Helical Fusion secures a $5.5 million Series A extension and a Power Purchase Agreement (PPA) as part of its latest funding round.
Helical Fusion’s Series A extension comes from Ecrowd NEXT and other individual and corporate investors. Ecrowd NEXT is an online crowdfunding platform, offering retail investors unique access to investment opportunities in cutting-edge technology and startups that were previously inaccessible.
This Series A extension brings Helical Fusion’s Series A funding total, including loans, to around $21 million. Helical Fusion’s total funding has reached approximately $38 million.
In addition to their recent Series A, Helical Fusion has also signed Japan’s first ever fusion energy power purchase agreement with Aoki Super, a major regional Japanese supermarket chain.
Takaya Taguchi, Co-Founder, CEO of Helical Fusion (left), and Masayuki Kouno, Representative of Aoki Super (right), at the press conference held in Aichi Prefecture, Japan
Aoki Super, which operates electricity-intensive supermarkets across Japan, views fusion energy as a cost-effective solution for powering its stores. This represents a landmark "retail" PPA, distinguishing it from previous PPAs, such as Google's with CFS and Microsoft's with Helion, which have primarily focused on technology.
