October 7, 2026 - Type One Energy has secured $200 million in financing to advance a proposed fusion power project at the Tennessee Valley Authority’s former Bull Run coal plant site in eastern Tennessee.

The investment supports Project Infinity, which includes the Infinity One engineering prototype and a planned 400-MW commercial generating facility called Infinity Two. It also funds the company’s broader fusion technology development program.

Breakthrough Energy Ventures and Clutterbuck Capital led the financing round, with participation from Lowercarbon Capital, Siemens Energy Ventures, SiteGround Capital and other investors.

Type One Energy’s Project Infinity includes the Infinity One stellarator engineering prototype and the world’s first commercial fusion power plant, the 400 MWe Infinity Two at TVA’s Bull Run Energy Complex in East Tennessee.

Artwork credit: AL_A

For the coal industry, the project represents a potential new use for an established power-generation site. TVA retired Bull Run’s coal-fired unit in December 2023. Type One Energy is now pursuing fusion development at the property, although commercial electricity production has not begun.

The financing follows Tennessee’s issuance of an initial operating license for Project Infinity. That licensing milestone and the new investment support continued engineering and development; they do not mean the proposed commercial plant is ready to operate.

Type One Energy CEO Christofer Mowry said the funding will help advance the company’s stellarator technology and project design. Stellarators use powerful magnetic fields to confine the extremely hot fuel needed for fusion.

The company plans to work with established manufacturers, engineers and energy-sector partners to develop and deploy its technology. Type One Energy is also pursuing a separate commercial fusion initiative in the United Kingdom.

Founded in 2019, Type One Energy develops fusion systems intended to provide reliable, low-carbon electricity. Its Bull Run project illustrates how former coal-generation properties could support future energy investment as new technologies move toward commercial deployment.