The round was co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with participation from Lowercarbon Capital, Siemens Energy Ventures, SiteGround Capital and other new investors.

Type One Energy Group is mission-driven to provide sustainable, affordable fusion power to the world. Established in 2019 and venture-backed in 2023, the company is led by a team of globally recognized fusion scientists with a strong track record of building state-of-the-art stellarator fusion machines and veteran business leaders experienced in scaling companies and commercializing energy technologies. Type One Energy applies proven advanced manufacturing methods, modern computational physics and high-field superconducting magnets to develop its optimized stellarator fusion energy system. Its FusionDirect™ development program pursues the lowest-risk, shortest-schedule path to a commercial fusion power plant over the coming decade, using a partner-intensive and capital-efficient strategy. Type One Energy is committed to community engagement in the development and deployment of its clean energy technology.