Fusion energy startup Inertia Enterprises announced that it has raised $450 million in a Series A funding round, with proceeds aimed at commercializing its technology to “bring limitless clean energy to the world.”
Fusion, the process of combining two atoms to form a single atom to release energy, has been long referred to as the “Holy Grail” of clean and abundant energy production, given its potential to produce power from hydrogen – the most common element in the universe – without producing carbon emissions associated with fossil-fuel based power, and without the highly radioactive output of nuclear fission processes. Large scale fusion energy generation has been elusive, however, given the need to create extremely high temperatures and pressure.
Founded in 2024, California-based Inertia aims to use laser-based fusion technology to build the first fusion energy power plant capable of delivering grid-scale power. The company’s approach is built on physics proven at the National Ignition Facility (NIF) at Lawrence Livermore National Laboratory (LLNL), which achieved fusion ignition by using lasers to strike a target of fuel to achieve net energy gain, in which more energy was produced from fusion than was input.
Inertia Co-founder Dr. Annie Kritcher, who also serves as the lead designer of fusion experiments at the NIF, said:
“In just three years, we’ve gone from the first experiment to ever produce more fusion energy than was delivered to the target, to repeating that result many times and pushing the target gain higher. We’re now focused on translating physics we know works into a pathway toward commercial-scale fusion energy, and the real benefits it can deliver for people and the planet.”
Inertia said that it will use the new capital to commercialize its technologies to create a gigawatt-scale power plant, starting with the development of the world’s most powerful grid-scale fusion laser system, then building the first fusion target factory to produce mass-manufactured fuel targets, and then finally building a utility-scale fusion power plant that will demonstrate full end-to-end energy generation capability in the 2030s.
The Series A round was led by Bessemer Venture Partners, with participation from additional firms including Google Ventures, Modern Capital, Threshold Ventures, and more.
Byron Deeter, Partner at Bessemer Venture Partners, said:
“Inertia represents our first investment into the direct fusion market, because it is the first company that we’ve seen with a clear roadmap to commercial energy that’s compelled us to act. With a combination of frontier physics expertise and proven company-building experience, Inertia is unique. We’re thrilled to partner with them as they work to deliver abundant, safe, and clean energy.”
