Nuclear fusion startup Xcimer raises $100M to chase laser-based power
The lure of fusion’s awesome energy potential continues to draw interest from entrepreneurs and investors alike — despite the tech being far from viability.
Xcimer Energy has raised $100 million to turn nuclear fusion, the source of the sun’s immense energy, into a viable way to power our planet’s electrical grid.
The Denver-based startup’s ambitious goal is to develop some of the mightiest laser beams on earth in order to unleash the atomic dance of the fusion reaction, while controlling the reaction well enough to channel its energy into abundant, always-on, low-cost, carbon-free power.
Xcimer’s series A financing round was led by Hedosophia, along with investors including Breakthrough Energy, Lowercarbon Capital, Prelude Ventures, Emerson Collective, Gigascale Capital, and Starlight Ventures. The startup raised a $2.5 million seed round in 2022 and received a $9 million award from the U.S. Department of Energy’s Milestone-Based Fusion Development Program.