This Type One Energy company profile covers the company's valuation, revenue, funding rounds, investors and history. Type One Energy works in energy, with a focus on fusion (stellarator). It was founded in 2019 and is headquartered in Knoxville, Tennessee, United States. Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Series B terms (reported) | Raising US$250 million at a US$900 million pre-money valuation | January 2026 | TechCrunch |
| Planned plant | Infinity Two, about 350 MW, with TVA at the former Bull Run coal plant site | 2026 | TechCrunch |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| 2026 (reported) | Series B | US$200M (reported close) | Not disclosed | Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital among new investors (reported) | Tech Funding News |
| Jan 2026 | Convertible note | US$87M | n/a (converts into Series B) | Breakthrough Energy Ventures and others | TechCrunch |
Type One Energy timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2019 — Type One Energy is founded in Knoxville by Founded by fusion scientists; CEO Christofer Mowry.
- Jan 2026 — Convertible note: US$87M, valuing the company at n/a (converts into Series B). Investors: Breakthrough Energy Ventures and others.
- 2026 (reported) — Series B: US$200M (reported close). Investors: Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital among new investors (reported).
- January 2026 — Series B terms (reported): Raising US$250 million at a US$900 million pre-money valuation.
- 2026 — Planned plant: Infinity Two, about 350 MW, with TVA at the former Bull Run coal plant site.
Investors
Type One Energy is a Tennessee fusion company designing a stellarator, a twisted, doughnut-shaped magnetic machine, to generate electricity. It plans its first power plant, Infinity Two, with the Tennessee Valley Authority at a retired coal plant site, aiming for the mid-2030s. In January 2026 it raised US$87 million through a convertible note ahead of a Series B that TechCrunch reported was targeting US$250 million at a US$900 million pre-money valuation. This profile explains Type One's technology, funding and plans.
Funding and valuation
Type One raised US$87 million through a convertible note in January 2026, which will convert into equity at a discount to its Series B, according to TechCrunch. TechCrunch reported that the company was raising a US$250 million Series B at a US$900 million pre-money valuation. A later report by Tech Funding News said the Series B closed at US$200 million, with Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital among new investors; we could not confirm the final size or valuation from other sources, so we do not show a valuation. Total funding is reported at more than US$160 million before the Series B, with CB Insights giving a higher figure.
What a stellarator is
Fusion reactors try to heat hydrogen fuel to more than 100 million degrees so that atoms fuse and release energy. Most magnetic fusion efforts use tokamaks, doughnut-shaped machines that drive a large electric current through the plasma to help confine it. Stellarators instead use complex, twisted magnetic coils to shape the plasma without that current, which can make them more stable and able to run continuously, an advantage for a power plant. Their drawback has been that the coils are very hard to design and build.
Advances in computer optimisation and high-temperature superconducting magnets have revived interest. Germany's Wendelstein 7-X research stellarator has achieved record results, and companies including Type One, Proxima Fusion and Thea Energy are trying to turn the design into commercial plants.
The TVA partnership and Infinity Two
Type One has agreements with the Tennessee Valley Authority, the large federal utility, to site its first commercial plant at the former Bull Run Fossil Plant near Knoxville, a coal plant retired in 2023. Infinity Two is planned to generate about 350 megawatts of electricity, with operations targeted for the mid-2030s. Under its business model, Type One expects to provide key technology and design while utilities such as TVA build, own and operate the plants. It is also working on Infinity One, a prototype, and its development programme, FusionDirect.
Leadership
Type One was founded in 2019 by fusion scientists, including researchers from the University of Wisconsin-Madison's stellarator programme, and is led by chief executive Christofer Mowry, a former nuclear industry executive. It has teams in Tennessee and Wisconsin.
Investors
Its backers include Bill Gates's Breakthrough Energy Ventures, TDK Ventures, Doral Energy-Tech Ventures and, in its Series B, Lowercarbon Capital and Siemens Energy Ventures, according to the reports above.
Competitive landscape
Type One competes with other fusion developers, including Commonwealth Fusion Systems and Tokamak Energy (tokamaks), Helion (pulsed fusion), Pacific Fusion, Proxima Fusion and Thea Energy (stellarators), as well as with advanced fission companies that may deliver power sooner. See our guides to fusion energy companies and nuclear energy startups.
Risks
- Science and engineering: no fusion device has yet produced net electricity for the grid.
- Timeline: a mid-2030s plant depends on many milestones going right.
- Capital needs: building a power plant will require billions of dollars.
- Regulation: fusion licensing frameworks are still being finalised.
- Competition: better-funded fusion and fission companies are racing for the same customers.
Questions to ask
- What has Type One demonstrated experimentally so far?
- What are the final terms of the Series B?
- How will Infinity Two be financed, and who will own it?
- What milestones must Infinity One reach first?
Timeline in brief
- 2019: founded.
- 2023: TVA's Bull Run coal plant retires.
- 2024–2025: agreements with TVA for a fusion plant at Bull Run.
- January 2026: US$87 million convertible note; Series B reported at US$900 million pre-money.
- 2026: Series B reported closed at US$200 million.
Type One Energy at a glance
Type One Energy is a Knoxville, Tennessee fusion company founded in 2019 and led by CEO Christofer Mowry, developing stellarator power plants. It is working with the Tennessee Valley Authority on Infinity Two, a planned 350 MW plant at the former Bull Run coal site, targeted for the mid-2030s. It raised an US$87 million convertible note in January 2026, and its Series B was reported at a US$900 million pre-money target and later at a US$200 million close.
Why a utility partnership matters
Most fusion startups promise power plants without saying where they would be built or who would buy the electricity. Type One's agreements with TVA give it a real site, a retired coal plant with existing grid connections, water and skilled workers, and a utility partner with experience operating nuclear plants. Reusing coal sites is attractive across the energy industry because transmission lines are already in place, which avoids one of the biggest delays in building new power stations. TVA's involvement also helps with planning, licensing and community engagement, and signals to investors that a major utility takes the design seriously.
Valuation context
A reported pre-money target of about US$900 million is modest compared with fusion leaders: Helion was valued at US$15.5 billion in 2026, and Commonwealth Fusion Systems has raised billions of dollars. Stellarator companies are generally earlier in their engineering than the leading tokamak and pulsed-fusion developers. Type One's valuation would rise substantially if its prototype hits key milestones and the Infinity Two plan moves into detailed engineering and financing.
What to watch
Watch for confirmation of Series B terms, prototype milestones, licensing progress and engineering contracts for Infinity Two.
Takeaways
Type One is a leading bet that stellarators, long a research curiosity, can become practical power plants. Its utility partnership gives it a site and a customer; the physics and the funding still have to follow.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Type One Energy do?
Type One Energy is a energy / fusion (stellarator) company headquartered in Knoxville, Tennessee, United States. It was founded in 2019.
What is Type One Energy's valuation?
Type One Energy has not publicly disclosed a valuation in the sources we track.
How much revenue does Type One Energy make?
Type One Energy is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Type One Energy's latest funding round?
The most recent financing we have verified is a series b in 2026 (reported): US$200M (reported close). Source: Tech Funding News.
Who are Type One Energy's investors?
Investors named in public announcements include Breakthrough Energy Ventures, Lowercarbon Capital, Siemens Energy Ventures, TDK Ventures and Doral Energy-Tech Ventures.
Who founded Type One Energy?
Type One Energy was founded in 2019 by Founded by fusion scientists; CEO Christofer Mowry.
Is Type One Energy a public company?
No. Type One Energy is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Type One Energy headquartered?
Type One Energy is headquartered in Knoxville, Tennessee, United States.