Fusion Startup Raises $450 Million in Bid to Make Power Using World’s Biggest Lasers

Article content(Bloomberg) — Fusion energy startup Inertia Enterprises has raised $450 million to start developing a power plant that hinges on building the world’s most powerful lasers. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe Series A funding round was led by Bessemer Venture Partners and includes Threshold Ventures, Long Journey Ventures and GV (formerly Google Ventures). The Livermore, California-based company expects to begin construction in 2030 on a commercial power plant. It also plans to build a facility to make the lasers and a production line to supply millions of tiny pellets made of special materials that they intend to blast to trigger fusion reactions.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe scale of the funding reflects the growing interest in fusion, which holds the promise of abundant clean energy but also comes with daunting engineering and physics challenges. The industry attracted more than $9.7 billion in backing through the middle of last year, according to a Fusion Industry Association report released in July.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentMajor deals have continued since then, led by an $863 million funding round announced by Commonwealth Fusion Systems in August. Dozens of companies are pursuing the technology, which involves replicating the conditions at the heart of stars, but none has yet demonstrated a viable commercial system.Article contentThere are two main approaches to fusion power plants. Commonwealth is one of the leaders seeking to use powerful magnets to control a super-heated cloud of plasma. Inertia is pursuing a different path, using powerful lasers to set off fusion reactions. That method was validated for the first time in a 2022 breakthrough at Lawrence Livermore National Laboratory. Article contentThat test used the world’s largest laser to blast a peppercorn-sized capsule. That triggered a fusion reaction with two hydrogen isotopes, releasing more energy than was needed to set it off. Inertia is developing a new laser that Inertia Chief Executive Officer Jeff Lawson said will be a million times more powerful, and the company’s roster includes co-founder Annie Kritcher, who was lead designer of Livermore’s fusion experiments. Inertia plans to use 1,000 lasers, firing 10 times a second at its proposed commercial power plant.Article contentMost of the leading fusion companies are pursuing the magnet-based approach. But none has been able to demonstrate a reaction that delivers more energy than was needed to trigger it, the industry’s most important benchmark. Inertia’s approach and on-staff expertise give it an edge, said Bessemer Ventures partner Byron Deeter. Article content”Most of the scientific risk has been meaningfully reduced,” he said. “Not eliminated, but meaningfully reduced.”Article contentTrending BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate John Manley: Why Canada needs to play it cool on CUSMA — and keep its options open Economy As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. BlackBerry cofounder Michael Lazaridis invests in Vancouver-based AI startup Innovation 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate John Manley: Why Canada needs to play it cool on CUSMA — and keep its options open Economy As Cuba fuel crisis deepens, Canadians on the ground remain in vacation mode News The problem of the Toys 'R' Us $36-million gift card mountain Retail & Marketing