German fusion energy startup Focused Energy has raised an oversubscribed $240 million Series A funding round, one of the largest early-stage investments in the fusion industry. With this round, the companyโs total private funding has reached $300 million, along with $200 million in grants.
Focused Energy is developing an inertial confinement fusion reactor, which uses powerful lasers to compress fusion fuel and generate enormous amounts of energy. The companyโs design is inspired by the breakthrough experiments at the National Ignition Facility operated by Lawrence Livermore National Laboratory in California.
The startup plans to build its first demonstration plant, called Lighthouse, at the site of a decommissioned nuclear power station in Germany. Energy giant RWE was the lead investor in the funding round.
