Type One Energy Group Closes $82.4M Seed Financing Round

Type One Energy, a Knoxville, Tenn.-based provider of sustainable fusion power, closed its $82.4m seed financing round.

Backers included Centaurus Capital, GD1, Foxglove and other funds from Australia. In addition to bringing new investors into the fusion sector, Type One Energy received commitments from long-time investors in the industry, including Breakthrough Energy Ventures (BEV) co-founder and founder of Centaurus Capital, John Arnold.

Led by CEO Christofer Mowry, Type One Energy Group applies proven advanced manufacturing methods, modern computational physics and high-field superconducting magnets to develop its optimized stellarator fusion energy system. The company’s FusionDirect program is pursuing a direct path to commercializing fusion energy. FusionDirect is intended to culminate in the launch of Type One Energy’s fusion pilot power-plant project with an owner/operating partner by 2030.

Type One Energy has four locations across North America and ongoing initiatives to further engage global talent, resources and energy transition stakeholders.

FinSMEs

02/08/2024