Helion Energy raises $500M to reach $3B valuation
Helion Energy raised $500 million in its latest funding round to reach a $3 billion valuation, the fusion energy tech startup said on Friday.
Helion intends to use funds raised to build a net positive electrical generator that creates more energy than it uses, in an effort to add it to its newest prototype Polaris that already uses fusion technology to generate electricity.
According to the company’s statement, it was promised an additional $1.7 billion in follow on investments conditional upon the efficacy of its technology, with the target date for demonstration set as 2024.
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