In recent years, the fusion power sector has transitioned from a long-standing joke about being “a decade away” to a burgeoning field attracting significant investment. With the potential to harness the same nuclear reactions that power the sun, fusion technology promises nearly limitless energy, which could disrupt trillion-dollar markets if commercially viable power plants are realized.

The surge in interest and funding for fusion startups has been fueled by advancements in three key areas: more powerful computer chips, sophisticated artificial intelligence, and high-temperature superconducting magnets. These developments have enabled improved reactor designs, enhanced simulations, and more complex control systems. Notably, a U.S. Department of Energy lab achieved a controlled fusion reaction that produced more energy than was input, marking a significant milestone in the journey toward commercial viability.

According to data from FusionX, numerous startups have raised over $100 million in private capital, reflecting the growing confidence in fusion technology. Below are some of the leading companies in this space.

Commonwealth Fusion Systems

Commonwealth Fusion Systems (CFS) has emerged as a frontrunner, securing approximately one-third of all private capital invested in fusion companies. The startup raised $1 billion in July, bringing its total funding to $3.94 billion. CFS is developing Sparc, a tokamak-style reactor designed to achieve scientific breakeven by 2027. The company plans to construct a commercial power plant, Arc, capable of generating 400 megawatts of electricity, with Google already committed to purchasing half its output.

Helion

Based in Everett, Washington, Helion aims to produce electricity by 2028, with Microsoft as its first customer. The company has raised $3.2 billion to date, including a recent $465 million round that valued it at $15.5 billion. Helion’s reactor employs a field-reversed configuration, utilizing high-speed plasma collisions to induce fusion and generate electricity directly from the reactor.

TAE Technologies

TAE Technologies, founded in 1998, has raised $1.65 billion and is known for its unique approach to plasma confinement. The company plans to merge with Trump Media & Technology Group in a deal valued at $6 billion. TAE’s reactor design incorporates particle beams to stabilize plasma, enhancing the likelihood of fusion reactions.

Pacific Fusion

With a remarkable Series A funding round exceeding $1 billion, Pacific Fusion is pursuing inertial confinement fusion using coordinated electromagnetic pulses. The startup’s leadership includes Eric Lander, a prominent scientist known for his role in the Human Genome Project.

Proxima Fusion

Proxima Fusion has raised over $682.9 million and is focusing on stellarator designs, which offer advantages in plasma stability. The company plans to complete its net-energy demonstrator, Alpha, in the early 2030s.

General Fusion

Founded in 2002, General Fusion has raised over $442 million and employs a unique magnetized target fusion approach. The company faced financial challenges but has recently gone public via a reverse merger, raising $127 million.

As the fusion industry continues to evolve, these startups represent just a fraction of the innovation and investment pouring into this promising field. For a comprehensive overview of all fusion startups that have raised significant capital, visit TechCrunch.