Marathon Fusion, a San Francisco, CA-based startup developing fuel processing technology for the fusion industry, raised $5.9m in seed funding.
The round was led by 1517 Fund and Anglo American, with participation from Übermorgen Ventures, Shared Future Fund, Malcolm Handley and other investors. Alongside a CREATE award from the Department of Energy’s ARPA-E, these investments bring Marathon Fusion’s total funding to $6.9M.
The company intends to use the funds to expand operations and its development efforts.
Since its founding in 2023, Marathon Fusion has been dedicated to making improvements to fuel processing efficiency. Its technology allows fusion power plants to operate with less tritium inventory, enabling smaller facilities and improved operational expenses.
Marathon Fusion was supported early on by the Breakthrough Energy Fellows program, which funds promising, early-stage ideas and technologies in the fight against climate change. By providing capital, mentorship, education, and access to the Breakthrough Energy network, the program helps bridge the gap from lab to market.
Now working to commercialize this technology to enable rapid, efficient and high-throughput processing of fusion fuel, Marathon aims to reduce onsite tritium inventories and improve plant economics, helping to ensure that fusion has a path to scale to its full potential.
The company has signed Letters of Intent with Commonwealth Fusion Systems and Helion Energy, two leading fusion startups aiming for the near-term deployment of fusion power plants.
Marathon Fusion is currently hiring for roles in San Francisco.
FinSMEs
18/07/2024