Germany-based laser fusion company Focused Energy announced that it has raised $240 million in a Series A funding round, marking the largest-ever Series A financing in the global fusion industry to date.

Founded in 2021 as a spinout of the Technical University of Darmstadt, Focused Energy develops laser-driven fusion energy systems, designed to commercialize fusion as a source of virtually limitless clean energy with no direct CO2 emissions and significantly less long-lived radioactive waste than conventional nuclear fission.

The company’s technology uses Deuterium-Tritium fusion fuel in proprietary mass-produced “Pearl” fuel capsules, which are injected into a target chamber, where they are compressed by lasers, and ignited. According to Focused Energy, the company’s design focused on manufacturability, with components that can be mass-produced and easily shipped, while offering power plant-grade reliability.

Focused Energy said that the new capital will be invested in the former RWE power plant site in Biblis, Hesse, and will support the accelerated development of fusion systems. The company added that the new project could serve as a blueprint for the industrial-scale deployment of fusion technology in Germany.

Thomas Forner, co-founder and CEO of Focused Energy, said:

“Fusion energy is entering a new era in Germany and Europe. It is now about how we can effectively translate our scientific excellence and industrial strength in fusion technology – prioritized by the German High-Tech Agenda – into industrial value creation.”

The funding round included participation from existing investors RWE and Prime Movers Labs, as well as new investors including Germany’s Federal Agency for Breakthrough Innovation SPRIND and the European Innovation Council Fund, alongside additional investors from Europe, the U.S., Asia and the Gulf region.

Dr. Markus Krebber, CEO of RWE AG, said:

“Thanks to its excellent research ecosystem and innovative start-ups such as Focused Energy – one of the leading companies in the field of laser fusion – Germany is well-positioned to take a leading global role in nuclear fusion. That is why we are prepared to further expand our investment in Focused Energy. It sends an important message that the German federal and state governments are working together to advance development with the goal of building a commercial fusion reactor in Germany.”