Zap Energy Raises $27.5 Million to Advance Reactor Technology
b'Zap Energy, a pioneer in fusion energy technology, today announced that it has raised $27.5 million in Series B funding.
- b'Zap Energy, a pioneer in fusion energy technology, today announced that it has raised $27.5 million in Series B funding.
- The new financing comes just nine months after closing a $6.5 million Series A funding round, following the achievement of a major scientific milestone in late 2020 that brings Zap Energy closer to energy breakeven.\nZap Energy is building the most compact, low-cost and scalable fusion reactor that does not employ magnets.
- Zap Energy achieved thermonuclear fusion in 2018 and is targeting scientific energy breakeven by 2023.
- \xe2\x80\x9cWe are thrilled to partner with Addition and our new investors who share our conviction that Zap Energy\xe2\x80\x99s technology can become one of the key enablers for a sustainable global energy future.\xe2\x80\x9d\n\xe2\x80\x9cAs the transition towards sustainable energy accelerates, Zap Energy has the potential to change the way global energy is produced,\xe2\x80\x9d said Lee Fixel, Founder of Addition.