Madison’s Realta Fusion, a 2022 startup, and Middleton-based Type One Energy Group were among eight U.S. businesses awarded a total of $46 million yesterday in an effort to curb the climate crisis through nuclear fusion, the Wisconsin State Journal reports.
Realta received $12 million, including $3 million from the U.S. Department of Energy and $9 million from Khosla Ventures, a California investment company. The funds will go toward designing a magnetic bottle device that would help reduce the fossil fuel reliance of some industries.
Type One Energy also received federal funds but did not confirm the amount of funding or the specifics of the nuclear fusion project for which it would be used.
The $46 million in awards comes from the federal Energy Act of 2020, working to advance nuclear fusion technologies and covering the first 18 months of research for each recipient company’s project.Â
