Fundraising Fox

F

Founded 2019 Β· 58 employees on LinkedIn Β· 7 known investors

Fuse Energy develops fusion energy technology, with work spanning hardened electronics and radiation testing (HEART) and recycling of radioactive waste, aiming to provide an on-demand clean energy source. It brings together a team across engineering, fusion science, energy policy, and manufacturing.

Also known as Fuse Β· Fuse Energy Β· Fuse Energy Technologies Corporation

Investors Β· 7

Also in the syndicate Β· 2

D. E. Shaw VenturesElephantlead

Funding

SEC filings, press & company announcements

Source: company announcements and press reports β€” follow each round's link for the claim.

Valuation Β· disclosed

Disclosed events
$200Mvaluation at Venture roundSep 2024
filing β†—

Source: SEC prospectus filings, and round valuations the company or its investors disclosed β€” follow each entry's link for the claim.

Company profile

researched Aug 2026

Fuse Energy Technologies Corporation, known as Fuse and operating at f.energy, is a privately held U.S. company working at the intersection of defense and fusion power. It builds advanced pulsed-power radiation machines that generate short bursts of radiation, used to test the resilience of government and commercial hardware, and is developing fusion generators intended to deliver clean energy. The company was founded in 2019 and is headquartered in San Leandro, California, where it operates a radiation facility.

The company's technical approach is magnetized-liner inertial fusion (MagLIF), a Z-pinch magneto-inertial fusion concept whose feasibility for fusion engineering breakeven was demonstrated by Sandia National Laboratories in 2018 and 2022. Fuse states that the remaining obstacles are repetition rate and cost, and it focuses on engineering efficiency and affordability. Its development sequence runs from TITAN, a 1 TW impedance-matched Marx generator (IMG) described as 90% energy efficient and built from 16 IMG modules; to Z-Star, a 15 TW MagLIF generator with roughly 90 IMG modules intended to work through system engineering challenges; to APEIRON-I, a planned MagLIF plant core. Additional named programs include FAETON and ICECAP. Fuse frames its roadmap in three phases: hardened electronics and radiation testing (HEART), recycling of radioactive waste, and ultimately an on-demand clean energy source.

Fuse's leadership and advisory ranks are drawn heavily from U.S. national security institutions. Former Los Alamos National Laboratory chief engineer James Owen is president of subsidiary Fuse Federal, LLC; former CIA Afghanistan base chief Laura Thomas is chief strategy officer; and former Atomic Energy Organization of Iran scientist Vahid Damideh is chief engineer. Lisa Gordon-Hagerty, former NNSA administrator and Under Secretary of Energy, joined the board in 2024 and also sits among an advisory board that includes former senior officials from Palantir, the CIA, the NSA, the Department of Justice, the Defense Counterintelligence and Security Agency, Lockheed Martin, and the Joint Staff.

Founding story

Fuse was founded in 2019 by J.C. Btaiche, then 19 years old, initially to evaluate different fusion power approaches before selecting pulsed-power-driven MagLIF.

Business model

Fuse sells radiation and nuclear effects testing services and machines to national security customers, using that revenue-generating defense business as an intermediate commercial step on the way to fusion power generation. It holds contracts with the U.S. Air Force and the National Nuclear Security Administration and cooperative research and development agreements with Sandia National Laboratories and Los Alamos National Laboratory.

Government and defense contracts for nuclear effects and radiation testing; the company positions nuclear effects testing as a revenue source along the pathway to commercial fusion.

Traction

Fuse reports delivering two neutron-producing fusion generators and what it calls the world's first IMG pulser in under three years, 18 patents, FAETON I moving from concept to operation in four months, and TITAN going from concept to first shot in eight months. It holds U.S. Air Force and NNSA contracts and CRADAs with Sandia and Los Alamos national laboratories, and had 53 employees as of 2024.

Latest developments

Coverage referenced by the company in 2026 includes a five-year agreement expanding its NNSA footprint at the Nevada National Security Site, a planned Albuquerque facility, and claims of the highest neutron yield by a fusion company; in July 2025 Fuse signed a cooperative research and development agreement with Los Alamos National Laboratory.

β–ΈFull profile β€” market position, technology, go-to-market, geography, history

Market position

Fuse is one of a number of private fusion companies pursuing commercial fusion power, differentiated by an inertial/magneto-inertial pulsed-power approach and by a defense radiation-testing business that operates before fusion power is achieved.

Rather than waiting on fusion power revenue, Fuse pairs fusion development with radiation and nuclear effects testing services for national security customers, and builds on the MagLIF concept validated at Sandia National Laboratories using impedance-matched Marx generator pulsed-power drivers it claims to have designed, built and fired on short timelines.

Technology

Fuse develops high-energy, high-power impedance-matched Marx generators (IMG) as pulsed-power drivers for magnetized-liner inertial fusion (MagLIF) Z-pinch magneto-inertial fusion. TITAN, a six-stage IMG, was live-fire tested and its experimental results published in Scientific Reports in July 2024 as a 330 GW impedance-matched Marx generator; the company describes TITAN as a 1 TW, 90% energy-efficient machine with 16 IMG modules. Planned follow-ons are the 15 TW Z-Star test platform and the Apeiron I pilot plant core. The company also cites the FAETON I machine, capable of generating more than a trillion neutrons, and reports 18 patents.

Go-to-market

Direct engagement with U.S. defense and energy agencies through contracts, subsidiary Fuse Federal, LLC, and cooperative research and development agreements with national laboratories, supported by an advisory board of former senior national security officials.

U.S. government national security customers, including the Air Force, the National Nuclear Security Administration and national laboratories, alongside commercial hardware makers needing radiation-hardness testing.

Geography

Headquartered in San Leandro, California, with a radiation facility at that site; press coverage cited by the company refers to a planned Albuquerque, New Mexico facility and an agreement involving the Nevada National Security Site.

History

J.C. Btaiche founded Fuse in 2019 at age 19 to evaluate fusion power methods, and the company settled on an advanced pulsed-power machine to drive a MagLIF Z-pinch magneto-inertial fusion device. In February 2024 it received a U.S. Air Force contract for new nuclear effects testing options, and in July 2024 it published results from a live-fire six-stage test of TITAN. In 2024 it announced designs for the Z-Star test platform and the Apeiron I pilot plant, added Lisa Gordon-Hagerty to its board, and raised financing that valued it above $200 million; in November 2024 Los Alamos chief engineer James Owen joined. In July 2025 it signed a cooperative research and development agreement with Los Alamos National Laboratory.

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
EmployeesJan 202453 people
HeadcountAug 202658
IMG generator power (published experimental result)Jul 2024330 GW
Neutrons generated with FAETON IJan 20261+ trillion
PatentsJan 202618 patents
TITAN energy efficiencyJan 202690%
TITAN peak powerJan 20261 TW
ValuationSep 2024$200M
Z-Star design powerJan 202615 TW

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Competitors Β· 4

by search overlap

Companies competing with F for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline Β· 8

launches, deals, and filings
Aug 2026
Five-year Nevada National Security Site agreement

Press coverage reported Fuse expanding its NNSA footprint through a five-year NNSS agreement.

source β†—

Apr 2026
Planned Albuquerque facility

Press coverage reported Fuse would open a facility in Albuquerque, New Mexico.

source β†—

Jul 2025
Cooperative research and development agreement with Los Alamos National Laboratory

Fuse signed a CRADA with Los Alamos National Laboratory.

source β†—

Nov 2024
Los Alamos chief engineer James Owen joins Fuse

Former Los Alamos National Laboratory chief engineer James Owen joined Fuse; he serves as president of subsidiary Fuse Federal, LLC.

source β†—

Jul 2024
TITAN impedance-matched Marx generator live-fire test and published results

Fuse conducted a live-fire, six-stage test of the first high-energy, high-power impedance-matched Marx generator, TITAN, and published experimental results in Scientific Reports.

source β†—

Feb 2024
U.S. Air Force contract for nuclear effects testing prototypes

Fuse was awarded a contract from the United States Air Force to develop new nuclear effects testing options for the military.

source β†—

Jan 2024
Lisa Gordon-Hagerty joins board of directors

Former NNSA administrator and Energy Department Under Secretary Lisa Gordon-Hagerty joined Fuse's board of directors.

source β†—

Jan 2024
Z-Star and Apeiron I platforms announced

Fuse announced it was developing designs for two additional fusion platforms: the Z-Star test platform and the Apeiron I pilot fusion plant.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

β–ΈResearch sources Β· 8

primary sources listed
  • Ff.energy Β· web

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does F do?
Fuse builds pulsed-power radiation testing machines for national security customers as a path to commercial MagLIF fusion energy.
Who are F's investors?
F's investors include Abstract Ventures, Mantis Capital, WorldQuant Ventures, Arthur Ventures, Koch Disruptive Technologies.