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- Type One Energy
Type One Energy Valuation, Funding & Investors
Type One Energy is valued at $900M as of January 2026.
Last Type One Energy valuation
$900M
Undisclosed stage · Jan 2026
Last Type One Energy funding round
$1M
Strategic investment · Sep 2026
Cumulative funding Type One Energy raised
$171M
across 4 funding rounds
Key investors in Type One Energy
Breakthrough Energy Ventures
GD1
TDK Ventures
Doral Energy-Tech Ventures
Centaurus Capital
Foxglove Capital
About Type One Energy
Type One Energy Group is a Knoxville-headquartered fusion energy developer. Formed in 2019, it builds high-temperature superconducting stellarator reactors using advanced manufacturing and computational design. The FusionDirect program targets a prototype by 2025 at the Oak Ridge National Laboratory site, partnering with utilities for grid-scale power deployment.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$900M (Jan 2026)
Type One Energy Valuation
Type One Energy is currently valued at $900M, based on its undisclosed-stage round in January 2026.
Type One Energy valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2026 | Undisclosed stage | $900M |
Type One Energy Funding History
Type One Energy has raised a total of $171M across 4 funding rounds.
Type One Energy's first fundraising round was a $29M seed round in March 2023. The most recent completed round was a $1M strategic investment round in September 2026.
Type One Energy funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Strategic investment | RecycLiCo Battery (lead) | $1M | - | RecycLiCo Battery Materials Inc. invested USD 1,000,000 in convertible preferred stock of Type One Energy Group on September 17, 2026. The transaction was presented as a strategic investment by RecycLiCo, with Type One Energy described as a global fusion technology provider focused on an optimized stellarator fusion energy system. The deal was framed as part of RecycLiCo’s broader commitment to technologies across the advanced energy and critical-materials ecosystem, extending its exposure beyond battery materials into next-generation clean power technologies. The investment was in convertible preferred stock, indicating a minority equity position rather than a control transaction or acquisition. RecycLiCo Battery Materials is a critical minerals refining and lithium-ion battery upcycling company listed on the TSX Venture Exchange and OTCQB. Type One Energy is a private fusion technology company developing advanced fusion power systems. |
| Jan 2026 | Undisclosed stage | - | $87M | $900M | Type One Energy is a fusion energy startup developing stellarator technology for magnetic confinement fusion to produce clean, limitless power without long-lived radioactive waste or meltdown risks. The company raised $87 million in a convertible note funding round on January 14, 2026, bringing total venture funding to over $160 million. This bridges to a planned $250 million Series B round targeting a $900 million pre-money valuation. Previous funding included a $29 million seed round in 2023, extended to $82.5 million in 2024, backed by Breakthrough Energy Ventures (Bill Gates), Doral Energy-Tech Ventures, TDK Ventures, and others. Type One Energy partners with utilities rather than building plants itself, licensing core fusion technology for others to construct, own, and operate facilities. A key deal is with the Tennessee Valley Authority to site its first commercial plant, Infinity Two, at the retired Bull Run Fossil Plant in Tennessee, aiming for 350 megawatts of electricity in the mid-2030s. The FusionDirect program accelerates commercialization by focusing on pilot power plant design using proven stellarator advances from institutions like University of Wisconsin-Madison and Max Planck Institute, collaborating with MIT and Commonwealth Fusion Systems on components. The funding aligns with surging electricity demand from data centers, projected to triple power use by 2035, and broader electrification trends. Type One positions stellarators as reliable for prolonged plasma control, targeting grid integration within the next decade via capital-efficient partnerships. |
| Jul 2024 | Seed | Breakthrough Energy Ventures (lead); Foxglove Capital; GD1; Centaurus Capital | $54M | - | Type One Energy is a nuclear fusion startup backed by Breakthrough Energy Ventures, developing stellarator-based magnetic confinement technology for commercial power generation. The company's approach differs from traditional fusion in that it plans to license technology to power providers rather than build and operate plants directly, positioning itself as a technology vendor in the clean energy space. Type One finalized an $82.5 million seed financing round in 2024 that was originally started at $29 million in 2023. Investors included Breakthrough Energy Ventures, Centaurus Capital, Doral Energy-Tech Ventures, TDK Ventures, Foxglove, and funds from Australia and New Zealand including GD1. The company is currently raising a $250 million Series B round at a $900 million pre-money valuation, bringing total venture funding to over $160 million. Type One signed a landmark deal with the Tennessee Valley Authority to deploy its first commercial power plant, called Infinity Two, at the site of the former Bull Run coal plant, expected to generate 350 megawatts and come online in the mid-2030s. The company benefits from surging demand for clean electricity driven by data centers, with projections showing data center electricity consumption could nearly triple by 2035 and global electricity demand growing approximately 4% annually. |
| Mar 2023 | Seed | Breakthrough Energy Ventures (lead); Doral Energy-Tech Ventures (lead); TDK Ventures (lead) | $29M | - | Type One Energy is a fusion energy company developing stellarator technology through its FusionDirect program, aiming for a direct path to commercialization with a fusion pilot power-plant by 2030. On March 28, 2023, it closed an oversubscribed $29 million first financing round co-led by Breakthrough Energy Ventures, TDK Ventures, and Doral Energy-Tech Ventures, with participation from Darco, Grantham Foundation, MILFAM, Orbia Ventures, Shorewind Capital, TRIREC, VAHOCA, and others. This seed round launched the company's partner-rich, capital-efficient approach leveraging advances in stellarator performance, plasma science, high-temperature superconducting magnets, and advanced manufacturing. The 2023 round appointed Christofer Mowry as CEO and positioned Type One Energy to pursue the lowest-risk pathway to fusion energy. Subsequent developments include finalizing an expanded $82.4 million seed financing in July 2024, attracting global investors from Asia-Pacific like GD1 in New Zealand and Australia, plus follow-on from Breakthrough Energy Ventures. This built on the initial $29 million, reaching approximately $82.5-$87 million total seed capital. Type One Energy has advanced partnerships for commercialization, including a collaboration with TVA for a 350-megawatt Infinity Two fusion power plant at the former Bull Run Fossil Plant in Tennessee, supported by Governor Bill Lee for job creation and energy independence. TVA issued a Letter of Intent, with Infinity One prototype commissioning targeted for 2029 and Infinity Two construction potentially starting in 2028 pending approvals. AECOM partnered for design-engineering services, and the company submitted Tennessee's first fusion license application for Project Infinity at Bull Run Energy Complex. A later pre-Series B round was reported in process at a $900 million pre-money valuation targeting $250 million raise, but no details on the specified 2023 round's valuation or financial metrics like revenue or EBITDA near March 2023. |
Who has invested in Type One Energy?
7 investors have backed Type One Energy across its funding rounds, including Breakthrough Energy Ventures, GD1, TDK Ventures, Doral Energy-Tech Ventures, Centaurus Capital and Foxglove Capital.
Lead investors include RecycLiCo Battery, Breakthrough Energy Ventures, Doral Energy-Tech Ventures and TDK Ventures.
Type One Energy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Mar 2023 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Lead | Mar 2023 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Lead | Mar 2023 | ||
This data is available for Pro users. Sign up to see all 7 Type One Energy investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialType One Energy Competitors
Type One Energy competitors include listed companies like Engie Energia Peru and Greencoat Renewables, and private ones like Desert Sunlight Investment, New England Reliable Hydropower, aventron and Apraava Energy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $907M | - | ||
| Private | - | - | $920M | - | ||
| Publicly listed | $653M | $256M | $874M | 2.0x | ||
| Private | $200M | $136M | $936M | 4.7x | ||
| Private | - | - | $833M | - | ||
| Publicly listed | ($45M) | ($8M) | $978M | 27.7x |
Type One Energy Public Comps
Type One Energy is still privately-owned, but its public comps include Mitsuuroko Group Holdings, Rockhopper Exploration, Jiangsu Zongyi Co, XPLR Infrastructure, Engie Energia Peru, Karoon Energy, Greencoat Renewables, Transcorp Power, Grupo TSK and EnQuest.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.2B | $119M | 0.4x | 0.4x | 7.4x | - | |||
| - | ($42M) | - | - | (20.7x) | (90.6x) | |||
| $71M | $41M | 13.1x | - | 22.7x | - | |||
| $1.2B | $607M | 11.6x | 10.4x | 22.7x | - | |||
| $653M | $256M | 1.9x | 2.0x | 5.0x | 5.3x | |||
| $629M | $247M | 1.8x | 1.9x | 4.6x | 3.2x | |||
| ($45M) | ($8M) | (50.1x) | 27.7x | (269.1x) | - | |||
| $296M | $97M | 3.4x | - | 10.4x | - | |||
This data is available for Pro users. Sign up to see all Type One Energy competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Type One Energy
| When was Type One Energy founded? | Type One Energy was founded in 2019. |
| Where is Type One Energy headquartered? | Type One Energy is headquartered in Greensboro, NC, United States. |
| Is Type One Energy publicly listed? | No, Type One Energy is a private, VC-backed company. |
| What is Type One Energy's valuation? | Type One Energy was last valued at $900M in its undisclosed-stage round in January 2026. |
| How much funding has Type One Energy raised? | Type One Energy has raised $171M across 4 funding rounds. |
| What was Type One Energy's last funding round? | Type One Energy's last funding round was a $1M strategic investment round in September 2026, led by RecycLiCo Battery. |
| Who are Type One Energy's investors? | Type One Energy's investors include Breakthrough Energy Ventures, Foxglove Capital, Doral Energy-Tech Ventures, GD1, TDK Ventures, RecycLiCo Battery and Centaurus Capital. |
| Which companies are comparable to Type One Energy? | Companies comparable to Type One Energy include Desert Sunlight Investment, New England Reliable Hydropower, Engie Energia Peru, aventron, Apraava Energy and Greencoat Renewables. |
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