And also an r/fusion post documenting prior claims:
> “The Helion Fusion Engine will enable profitable fusion energy in 2019,” - NBF 7/18/2014.
> “If our physics holds, we hope to reach that goal (net energy gain) in the next three years,” - D. Kirtley, CEO of Helion in the Wall Street Journal 2014.
> “Helion will demonstrate net energy gain within 24 months, and 50-MWe pilot plant by 2019,” - NBF 8/18/2015.
> “Helion will attain net energy output within a couple of years and commercial power in 6 years,” - Science News 1/27/2016.
> “Helion plans to reach breakeven energy generation in less than three years, nearly ten times faster than ITER,” - NBF 10/1/2018.
> Their newest claim on their website is: "We expect that Polaris will be able to demonstrate the production of a small amount of net electricity by 2024."
I'm sure all this came up in any due diligence as well. They are on Series E after all.
More than a decade of missed milestones is not the type of company that gets this many rounds of investment.
A lot of people really want fusion to happen, and happen sooner. I think that leads to people taking far higher risks with the capital. This sort of investment is always risky, but donating to a grander cause of technology advancement can be a reason for the investment, in addition to expected future value of the investment.
"Helion Raises $500 Million, Targets 2024 for Demonstrating Net Electricity from Fusion" https://www.helionenergy.com/articles/helion-raises-500m/
And also an r/fusion post documenting prior claims:
> “The Helion Fusion Engine will enable profitable fusion energy in 2019,” - NBF 7/18/2014.
> “If our physics holds, we hope to reach that goal (net energy gain) in the next three years,” - D. Kirtley, CEO of Helion in the Wall Street Journal 2014.
> “Helion will demonstrate net energy gain within 24 months, and 50-MWe pilot plant by 2019,” - NBF 8/18/2015.
> “Helion will attain net energy output within a couple of years and commercial power in 6 years,” - Science News 1/27/2016.
> “Helion plans to reach breakeven energy generation in less than three years, nearly ten times faster than ITER,” - NBF 10/1/2018.
> Their newest claim on their website is: "We expect that Polaris will be able to demonstrate the production of a small amount of net electricity by 2024."
https://www.reddit.com/r/fusion/comments/133ttne/can_we_talk...
I'm sure all this came up in any due diligence as well. They are on Series E after all.
More than a decade of missed milestones is not the type of company that gets this many rounds of investment.
A lot of people really want fusion to happen, and happen sooner. I think that leads to people taking far higher risks with the capital. This sort of investment is always risky, but donating to a grander cause of technology advancement can be a reason for the investment, in addition to expected future value of the investment.