A fusion startup backed by Jeff Bezos just raised another $65 million, signaling that investors are still betting on this 'Holy Grail' technology.
For Bezos that's probably like buying a lottery ticket. Odds are it won't pay off, but it's money he can afford to lose, so why not?
Of course, there's also the ITER Tokamak they're building in France, but that's still years away from completion.A fusion energy startup backed by Jeff Bezos just closed a $65 million funding round, led by the massive Singapore-based investment firm, Temasek.
The company, General Fusion, will use the funds to start building a demonstration power plant to test its fusion technology on a commercially-relevant scale.
"This represents the first effort to build a power-plant scale, power-plant relevant prototype fusion machine," General Fusion's CEO Christofer Mowry told Business Insider. "This is really the springboard for General Fusion and, frankly, for a community of private fusion companies around the world. This is what I call the SpaceX moment for fusion."
General Fusion is among a handful of fusion startups attracting high-profile investors in recent years. Commonwealth Fusion Systems, a competitor backed by a Bill Gates-led fund, closed a $115 million round in June, and Alphabet-backed TAE Technologies raised $375 million in 2016, according to data from PitchBook.
Private investors are betting big because the stakes are so high. If successfully commercialized, fusion could provide a powerful source of clean energy without many of the drawbacks of nuclear fission (typically referred to as "nuclear energy"), such as the production of hazardous waste.
There's pictures of some of these contraptions (prototypes) in the article.