Helion Signs Letter of Intent for $175 Million CHIPS Award to Advance U.S. High Voltage Semiconductor R&D to Support Fusion Energy

• Funds will support next-generation semiconductor research and development in Everett, Washington, enabling substantial power module manufacturing capability in Washington state.
• Project will also support research and development for domestic next-generation semiconductor tooling.

EVERETT, Wash.--(BUSINESS WIRE)--Helion, a Washington-based fusion energy company, announced today it has signed a letter of intent with the U.S. Department of Commerce to receive up to $175 million in funding through the CHIPS Research and Development Office to conduct R&D critical for the development and manufacturing of next-generation semiconductor technologies for commercial fusion energy. The expected federal award will be accompanied by $50 million in additional private investment and will support new semiconductor research, manufacturing, and advanced-packaging capabilities in the U.S.

“Building fusion power plants at scale requires us to accelerate the development of technologies like semiconductors that are critical to making fusion possible,” said David Kirtley, CEO of Helion. “This award combined with additional private investment, totaling $225 million, will allow Helion to develop and manufacture advanced semiconductors here in the United States that deliver the efficiency, reliability, and performance our systems require. It’s an important investment in both America’s semiconductor manufacturing base and the future of commercial fusion.”

Helion’s fusion systems rely on high-power pulsed electrical systems that must repeatedly and efficiently switch and recover large amounts of energy. Semiconductors that perform at the levels the company requires are currently only available from overseas manufacturers. The CHIPS Act Award will support R&D for the U.S. development and transition to manufacturing of Helion's next-generation, high-voltage semiconductors, designed to deliver higher efficiency, longer operating lifetime, and more efficient cooling. Developing these technologies domestically will improve reliability, reduce costs, and remove global supply-chain constraints and risks as Helion moves toward commercial deployment.

“The Trump Administration is accelerating American semiconductor innovation to enhance our domestic energy and power resources,” said Secretary of Commerce Howard Lutnick. “This investment expands domestic research, secures critical supply chains, and creates high-paying American jobs.”

More than $100 million will support next-generation semiconductor and advanced packaging research and development in Everett, Washington and bring over 100 jobs and substantial power module manufacturing capability to Washington state. The work will also advance new semiconductor packaging capabilities designed to integrate multiple semiconductor devices into efficient, mass-deployable packages.

In addition, approximately $80 million will support R&D for next-generation semiconductor tooling, design, and process development in collaboration with an industry partner in Burlington, Vermont, further strengthening the domestic supply chain for technologies Helion needs to manufacture fusion power plants at scale.

The remaining funds will support R&D for additional enhancements to semiconductor packaging and manufacturing automation.

“This CHIPS R&D award will support innovation in next-generation semiconductor power modules and devices critical to advancing fusion energy,” said Bill Frauenhofer, Executive Director of Semiconductor Investment and Innovation at the Department of Commerce. “Accelerating this R&D domestically will support breakthroughs in America’s ability to convert and deliver power to critical applications in defense, grid transmission, and advanced energy generation.”

Delivering American-made fusion energy to the grid could fundamentally change U.S. strategy from managing energy scarcity to harnessing clean energy abundance, unlocking new industries, strengthening national security, and improving quality of life for all Americans.

Separately, upon entering into a definitive award agreement, to enhance the return for the U.S. taxpayer, the U.S. Department of Commerce would receive a $175 million non-voting interest in Helion based on its most recent Series G preferred stock valuation as a payment for entering into the Award.

The CHIPS Act Award announcement adds to a year filled with significant milestones achieved by Helion, including a $500 million Series G investment round, becoming the first private fusion energy company to demonstrate deuterium-tritium (D-T) fusion and achieve plasma temperatures of 150 million degrees Celsius, as well as ongoing momentum behind Orion, the company’s first fusion power plant.

About Helion

Helion is a fusion energy company focused on generating zero-carbon electricity from fusion. Its mission is to build the world’s first fusion power plant, enabling a future with unlimited clean electricity. To keep up with the latest progress, visit helionenergy.com and follow Helion on LinkedIn, Instagram, Facebook, and X.