Bill Gates-backed Type One Energy raises $87M ahead of $250M Series B

Fuelling the Future: Bill Gates-Backed Type One Energy Secures $87M Ahead of Massive $250M Series B

The race for commercial fusion energy is heating up, and Type One Energy is positioning itself as a frontrunner. The Madison-based fusion startup recently announced a significant milestone, raising $87 million in an expansion of its Series A funding. This capital injection serves as a strategic bridge as the company prepares to launch a monumental $250 million Series B round later this year.

With heavy hitters like Bill Gates’ Breakthrough Energy Ventures (BEV) leading the charge, Type One Energy is leveraging stellarator technology to solve the world’s most pressing energy challenges. This latest funding round signals a high level of investor confidence in the company’s ability to deliver carbon-free, baseload power at scale.

Strategic Backing and Global Investment Interest

The $87 million funding round saw participation from a diverse group of high-profile investors. In addition to Breakthrough Energy Ventures, the round included contributions from GV (Google Ventures), TDK Ventures, Eni Next, and GD1. The international nature of these investors underscores the global importance of achieving a breakthrough in fusion power.

Fusion energy—the same process that powers the sun—has long been the "holy grail" of the energy sector. Unlike nuclear fission, fusion produces no long-lived radioactive waste and carries no risk of a meltdown. As global energy demands soar—driven largely by the expansion of AI data centers and the electrification of transport—the need for a clean, reliable, and infinite energy source has never been more urgent.

The Stellarator Advantage: Why Type One Energy is Different

While many fusion startups focus on the "Tokamak" design (a donut-shaped vacuum chamber), Type One Energy utilizes stellarator technology. Traditionally, stellarators were considered more difficult to build due to their complex, twisted magnetic coils. However, Type One is using advanced computational modeling and 3D printing techniques to overcome these engineering hurdles.

• Steady-State Operation: Unlike tokamaks, which often operate in pulses, stellarators are inherently capable of steady-state operation, making them more suitable for constant power grid contributions.
• Plasma Stability: The unique geometry of a stellarator minimizes the risk of plasma disruptions, a common challenge in other magnetic confinement fusion devices.
• Infinity One Project: The new funds are earmarked for the development of "Infinity One," the company's pilot-scale stellarator device designed to verify the physics and engineering required for a commercial plant.

Relocating to the Heart of Innovation: Oak Ridge, Tennessee

In a move to accelerate its R&D timeline, Type One Energy recently announced the relocation of its headquarters and the construction of its flagship fusion machine at the Oak Ridge National Laboratory (ORNL) in Tennessee. This partnership provides the company with access to world-class supercomputing resources and some of the brightest minds in nuclear science.

The synergy between Type One’s private innovation and the public sector’s infrastructure is expected to significantly reduce the "time-to-market" for their fusion prototypes. Tennessee is rapidly becoming a hub for clean energy technology, and Type One’s presence further solidifies this status.

Roadmap to a $250M Series B

The $87 million bridge round is merely the prelude. Type One Energy has confirmed it is laying the groundwork for a $250 million Series B. This upcoming round will be one of the largest in the fusion sector to date, intended to fund the full-scale construction of commercial demonstrators and the expansion of their engineering teams.

Investors are increasingly looking toward fusion as a long-term ESG (Environmental, Social, and Governance) play. With Bill Gates’ backing, Type One has the "seal of approval" that many institutional investors require before committing large sums to high-frontier technologies.

Challenges and the Path Forward

Despite the influx of capital, the path to commercial fusion remains fraught with technical challenges. Achieving "net energy gain" (producing more energy than is required to start the reaction) in a sustained manner is the ultimate test. Type One Energy believes that its Fusion-Direct program—which integrates stellarator physics with high-temperature superconducting (HTS) magnet technology—is the most viable path to commercialization by the 2030s.

As the world looks for ways to meet net-zero targets without sacrificing economic growth, Type One Energy’s progress represents a beacon of hope. With $87 million in the bank and a $250 million goal in sight, the company is well-funded to turn the dream of star-power on Earth into a reality.

Key Takeaways

• Funding: $87M raised as an extension to Series A.
• Next Step: Target of $250M for the upcoming Series B round.
• Core Tech: Advanced Stellarator fusion using HTS magnets.
• Location: Strategic expansion at Oak Ridge National Laboratory.
• Major Backer: Bill Gates via Breakthrough Energy Ventures.

Stay tuned to our Markets section for more updates on clean energy investments and the future of the global power grid.