San Francisco-based Silicon Valley Bank, a division of First Citizens Bank, is providing a growth capital facility worth $9.5 million to Madison-based Realta Fusion, according to BizTimes Milwaukee.
Realta Fusion is developing modular, compact magnetic mirror fusion energy generators. This technology delivers clean, reliable energy while addressing the need for scalable, zero-carbon solutions as industries embrace artificial intelligence and cloud computing.
Realta Fusion is partnering with the University of Wisconsin-Madison to develop its fusion technology through the Wisconsin High-field Axisymmetric Mirror (WHAM) project. WHAM recently achieved its first plasma, a major milestone in demonstrating the potential of high-field magnetic mirror technology to create commercially viable fusion energy.
Last May, Realta Fusion also closed a $36 million Series A funding round to support the commercialization of its technology. TitletownTech participated in that round of funding.
