Type One Energy lands $200 million for fusion power push

Type One Energy, a Tennessee startup aiming to build a commercial fusion reactor, raised $200 million in new funding—bringing total backing to over $400 million. The firm thinks its outsourcing-heavy approach will help deliver a 400-megawatt fusion power plant by 2034 with less capital than rivals. Partners include Siemens Energy's venture arm, engineering firm AECOM, and Commonwealth Fusion Systems for critical technology.

• Series B brings funding total to $400 million+
• Targeting commercial fusion plant by 2034
• Using partner-supplied components over in-house manufacturing
• Backers include Siemens Energy, Bill Gates' fund, and others
• Deploying engineering prototype Infinity One