Fusion Developer Helion Raises $465 Million at $15.5 Billion Valuation to Build First Fusion Power Plant
esgtoday.comHelion, a fusion energy developer, has raised $465 million in Series G funding at a $15.5 billion valuation, nearly triple its prior round. The company aims to build the world's first commercial fusion power plant, with a 2028 target to supply Microsoft with carbon-free electricity from its Orion plant in Malaga, Washington. Fusion combines atoms to release energy without carbon emissions or long-lived radioactive waste. Helion's seventh-generation Polaris prototype recently operated with deuterium-tritium fuel and exceeded 150 million degrees Celsius. The round was led by Thrive Capital, with new investors including Bill Ford and Lux Capital. This funding signals growing investor confidence that fusion can move from lab to grid. But the technology still faces major hurdles in scaling, cost, and sustained output before it can meaningfully contribute to decarbonization. The 2028 timeline with Microsoft will be a key milestone to watch.