Helion Raises $465M in Series G Funding Led by Thrive Capital

The round also saw participation from additional new investors, including Alta Park Capital, Anti Fund, BoxGroup, Lux Capital, Peak XV Partners, and Ford Motor Company Executive Chairman Bill Ford, plus existing investors.

It also included Capricorn Technology Impact Funds, Lightspeed Venture Partners, Mithril Capital, Dustin Moskovitz through Good Ventures Foundation, SoftBank Vision Fund 2, and a university endowment fund. The company is valued at $15.5 billion.

The company plans to use the funds to expand its operations and accelerate its development efforts.

The Series G announcement follows several major milestones achieved by the company’s 7th-generation Polaris prototype, along with continued progress on Orion, its first fusion power plant. Polaris became the first privately funded fusion machine to operate using deuterium-tritium fuel and also set a new record for plasma temperature, exceeding 150 million°C. Orion is currently being built in Malaga, Washington.

“Fusion is no longer a future idea, but a path to clean, reliable, affordable always-on electricity at scale. This funding accelerates our ability to deliver on that promise,” said David Kirtley, CEO of Helion. “This support of new and existing investors is a strong signal they believe, as we do, that Helion is best positioned to generate electricity from fusion for customers this decade, not the next, and that we have the right technology and strategy to build the commercial fusion market over the long term.”

“At Thrive, we aim to invest in category-defining companies,” said Vince Hankes, partner at Thrive Capital. “We believe Helion has the technical ambition, pace of execution, and commercial orientation to define a new category of energy. We are deeply inspired by David and the Helion team’s mission to bring clean, reliable fusion power to the world, and honored to support them for the long arc ahead.”

“Abundant, affordable energy is essential for the future of innovation,” said Ravi Mhatre, co-founder of Lightspeed Venture Partners. “Commercializing fusion will be critical to meeting the world’s growing energy needs and no company is better positioned to do that in the near term than Helion. We are happy to renew our commitment to Helion and participate in this round.”

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“Every generation has a small number of companies that expand what the world believes is possible. Helion is one of them,” said Brandon Reeves, partner at Lux Capital. “As power capacity becomes central to AI and industrial competitiveness, Helion is moving fusion from a scientific milestone to commercial reality and building one of the most important companies for America’s energy and AI future."

About Helion

Founded by David Kirtley, Anthony Pancotti, George Votroubek and Chris Pihl, Helion Energy is a fusion energy company based in Everett, Washington, focused on generating zero carbon electricity through fusion. The companys mission is to build the world’s first fusion power plant, enabling a future with unlimited clean, affordable and reliable energy for everyone.

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