Zap Energy, a fusion energy startup, announced the closing of a USD 160 million Series C funding round led by Lowercarbon Capital. New investors Breakthrough Energy Ventures, Shell Ventures, DCVC, and Valor Equity Partners participated in the round along with existing investors Addition, Energy Impact Partners (EIP), and Chevron Technology Ventures.
The round brings Zap’s total funding to USD 202.8 million. The proceeds will be used to build Zap’s prototype fusion reactor, FuZE-Q, and to commercialize its technology.
Zap also announced that it has succeeded in creating the first plasmas in FuZE-Q.
Analyst QuickTake: Zap’s technology is different from the other fusion energy startups, as it uses the “sheared-flow-stabilized (SFS) Z pinch” technique, which does not require the use of superconducting magnets or high-powered lasers.