Type One Energy, a fusion energy company, has secured a new round of funding amounting to $53.5 million. This brings the company’s total funding to approximately $82.5 million, with investors including Breakthrough Energy Ventures, Foxglove Ventures, and GD1. The company aims to accelerate the development of its fusion technology by partnering with third-party builders to bring its reactor design to market by the end of the decade.
CEO Christofer Mowry emphasized the need for a larger quantum of capital to accelerate the process. He also highlighted the importance of decarbonizing Southeast Asia, where a significant portion of the world’s population resides. Mowry stated that if the region is not decarbonized, the efforts in the field of clean energy would be futile.
Type One Energy’s reactor design is a stellarator, a variation of the more common tokamak design. The stellarator’s physical shape is defined by specially shaped magnets that confine the super-heated plasma necessary for fusion reactions. While the concept of the stellarator is not new, it requires advanced computing power to fine-tune the design. Mowry was convinced that the time for the stellarator had come after witnessing successful projects in Germany and at the University of Wisconsin-Madison.
The company has access to the Summit supercomputer at Oak Ridge National Laboratory, allowing them to perform significantly more calculations per second compared to when the Wendelstein 7-X stellarator was first designed over 30 years ago. This advanced computing power enables Type One to refine and optimize their reactor design.
Type One is also utilizing a magnet design licensed from MIT, similar to the one used by Commonwealth Fusion Systems. They have made modifications to the magnet cables to accommodate the unique twists and turns of the stellarator.
In the coming year, the company plans to finalize the core reactor design and begin building a prototype called Infinity One. This will coincide with the design process for a pilot reactor. Once the pilot design is finalized, Type One aims to license it to another company for construction. The goal is not only to prove that the technology works but to also validate the assembly and maintenance processes.
Mowry emphasized the importance of efficient shutdown, maintenance, and start-up procedures for fusion machines. If a machine takes too long to perform these processes, it would hinder its commercial viability. The focus is on ensuring that the technology is not only functional but also practical and accessible.
Type One Energy’s latest funding round and ambitious plans highlight the increasing optimism surrounding fusion energy. With significant investments and advancements in computing power, fusion technology is inching closer to becoming a reality. The company’s focus on partnerships and market readiness demonstrates a strategic approach to accelerate the adoption of fusion power and address the urgent need for sustainable, emission-free energy sources.
