Type One Energy is a fusion power startup focused on building stellarator-style magnetic confinement reactors capable of delivering gigawatt-scale, emissions-free electricity. Rather than owning and operating power plants itself, the company plans to sell key reactor technology to electric utilities and power providers. Its first commercial project, dubbed Infinity Two, is slated for the former Bull Run coal site under a deal with the Tennessee Valley Authority and is expected to produce about 350 MW of power in the mid-2030s. The approach promises the advantages of fusion—no long-lived radioactive waste and no meltdown risk—while meeting the surging demand from data centers and economy-wide electrification. Type One has attracted more than $160 million in venture funding to date, including support from Bill Gates’s Breakthrough Energy Ventures, Doral Energy Tech Ventures and TDK Ventures. The company recently secured an $87 million convertible note and is marketing a $250 million Series B at a $900 million pre-money valuation to accelerate reactor development and commercial deployment.

Total raised

$116M

Funding rounds

2

Latest round

Convertible Note

Latest activity

Jan 2026