The Duck Curve#tennessee
Type One Energy raises $200M Series B for its Tennessee fusion plant
Type One Energy said on October 6, 2026 that it closed a $200 million Series B co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with Lowercarbon Capital, Siemens Energy Ventures and SiteGround Capital among new investors, for its stellarator program and Project Infinity at TVA's Bull Run site. CEO Christofer Mowry told TechCrunch the round should get the company halfway to paying for a 400-megawatt commercial plant.
Ultium Cells to make LMR prismatic EV cells at Spring Hill, Tennessee
Ultium Cells, the GM and LG Energy Solution joint venture, said in a September 28, 2026 release that it will upgrade its Spring Hill, Tennessee plant to make LMR prismatic cells for future GM EVs: modifications begin in 2026, completion is expected in 2028, 500 projected jobs join 1,200 employees, and combined investment with the plant's LFP storage-cell program and facility improvements will reach $1B by 2030. It expects Spring Hill to be first in the world to mass produce prismatic LMR cells, with the potential, it says, for 33% higher energy density than LFP at comparable cost.
NRC issues TVA a construction permit for a 300 MW BWRX-300 at Clinch River
The Nuclear Regulatory Commission issued the Tennessee Valley Authority Construction Permit CPAR-2 for Clinch River Nuclear Unit 1, a GE Vernova Hitachi BWRX-300 rated 300 MWe, dated September 28, 2026 and announced September 29 as clearing the way for the nation's first commercial small modular reactor after a 14-month review. The permit sets the earliest completion date at October 1, 2031 and the latest at September 30, 2032, and a separate operating license is required before fuel load; TVA's release says no construction date has been announced.
Samsung C&T commits up to $100M of investment and engineering to Kairos
Kairos Power and Samsung C&T Engineering & Construction Group signed a binding term sheet, announced September 21, 2026, under which Samsung C&T agreed to provide up to $100 million in direct investment and in-kind engineering services, subject to regulatory approvals, for the Hermes 2 Demonstration Plant, and to join Kairos's EPC team. A Kairos spokesperson told TechCrunch the equity investment makes up $70 million of the total. The NRC issued Hermes 2's construction permits on November 21, 2024; no operating license application appears on the NRC's Hermes 2 page as of September 21, 2026.
UK Fusion Week: a UK-US statement, a supercomputer link and up to £3m
The Global Fusion Policy Summit in London on September 14, 2026 is first on the Fusion Industry Association's listing for UK Fusion Week, which runs to September 17. The UK and US issued a joint statement saying fusion safety standards should be distinct from fission safety standards; UKAEA and PPPL signed a declaration of intent to explore linking the SUNRISE and STELLAR-AI supercomputers; Tennessee, TVA and the UK expanded a fusion partnership; Kyoto Fusioneering committed up to £3 million to a breeder blanket experiment for STEP; and DESNZ published a fusion regulation landscape paper.
Tennessee issues Type One Energy a fusion-specific license
Tennessee regulators announced on August 31, 2026 what the state calls the nation's first license issued under a fusion-specific regulatory framework: a byproduct material license for Type One Energy's Project Infinity at TVA's retired Bull Run coal site in Clinton. The company says it intends to break ground in 2026 and expects a full startup by 2034.
