Crunchbase News takes note of a technology that is more than a century old, but is capturing the interest of investors. It’s fusion energy.
“The promise of real commercialized fusion energy seems to have fired up some venture and investment firms which are now betting big — very big in some cases — in the space,” according to this article. “Just earlier this month, Cambridge, Massachusetts-based Commonwealth Fusion Systems raised a huge Series B of more than $1.8 billion led by Tiger Global and also included investments from Bill Gates, Marc Benioff’s Time Ventures and about two dozen others. While the round marks the largest for any nuclear fusion start-up — all of which are vying to create carbon-free energy — it was far from the only one.”
The article goes on to talk about General Fusion which announced less than a month ago that the U.S. base of operations for the Canadian-based company would be in Oak Ridge (see teknovation.biz article here) and which followed that with an announcement that it had raised $130 million in funding to develop its ambitious clean energy technology.