Everett's Helion lines up a potential $175 million CHIPS award for fusion semiconductors
A letter of intent with the Commerce Department would give the agency a non-voting equity stake. Helion is also putting in $50 million.
Helion Energy, the Everett, Washington, fusion company, said on Thursday it has a letter of intent with the U.S. Department of Commerce for up to $175 million over three years for research and development tied to semiconductors for commercial fusion, GeekWire reported. The money would come through the CHIPS Research and Development Office. The deal is not final. If it closes, Commerce would receive a $175 million non-voting equity interest in Helion. Helion is also putting $50 million of its own money into the semiconductor work.
More than $100 million would support research and manufacturing in Everett on high-voltage semiconductors and advanced packaging. About $80 million would support next-generation semiconductor work with GlobalFoundries. Helion's Orion fusion plant is under construction in Malaga, Washington, with plans to start operating in 2028. No fusion company has yet shown a plant that makes more energy than it consumes.
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