Fusion energy startup Avalanche Energy announced that it has raised $29 million in a new funding round, aimed at advancing the development of its compact fusion energy devices.
Fusion, the process of combining two atoms to form a single atom to release energy, has been long referred to as the “Holy Grail” of clean and abundant energy production, given its potential to produce power from hydrogen – the most common element in the universe – without producing carbon emissions associated with fossil-fuel based power, and without the highly radioactive output of nuclear fission processes. Large scale fusion energy generation has been elusive, however, given the need to create extremely high temperatures and pressure.
Founded in 2018, Avalanche aims to scale fusion technology by developing compact fusion devices as an alternative to giant, multi-billion dollar reactors. The company’s product roadmap include the “Orbitron,” a desk-sized 1-100kWe compact fusion machine. According to Avalanche, the small and modular design of its machines allows opens a wide range of applications for its technology, from data centers and remote power generation to advanced propulsion systems, and applications in austere and grid-challenged environments.
Avalanche said that the new capital will be used to scale the company’s commercial-scale fusion test facility in Richland, Virginia, and advance the development of the company’s next-generation compact fusion devices, with potential applications including material irradiation, mobile power generation, and power for the electric grid.
Avalanche’s commercial-scale fusion test facility is expected to become operations in 2027 and will host its planned Q>1 deuterium-tritium test program, which the company describes as the world’s first net-energy compact fusion system.
Robin Langtry, CEO and co-founder of Avalanche Energy, said:
“We’ve achieved significant breakthroughs on the plasma physics side that have kept us intensely focused on advancing our technology over the past six months. The new funding will enable us to accelerate the company to the next phase – achieving licensing for commercial-scale fusion operations and preparing for our Deuterium-Tritium Q>1 test program.”
The new funding round was led by investment firm RA Capital Management, and included participation from new investors 8090 Industries, Overlay Capital, and others, as well as existing investors Congruent Ventures, Founders Fund, Lowercarbon Capital, and Toyota Ventures.
Kyle Teamey, Managing Partner, Planetary Health at RA Capital Management said:
“Avalanche is unique among companies in the fusion space in its ability to rapidly iterate to improve and advance its compact modular technology as well as its ability to generate near-term revenue prior to energy break-even. We’re excited to support the Avalanche team as they move efficiently towards crucial mobile, stationary, and space power-generation markets with massive potential.”
