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Fuse

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The next generation of pulsed power fusion

San Leandro, United StatesFounded 2019Energy
Valuation $100–250M Last recorded · 2024
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Fuse and the history behind them.

About Fuse

Fuse Energy Technologies, operating as Fuse, was established in 2019 by co-founders Ryan Wood and Matthew Thompson. The company is pursuing the development of commercially viable fusion energy through a unique approach centered on pulsed power technology. Wood, serving as CEO, brings a background from SpaceX where he focused on high-power electronics and advanced manufacturing for the Starship and Starlink programs. Thompson, the CTO, has a history in advanced military systems, previously working on pulsed power and radiation sciences at Northrop Grumman. Their combined expertise in high-power systems and rapid hardware development informs Fuse's strategy.

The company's business model is strategically dual-pronged. In the immediate term, Fuse addresses the national security market by offering radiation effects testing capabilities. This service supports the U.S. and its allies by simulating environments to test the resilience of critical electronics, generating near-term revenue. The long-term objective is the generation of commercial power through fusion energy. Fuse's technological pathway involves developing a series of machines, with the ultimate goal of creating a fusion pilot plant.

Fuse has developed and built three pulsed power fusion machines since its inception. Its latest machine, TITAN, is a high-power Impedance Matched Marx Generator (IMG). This technology serves as the foundational building block for their planned fusion power plant, designated APEIRON I. The design of TITAN has been peer-reviewed and its experimental results were published in Nature Scientific Reports, lending credibility to their technical approach. The company's methodology focuses on a stabilized Z-pinch fusion concept, which aims to be a more compact and potentially lower-cost alternative to other mainstream fusion approaches like tokamaks.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2019
Headquarters
San Leandro, United States
Employees
59
Open positions
33
Dealroom signal
77.6/100
Industry
Energy
Sub-industry
Clean Energy
Sector
Energy, Sustainable Development Goals, Nuclear Fusion, Climate Tech, Hard Tech, NIF defense security and resilience, NIF Energy Security and Climate Change, DT and LS, science-based
Technology
Hardware, Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

2 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES A✓Equity / VC Sep 2024 $32M $200M Kevin Hartz · Adrian Aoun · MANTIS · Tamarack Global ↗
SEEDEquity / VC Mar 2023 $17M $68M Buckley Ventures · Tamarack Global —
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Growth signals

Fuse website traffic

Latest recorded traffic for Fuse is 10K monthly website visits, down 16.7% over the last three months. Fuse's team grew 9.3% over the past year.

Latest monthly visits10K 3-month web change-16.7% 1-year team growth+9.3%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

CompanyHeadquartersStatusEmployeesTotal fundingValuation
Gauss FusionIndustrial-scale stellarator fusion power plant development Hanau, Germany Operational 42 $11M —
Novatron Fusion GroupCost-effective fusion energy solution using stable magnetic mirrors Stockholms kommun, Sweden Operational
Xcimer EnergyExcimer-based laser fusion architecture to commercialize safe, affordable fusion energy while advancing national security. Denver, United States Operational
Renaissance FusionRenaissance Fusion builds on the success of stellarator experiments, makes them reactor-ready by quadrupling the magnetic field and simplifies them using proprietary High-Temperature Superconductors manufacturing and flowing liquid-metal walls Fontaine, France Operational
General FusionCommercializing clean energy with Magnetized Target Fusion technology Richmond, Canada Operational
Crossfield FusionCrossfield Fusion has been developing a novel compact fusion reactor targeting carbon free heat and power generation. The company adopted a new approach to building fusion reactors based on patented technology called the Epicyclotron London, United Kingdom Operational
Avalanche EnergyAvalanche Energy is developing a 5kWe fusion power pack called the “Orbitron” in a form-factor the size of a lunch pail. The compact size is a key enabler of scaling for applications including micro-grids, long haul trucking, maritime shipping, aviation and space power and propulsion Seattle, United States Operational
First Light FusionInspired by the only natural example of inertial confinement on Earth, First Light Fusion is developing a practical pathway to fusion energy using the simplest machine possible Yarnton, United Kingdom Operational
Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

14 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed2 investors entered at this stage

  • Buckley Ventures
  • Tamarack Global

Series A10 investors entered at this stage

  • Kevin Hartz
  • Adrian Aoun
  • MANTIS
  • Sky Dayton
  • Abstract Ventures
  • Bracket Capital
  • Laura Thomas
  • Packy McCormick
  • Doug Greenlaw
  • Lisa Gordon-Hagerty

Other known investors2 additional known investors

  • Hexagon
  • WorldQuant Ventures
Team profiled 10 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 1 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
3 countries with
team presence
🇺🇸 United States74.5%
🇨🇦 Canada23.6%
🇵🇭 Philippines1.8%
3 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Fuse on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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