Type One Energy raised $200M to build a fusion power plant by 2034

Type One Energy, a Knoxville, Tennessee-based startup founded in 2019 to build fusion power plants, announced Tuesday morning that it has raised $200 million from investors.

The funding helps the startup move up the ranks of the top-funded fusion power companies. But fusion is a costly field to work in. It sits at the cutting edge of plasma physics, materials science, and advanced computation, and even $200 million doesn’t always go far.