OAK RIDGE, Tenn.--(BUSINESS WIRE)--Type One Energy Group, a leading stellarator fusion energy company, announced the opening of new offices in Oak Ridge during the East Tennessee Economic Council’s fifth annual NOW Conference.
The company’s newest location reflects Type One Energy’s corporate strategy to organize around fusion talent centers. The Oak Ridge office places a team at the heart of a talent-rich fusion hub near the Oak Ridge National Laboratory (ORNL), home to a robust Fusion Energy Division and the U.S. ITER program. Distributed business functions and locations enhance Type One Energy’s partner-rich and capital-efficient FusionDirect program.
“Type One Energy plans to establish a significant local presence to take advantage of the tremendous availability of talent and technical capabilities offered by ORNL and the regional industry,” said Christofer Mowry, CEO of Type One Energy. “We are strategically centering our operations in areas throughout North America that prioritize fusion development. Like our offices in Madison, Wisconsin, and Boston, Massachusetts, each location represents an important node in our company’s long-term plans for collaboration and innovation.”
This expansion follows the company’s recent funding of an over-subscribed seed round of $29M and inclusion in the U.S. Department of Energy’s $46 million Milestone-Based Fusion Development program.
Tennessee Rep. Chuck Fleischmann, co-chairman of the Fusion Energy Caucus and Chairman of the Energy and Water Subcommittee of Appropriations, helped make the region an attractive location for technology companies.
Future expansion for Type One Energy Group is expected near other fusion clusters.
About Type One Energy Group
Type One Energy Group is mission-driven to provide sustainable, affordable fusion power to the world. The company was formed in 2019 by a team of globally recognized fusion scientists with a strong track record of building state-of-art stellarator fusion machines, together with veteran business leaders experienced in successfully scaling companies and commercializing energy technologies. Type One Energy applies proven advanced manufacturing methods, modern computational physics and high-field superconducting magnets to develop its optimized stellarator fusion energy system. Its FusionDirect development program pursues the lowest-risk, shortest-schedule path to a fusion power plant over the coming decade, using a partner-intensive and capital-efficient strategy.