Search results for Helion Energy
Industry
Google backs German startup Proxima Fusion aiming for Europe\'s first commercial fusion power plant
Google has invested in German startup Proxima Fusion, which is aiming to build Europe’s first commercial nuclear fusion power plant. Proxima Fusion said it closed a 411 million euro funding round, valuing the company at $2.7 billion. The round was led by XTX Ventures and EastX Ventures, with RWE and Google as strategic investors. The company is developing a stellarator and targets an early-2030s demonstration plant and a commercial facility later in the decade.
Industry
Helion raises $465 million, accelerates goal to supply fusion power to Microsoft by 2028
U.S. fusion startup Helion Energy raised $465 million in new funding, valuing the company at $15.5 billion. Helion said it will use the money to accelerate construction of its first commercial power plant, the Orion project planned in Washington state, and aims to supply fusion electricity to the grid as early as 2028. The company has a power supply contract with Microsoft for its data centres and says it plans to deliver by 2028.
AI & Enterprise
OpenAI in talks with Helion on mega power purchase deal as AI electricity demand surges
Fusion startup Helion Energy is in early-stage talks to supply electricity to OpenAI, with discussions focused on OpenAI securing about 12.5 percent of Helion’s output. The terms under review include supplying 5 gigawatts by 2030 and 50 gigawatts by 2035. If the deal goes ahead, Helion would need major capacity expansion and large-scale reactor deployment. The talks also highlight intensifying competition among big tech firms to secure long-term power for data centres.