Mentioned:
One of America’s most exciting nuclear energy startups has just raised a new mega round of financing.
What’s happening:
- Nuclear power startup Helion Energy has raised $425M USD in a new Series F financing round
- The latest funding round saw participation from multiple notable investors, including OpenAI co-founder Sam Altman, SoftBank, Lightspeed Venture Partners and steel giant Nucor
By the numbers:
- Helion Energy has now raised more than $1B USD in venture capital funding since inception
Why it matters:
- Helion Energy is one of the most well funded and hyper ambitious nuclear energy startups in all of Silicon Valley, aiming to develop ultra low cost nuclear power through breakthrough fusion reactor technology that is based around first of its kind technology innovation
Going deeper:
- Helion Energy already has a highly notable deal with Microsoft (NASDAQ: MSFT) to supply them with 50 megawatt of nuclear energy as well as an existing deal with Nucor to develop a 500 megawatt nuclear fusion plant which is aiming to decarbonize steel production
The intrigue:
- Microsoft has been aggressively pushing into nuclear energy of late, previously making waves by striking a deal with Constellation Energy (NASDAQ: CEG) to restart the historic Three Mile Island nuclear power plant
