First commercial fusion plant permitted & under construction
2025-10Helion Energy
Chelan County permits Helion's Orion plant in Malaga, WA — up to 50 MW to Microsoft, targeted by 2028.
All actors 
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Helion Energy
Profile
Pulsed magneto-inertial fusion; signed a power purchase agreement with Microsoft.
Editorial profile — compiled by us from public sources.
- Founded
- 2013
- Headquarters
- Everett, WA, US
- Funding raised
- $1.5B
Current standings
Standings and milestones are always verified by us against primary sources, regardless of who manages the profile.
Roadmap & milestones
World's first regulatory licenses for a fusion power plant
2026-06Helion Energy / Washington DOH
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.
150M°C + first private deuterium-tritium fusion
2026-02Helion Energy
Polaris reaches 150M°C — first privately built machine to do D-T fusion, beating Helion's own 100M°C (Trenta).
$465M Series G at $15.5B valuation
2026-06Helion Energy
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.
