Helion, a fusion technology company based in Everett, has secured $425 million in Series F funding. This investment includes contributions from both new and existing investors, such as Lightspeed and SoftBank alongside Sam Altman and Mithril Capital. Helion has raised over $1 billion to date, and its post-money valuation stands at $5.425 billion.
The money will help scale the commercialization of Helion’s fusion technology, advancing the development and deployment of fusion generators that provide affordable electricity. A key component of Helion’s strategy is the operation of Polaris, its seventh-generation prototype, which is expected to demonstrate the first electricity produced from fusion.
The company plans to site its first fusion power plant in the state of Washington. Moreover, Helion has also entered into a power purchase agreement with Microsoft, committing to deliver electricity from a 50 MW fusion plant by 2028.