Public announcements by Xcimer or major financial news outlets

Xcimer Raises $100M in Series A Led by Hedosophia to Advance Fusion Power Technology

Jun 4, 2024, 12:29 PM

Xcimer, a two-year-old startup, has raised $100 million in Series A funding to advance its innovative approach to nuclear fusion power. The financing round was led by Hedosophia, along with Breakthrough Energy, Lowercarbon Capital, Prelude, Emerson Collective, Gigascale Capital, and Starlight Ventures. Xcimer's technology, highlighted by TechCrunch, involves using lasers to shoot fuel pellets inside a waterfall of molten salt, aiming to make fusion power commercially viable. The company plans to build a demo-scale plant within a decade, marking a significant step towards achieving commercially viable fusion energy. Xcimer's inertial confinement, laser-based systems represent a breakthrough in the field.