Doral Energy Tech Ventures
Assembly Line
Stellarator Fusion Company, Type One Energy Group, Raises $29 Million in First Financing, Appointing Christofer Mowry as CEO
Type One Energy announced the close of an over-subscribed $29 million financing round. This effort launches the company’s ambitious, partner-rich and capital-efficient FusionDirect program to commercialize its stellarator fusion technology. Breakthrough Energy Ventures (BEV), TDK Ventures and Doral Energy Tech Ventures co-led the round with additional cleantech investment from Darco, the Grantham Foundation, MILFAM, Orbia Ventures, Shorewind Capital, TRIREC, VAHOCA and others.
Type One Energy’s technical foundations provide a powerful springboard to achieve its mission. Founded by several of the world’s leading stellarator experts, Type One Energy also brings concentrated experience from renowned fusion science institutions, including the University of Wisconsin-Madison in the U.S., the Max Planck Institute for Plasma Physics in Germany and the Massachusetts Institute of Technology (MIT) for its work on advanced magnet technology. The stellarator is a fusion technology characterized by inherently stable and steady-state operations. Related to tokamaks, stellarators do not, however, require massive circulating electric currents to assist in creating the magnetic fields used to confine their fusion plasma. This makes stellarator technology less physically complex and easier to translate into a practical fusion power plant.