Type One Energy has closed on a $29 million financing round, the organization announced today.

According to a release, the funding was co-led by Breakthrough Energy Ventures (BEV), TDK Ventures and Doral Energy Tech Ventures, with additional cleantech investment from Darco, the Grantham Foundation, among others. The funds will be used to scale the development and maturation of the startup’s fusion power-plant concept leveraging continuous operation magnetic confinement.

“We are honored to be chosen by TDK Ventures for its sustainable, mission-driven portfolio of companies,” Type One Energy CEO Christofer Mowry said in a statement. “We look forward to collaboratively scaling the immensely positive impact, which fusion energy promises to have on the future of society and our environment.”

The Middleton, Wis.,-based company, which was founded in 2019, applies proven advanced manufacturing methods, modern computational physics and high-field superconducting magnets to develop its optimized stellarator fusion energy system.