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Zap Energy lands $5M federal grant and ‘vote of confidence’ in pursuit of fusion power

Lisa Stiffler of GeekWire reports that Zap Energy has received $5 million from the Department of Energy.

The C3 Take
  • Launched in 2017, Zap Energy is a fusion energy startup based in the Seattle-area.
  • The $5 million grant comes from the Department of Energy’s Milestone-Based Fusion Development Program, which will be divvying up $46 million to eight commercial fusion companies in the U.S.
  • Zap is in talks with TransAlta, which operates Washington’s last coal plant, to determine if its fusion reactor could be placed at the site of the coal plant when it retires.

“Last year Zap raised $160 million in a round led by Chris Sacca’s Lowercarbon Capital. Its additional investors are Breakthrough Energy Ventures, Shell Ventures, DCVC, Valor Equity Partners, Addition, Energy Impact Partners, and Chevron Technology Ventures.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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