22 June 2023, AUSTIN, Texas, and DARMSTADT, Germany — A laser-based fusion firm called Focused Energy acquired an extra USD 11 million in Series A funding, bringing their total funding to USD 82 million. Their goal is to create fusion as a way to produce clean alternative Energy. In addition to prior investors Tony Florence and VCP Capital, Prime Movers Lab led the round.
The money allows the company to strengthen its position as a leader in laser-based nuclear fusion and a catalyst for innovation. The funds will be used to advance the study of nuclear fusion as a secure, climate-neutral, and essentially limitless energy source and to commercialize it.
Focused Energy received a $3 million Milestone-Based Fusion Development Programme grant from the Department of Energy in May. Only eight companies were funded, and one of them was the firm. The successful strategy created at the Lawrence Livermore National Laboratory, where it generated the first net energy gain from nuclear fusion in December, is the foundation of Focused Energy’s approach to fusion energy.
Additionally, Focused Energy received a $50 million SPRIN-D award from the German Federal Agency for Disruptive Innovation for the construction of laser fusion infrastructure over the following five years. The German state of Hesse will also give the business $3 million.
According to Prof. Markus Roth, co-founder and CSO of Focused Energy, “Two of the most innovative nations in the world believe in our approach and are supporting the work and research of our teams.”
According to Prime Movers Lab Founder and General Partner and Focused Energy Chairman Dakin Sloss, “We believe that Focused Energy is the leading inertial fusion company, and the continued technical progress and support from the U.S. and German governments proves that this team is the most likely to commercialize laser-based fusion energy with economically competitive power plants.” Because I think Focused Energy has the most significant potential to save billions of lives by delivering on the promise of plentiful sustainable Energy, I spend more time working with the Focused Energy team than any other organization.
In only a few years, Focused Energy, a German-American business that was spun off from the Technical University of Darmstadt in 2021, will make it possible to provide safe, clean, and almost limitless energy using laser-based nuclear fusion. The fledgling company has offices in Darmstadt and Austin, Texas, and hires the brightest brains from top universities and research centers in Europe and the USA. Focused Energy leverages its founders’ thirty years of fusion research experience, a young German American company’s speed, and private financing to quickly bring laser-based fusion to market and feed the world’s energy needs.
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