# Type One Energy Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/type-one-energy-group

- Industry: Power & Utilities
- Headquarters: Knoxville, US
- Website: www.typeoneenergy.com
- Total disclosed funding: $94M
- Latest round: Seed (Mar 7, 2024)
- Investors on record: 13

## About

Based in Tennessee, US, and founded in 2019 by co-founders Dr. John Canik, Prof. Chris Hegna, Paul Harris, and Randall Volberg, Type One Energy Group, Inc. operates as a deep-tech company that provides fusion power systems for the global energy market. In January 2026, Type One Energy Group, Inc. raised USD 87 million in venture funding from returning investors Breakthrough Energy Ventures, Doral Energy-Tech Ventures, and TDK Ventures.

Type One Energy Group, Inc. creates a system that generates inert helium and a neutron, which is used to power the conversion of lithium to tritium. It is ideal for retrofitting decommissioned coal and natural gas plants and supports localised grids with siting near where the energy is used. The company's fusion solution is based on stellarator technology, which is based on magnetic-confinement fusion and uses 3D-shaped magnetic fields to keep particles at high enough temperatures for nuclei to fuse.

The company will use the January 2026 funding to support its fusion power development by advancing its stellarator technology and preparing its first commercial plant with the Tennessee Valley Authority.

## Funding rounds

- Seed, Mar 7, 2024, $74M — Centaurus Capital, Breakthrough Energy Ventures, GD1, Foxglove Technologies, Inc.
- Seed, Mar 28, 2023, $20M — Grantham Foundation, Vahoca, TRIREC, Breakthrough Energy Ventures, TDK Ventures, Darco Capital, Orbia Ventures, MILFAM LLC, Doral Energy-Tech Ventures, Shorewind Capital

## Investors

- Grantham Foundation — Seed
- Vahoca — Seed
- TRIREC (https://capitalatlas.ai/funds/trirec) — Seed
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Seed
- TDK Ventures (https://capitalatlas.ai/funds/tdk-ventures) — Seed
- Darco Capital — Seed
- Orbia Ventures (https://capitalatlas.ai/funds/orbia-ventures) — Seed
- MILFAM LLC — Seed
- Doral Energy-Tech Ventures (https://capitalatlas.ai/funds/doral-energy-tech-ventures) — Seed
- Shorewind Capital (https://capitalatlas.ai/funds/shorewind-capital) — Seed
- Centaurus Capital — Seed
- GD1 (https://capitalatlas.ai/funds/gd1) — Seed
- Foxglove Technologies, Inc. — Seed