Focused Energy, a German-American laser-based fusion startup dedicated to developing fusion as a means of generating clean alternative energy, has raised an additional $11 million in series-A funding, bringing its total funding to $82 million. The round was led by Prime Movers Lab, and previous investors VCP Capital and Tony Florence joined the round as well.
The funding enables the company to expand its role as a pioneer and innovation driver in laser-based nuclear fusion. The capital will be used for further research and commercialization of nuclear fusion as a safe, climate-neutral and virtually inexhaustible energy source.
In May, the Department of Energy awarded a $3 million Milestone-Based Fusion Development Program grant to Focused Energy. The company was one of only eight to receive funding. Focused Energy’s approach to fusion energy is based on the successful method developed at the Lawrence Livermore National Laboratory, where in December 2022, it produced