KUALA LUMPUR, Dec 5 (Bernama) -- Helical Fusion Co Ltd (Helical Fusion), a developer of next-generation clean energy through nuclear fusion, has completed its Series A Extension round, raising approximately US$5.5 million (US$1 = RM4.10).
Helical Fusion in a statement said the funding round included investments from “Ecrowd NEXT”, a fund designed for individual investors, alongside multiple corporate investors and individual investors.
As a result, Helical Fusion’s total Series A funding, including loans, amounts to approximately US$21 million, bringing the company’s cumulative fundraising including grants and loans to around US$38 million.
With this funding, the company plans to accelerate development under its flagship Helix Program, aimed at delivering the world’s first commercially viable fusion power plant.
Founded in October 2021, Helical Fusion is progressing toward integrated demonstration using its experimental device Helix HARUKA and ultimately aims for net-electricity, steady-state fusion generation with Helix KANATA in the 2030s.
-- BERNAMA
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