Venture capitalists’ appetite for fusion startups has been up and down in the last few years.
The road to true fusion power remains long, but the kicker is that it’s no longer theoretical.
He added the timeline was to be able to get to fusion energy by the mid-2030s.
If we manage to get to that then the middle of the 2030s is possible.”The startup’s investors are equally convinced.
And there are at least 43 other companies developing nuclear fusion technologies.
Astra Space, the launch company that went public in 2021 at a $2.1 billion valuation, is going private again after months of burning cash and failing to secure alternate investment.
The deal is expected to close in the second quarter of 2024, at which time Astra will cease trading on the Nasdaq.
In an investor presentation from February 2021, Astra touted a “mass produced portable launch system” that could launch from anywhere in the world.
At the time Astra completed its SPAC merger it also acquired Apollo Fusion, an electric propulsion developer for spacecraft, with the aim of integrating those systems into an Astra satellite constellation.
That constellation never came to fruition, however, and while the company did succeed in selling many Apollo Fusion propulsion systems it has struggled to turn that backlog into revenue.
The oversubscribed round is yet another sign of fusion’s maturity The startup, Fusion Energy Foundry, believes that its “neutron generator” will be able to produce more power than any other…
Renaissance Fusion is a Grenoble-based startup that has been working on nuclear fusion for the past couple of years. The company recently raised $16.4 million in funding in a seed…
