Helion Energy
Helion Energy is building fusion power plants designed to generate electricity directly from fusion reactions.
The Company
Helion was founded in 2013 by CEO David Kirtley and three co-founders and is based in Everett, Washington. Its approach uses pulsed magnetic fields to compress fuel to fusion conditions and aims to recover electricity directly from the process. Its seventh-generation prototype, Polaris, is described by the company as the first privately funded fusion machine to operate with deuterium-tritium fuel.
In June 2026 Helion announced a $465 million Series G at a $15.5 billion post-money valuation, nearly triple its Series F valuation from early 2025. Thrive Capital led the round, joined by new investors including Lux Capital, Peak XV Partners and BoxGroup and existing backers including SoftBank Vision Fund 2 and Lightspeed. The company has raised more than $1.5 billion in total.
Why It Matters
Helion is among the most highly valued fusion companies and one of the few with a signed commercial customer. Its progress is a read-through for AI data-center power demand and for whether private capital can fund first-of-a-kind energy technology.
Valuation History
- ~$5B→Early 2025Series F
- $15.5B→Jun 2026$465M Series G
What Changed
Helion is founded by David Kirtley and three co-founders.
Helion signs an agreement to supply Microsoft with fusion electricity by 2028.
Helion breaks ground on Orion, a 50-megawatt plant in Malaga, Washington.
Helion announces a $465M Series G at a $15.5B valuation, led by Thrive Capital.
Helion says the Series G closed at $500M.
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