Helion Secures $425M to Accelerate Fusion Power Development

The Seattle-area startup aims to deliver electricity to Microsoft by 2028 using its innovative fusion reactor technology.

Helion Energy raised $425 million in a Series F funding round, boosting its valuation to $5.4 billion, with participation from Sam Altman, SoftBank, and Lightspeed Venture Partners.
The funding will support the development of Helion's Polaris prototype and efforts to build the world's first commercial fusion power plant by 2028 for Microsoft.
Helion's unique approach to fusion power uses a field-reversed configuration reactor, which converts magnetic energy directly into electricity instead of relying on steam turbines.
The startup is addressing supply chain challenges by bringing critical manufacturing processes, such as capacitor and magnetic coil production, in-house to speed up development timelines.
Helion has already created fusion-relevant plasmas with its Polaris prototype and is actively working on site selection and permitting for its future commercial power plant.