Companies
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Helion Energy
Energy
Helion Energy is a Washington state-based fusion energy company developing a distinctive pulsed, direct-electricity-generating fusion reactor design, with a widely publicized power purchase agreement with Microsoft.
$14.5B
+$155.99
1,308.82%
30 days ago
$11.92
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Helion Energy was founded in 2013 by David Kirtley, along with co-founders, pursuing a technical approach to fusion energy that differs meaningfully from the large, continuously operating magnetic confinement reactors, such as tokamaks, that many other fusion companies and government research programs have pursued. Helion's reactor design uses a pulsed approach, compressing and heating plasma repeatedly in rapid pulses rather than attempting to sustain continuous fusion reactions, and, distinctively among fusion companies, is designed to generate electricity directly from the fusion reaction's changing magnetic field, using a process resembling electromagnetic induction, rather than using the fusion reaction's heat to boil water and drive a conventional steam turbine generator, the approach used by nearly all other fusion reactor concepts as well as conventional nuclear fission plants. This direct electricity generation approach, if it works as intended at commercial scale, could potentially offer efficiency and cost advantages by skipping the thermal-to-mechanical-to-electrical energy conversion steps that steam turbine-based power plants require, though it remains a technically ambitious and unproven approach relative to more conventional fusion reactor designs being pursued by other companies and national research programs. Helion generated substantial industry and public attention in 2023 when it signed a widely publicized power purchase agreement with Microsoft, under which Helion committed to provide Microsoft with fusion-generated electricity beginning as early as 2028, an unusually specific and near-term commercial commitment for a fusion technology that, like all fusion approaches, has not yet been demonstrated to produce more energy than it consumes at commercial scale. The company has continued developing successive generations of its pulsed fusion prototype reactors, with its most recent prototype, called Polaris, intended to demonstrate net electricity production. Helion has raised very substantial venture funding, including significant investment from OpenAI CEO Sam Altman personally, reaching a valuation exceeding $5 billion, positioning it among the most prominent and well-funded private fusion energy companies alongside competitors including Commonwealth Fusion Systems and TAE Technologies.
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