Helion Energy, based in Everett, Wash., was founded in 2013 by Chris Pihl, David Kirtley, George Votroubek, and John Slough. Kirtley is the CEO. The company developed the first fusion generator designed to produce clean, reliable, and abundant energy.
Helion is one of the leading companies seeking to replace traditional nuclear power based on “fission” with cleaner and more powerful “fusion,” the same process that has kept the Sun generating heat and light for billions of years. Fission-based nuclear power plants emit finite amounts of radioactive waste, whereas fusion offers endless electricity without the waste.
Among the investors betting on Helion Energy are Silicon Valley investor Peter Thiel, Dustin Moskovitz, Capricorn Investment Group, and Mithril Capital Management. The company has raised $577.8 million in funding over seven rounds, the latest being a Series E round in November 2021. The company’s last known valuation was $3.6 billion and has not publicly communicated an intention to IPO.