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Zap Energy confirms $130M round, shares progress on its demo power plant system
- Zap Energy is part of the race to produce commercially viable energy by smashing together and fusing light atoms, releasing power.
- Zap completed construction of its Century System, which includes a plasma-producing device and other key power-making technologies.
- Current investors in its recent Series D of $130m include Addition, Chevron Technology Ventures, Breakthrough Energy Ventures, Shell Ventures, Summer Impact Partners, big-name philanthropist organizations, and new investors Mizuho and Plynth Energy.
- Century creates a case study of successfully integrating technologies for power plants.
- The company's objective is to deliver a commercial power plant, not just prove a science experiment.
- Zap uses sheared-flow-stabilized Z-pinch technology, compressing material to produce sufficient fusion conditions.
- Zap demonstrated more than 1,000 consecutive plasmas in three hours but further adjustments are required.
- Japan's Mizuho Bank and Abu Dhabi government-owned energy fund Plynth Energy are the two new strategic investors, Conway says.
- Zap Energy is one of eight Milestone-Based Fusion Development Programme recipients selected by the US Department of Energy.
- Fusion could be a solution for a growing clean energy demand due to expanding data centres, among other things, if and when it is commercialized.
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