Helion Energy

Chelan County permits Helion's Orion plant in Malaga, WA — up to 50 MW to Microsoft, targeted by 2028.

Helion secured the licenses to build and operate its Orion plant in Malaga, WA — a Radioactive Materials License and a Radioactive Air Emissions License from the Washington Department of Health — the first US (and world) fusion firm to clear full plant licensing. Under the NRC's decision to regulate fusion like particle accelerators rather than fission reactors, the state DOH is the licensing body. Electricity to Microsoft is targeted by 2028. In September 2026 Helion softened that: its website now says Orion will "begin initial operations in 2028" rather than produce electricity then, a spokesperson said the plant would "in no universe" reach its full 50 MW in 2028, putting full power in 2029 or 2030, and the stated goal for its Polaris prototype changed from producing net electricity to demonstrating electricity from fusion. The Microsoft contract requires Orion to be connected to the grid and begin operations by the end of 2028.

Polaris reaches 150M°C — first privately built machine to do D-T fusion, beating Helion's own 100M°C (Trenta).

Thrive Capital-led $465M Series G nearly triples Helion's valuation to $15.5B and brings total raised to ~$1.5B, funding manufacturing scale-up toward its 2028 power deal with Microsoft.