Knoxville, October 6, 2026: Fusion energy company Type One Energy has completed a $200 million Series B financing round to support development of its stellarator technology and advance Project Infinity, its planned commercial fusion project in Tennessee.
The financing was co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with new participation from Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital, along with other investors. The funding will support the company’s FusionDirect technology programme and work on Project Infinity at the Tennessee Valley Authority’s Bull Run site in east Tennessee.
Project Infinity comprises the Infinity One engineering prototype and the planned 400 MWe Infinity Two commercial fusion power plant at the Bull Run Energy Complex. Type One Energy said its approach relies on partnerships with established companies across financing, manufacturing, engineering and operations rather than developing all of those capabilities internally.
The company is using the latest financing to continue work on its stellarator technology and the design of Project Infinity. Its strategy is based on the view that commercialising stellarator fusion now depends increasingly on engineering and industrial development, following decades of research into the underlying plasma physics.
The Series B comes shortly after Type One Energy received its initial operating licence from the State of Tennessee for Project Infinity. The company said the licence follows the first fusion power plant-specific licensing process established under Tennessee’s regulatory framework and aligned with national standards.
Type One Energy CEO Christofer Mowry said the new capital would allow the company to continue its technology and project-development work while collaborating with industrial partners.
The company is also pursuing a second commercial fusion deployment through the UK Infinity Fusion Consortium, which includes Tokamak Energy, AECOM, Sheffield Forgemasters and Barclays.
Founded in 2019 and venture-backed from 2023, Type One Energy is developing an optimised stellarator fusion system using advanced manufacturing, computational physics and high-field superconducting magnets.
source:Type One Energy Completes $200M Series B Financing – Type One Energy
