Realta Fusion Raises $36M for Fusion Reactor Development

Realta Fusion Secures Funding for Reactor Design Completion

While certain companies in the fusion energy sector are encountering challenges, Realta Fusion is demonstrating resilience with a new round of funding. This investment is intended to facilitate the finalization of the design for its Anvil prototype reactor.

Kieran Furlong, co-founder and CEO of Realta, stated to TechCrunch that upon completion of their Series A funding phase, they will be able to declare a finalized design. This will position them to commence construction of the Anvil reactor.

Progress Towards Prototype Construction

The company anticipates making substantial advancements within the current and subsequent year. This progress will enable them to present a compelling case to investors for a Series B funding round, earmarked specifically for the construction of the Anvil prototype, according to Furlong.

Realta successfully raised $36 million in this round, led by Future Ventures, with contributions from Avila VC, GSBackers, Khosla Ventures, Mayfield, SiteGround, TitletownTech, and the Wisconsin Alumni Research Foundation.

Previously, the startup secured $9 million in seed funding, also spearheaded by Khosla Ventures. Last summer, the activation of a magnet pair resulted in a new record for magnetic field confinement of plasma within just two weeks.

The Pursuit of Fusion Energy

For a long time, fusion has been proposed as a source of clean energy. However, to date, only a single experiment has achieved scientific breakeven – a key milestone indicating the energy output expected from fusion reactions.

Despite this, the energy produced was still significantly lower than the levels anticipated for a commercially viable fusion power plant.

Numerous scientists and engineers remain optimistic about the feasibility of commercial fusion power plants within the next decade, and Realta shares this outlook.

Cost and Scalability

Realta aims to construct power plants at a cost enabling electricity supply at $100 per megawatt-hour initially. Their goal is to reduce this to $40 per megawatt-hour as their technology matures.

For comparison, current efficient natural gas power plants have construction and operational costs ranging from $45 to $105 per megawatt-hour, as reported by Lazard.

Company Origins and Reactor Design

Realta originated from research at the University of Wisconsin three years ago. The team, now comprising 18 individuals, continues to collaborate with university scientists in the development of a reactor concept that has been under discussion for decades.

This concept, known as a magnetic mirror, utilizes a symmetrical bottle shape to contain plasma. Strong magnets at each end compress the high-energy plasma particles, forcing them back towards the center.

The magnetic fields broaden as they approach the center, where weaker magnets assist in forming a cylindrical plasma core. The reactor’s output can be increased by adding more central sections, which are expected to be more cost-effective to manufacture due to the reduced magnet strength requirements.

Successful operation of the magnets should result in the plasma reaching extremely high temperatures for a sufficient duration to initiate fusion, releasing substantial energy.

Wisconsin's Emerging Fusion Sector

Realta is one of several fusion startups that have recently emerged in Wisconsin. Increased energy demands from data centers in the region – including a planned Microsoft facility – have prompted state legislators to consider legislation to attract both fusion and fission nuclear industries.

Furlong indicated that the state legislature is actively engaged with the topic. He believes there is potential for bipartisan support in this area.

Looking Ahead

Realta, along with the broader fusion industry, faces the challenge of successfully navigating the coming years to realize their plans and demonstrate the viability of fusion power.

“We are moving past the peak of inflated expectations,” Furlong explained, referencing the Gartner hype cycle, a model describing the adoption of new technologies.

He emphasized the importance of avoiding high-profile failures that could negatively impact the entire industry. “We hope for success for all companies involved. The collective goal is for fusion to succeed, and we recognize that approximately 40 to 50 companies are currently working on this technology. Not all will ultimately survive.”