Type One Energy has completed a $200 million Series B financing round co-led by Breakthrough Energy Ventures and Clutterbuck Capital. Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital also participated in the round alongside other new investors.
Founded in 2019 by a team of stellarator researchers with roots at the University of Wisconsin-Madison, the Knoxville, Tennessee-based company develops fusion energy technology based on stellarators. Its approach combines computational physics, advanced manufacturing and superconducting magnet technology, with industrial partners involved in developing and deploying fusion power systems.
The new capital will support further development of Type One Energy’s stellarator technology and Project Infinity. The project includes Infinity One, an engineering prototype intended to validate the company’s design, and Infinity Two, a planned 400-megawatt commercial fusion power plant at the Tennessee Valley Authority’s Bull Run site in East Tennessee.
The financing follows Tennessee’s issuance of a fusion-specific byproduct material license to Type One Energy for its Bull Run project in August 2026.
The Series B brings Type One Energy’s total funding to more than $400 million, according to Reuters. The company did not disclose a valuation for the round.
