from the lab and light up our grids.https://www.instagram.com/accounts/login/?
