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Helion Signs Agreement For $175 Million In US CHIPS Act Funding
Helion signed an agreement for $175 million in US CHIPS Act funding to develop semiconductors for fusion energy.
Key points
- The project allocates over $100 million for R&D in Everett, Washington, and $80 million for tooling and design in Burlington, Vermont.
- Helion previously secured $500 million in Series G funding and demonstrated deuterium-tritium fusion at 150 million degrees Celsius.
- The initiative aims to create over 100 jobs and develop high-voltage semiconductors to reduce overseas supply chain dependencies.
Why it matters. The funding could enable the domestic production of specialized semiconductors required to scale fusion power generation and support other high-power electrical systems.
Helion signed a letter of intent with the U.S. Department of Commerce for up to $175 million in proposed CHIPS and Science Act funding. Combined with $50 million in private investment, the $225 million project will fund semiconductor R&D in Everett, Washington, and Burlington, Vermont. Helion claims domestic production is necessary because required devices are currently only available from overseas manufacturers. The Department of Commerce would receive a $175 million nonvoting interest in the company.
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Helion Signs Agreement For $175 Million In US CHIPS Act Funding
The Everett, Washington-based company will combine the proposed federal grant with $50 million in private investment. This total $225 million initiative focuses on research and development for semiconductors essential to fusion energy. The funding is provided under the CHIPS and Science Act. The project aims to strengthen domestic semiconductor capabilities for high-energy applications.