American fusion company Helion Energy announced that it has raised $425 million in funding. Interestingly, among the investors are OpenAI CEO Sam Altman and PayPal co-founder Peter Thiel. The company plans to use the funds to develop and launch a fusion reactor in the coming years.
The funds raised will be used to manufacture pulse capacitors, a key component of the reactor. Helion CEO David Kirtley noted that their technology allows for reactors that are more compact, economical and easier to build than traditional ones.
The fusion of hydrogen nuclei to form helium, known as nuclear fusion, is seen as one of the most promising paths to clean energy. The process produces no carbon emissions and, unlike traditional nuclear power plants, does not create long-lived radioactive waste. Such reactors are capable of generating significant amounts of electricity, enough to power small cities.
Achieving a stable nuclear fusion reaction that produces more energy than it consumes remains an insurmountable challenge. The largest project in this area is considered to be the International Thermonuclear Experimental Reactor (ITER). Originally scheduled to be launched in 2025, its launch has now been postponed to 2034, and the construction budget has increased to $22 billion.