Pulsed magneto-inertial fusion; signed a power purchase agreement with Microsoft.
The Commerce Department signed CHIPS letters of intent on October 22 for up to $389M across four companies, including up to $175M for Helion and $85M for Commonwealth Fusion Systems, with a minority, non-voting federal equity stake as a condition. The money is for power and radiation-hardened semiconductors fusion plants need. These are letters of intent, not final awards.
Helion changed its website from saying Orion, the fusion plant contracted to supply Microsoft, would produce electricity by 2028 to saying it will "begin initial operations in 2028". A spokesperson said the plant would "in no universe" reach its full 50 MW in 2028, putting full power in 2029 or 2030, and the goal for the Polaris prototype changed from net electricity to demonstrating electricity from fusion.
Records now fall on separate axes — gain 4.1 at NIF, 1,337 s at WEST, 150M°C at Helion — while the fairest physics yardstick, the triple product, still belongs to a 1996 experiment. A read of every fusion number this tracker holds, and what each one does and does not prove.
Helion Energy / Washington DOH — Helion secured the licenses to build and operate its Orion plant in Malaga, WA — a Radioactive Materials License and a Radioactive Air Emissions License from the Washington Department of Health — the first US (and world) fusion firm to clear full plant licensing. Under the NRC's decision to regulate fusion like particle accelerators rather than fission reactors, the state DOH is the licensing body. Electricity to Microsoft is targeted by 2028. In September 2026 Helion softened that: its website now says Orion will "begin initial operations in 2028" rather than produce electricity then, a spokesperson said the plant would "in no universe" reach its full 50 MW in 2028, putting full power in 2029 or 2030, and the stated goal for its Polaris prototype changed from producing net electricity to demonstrating electricity from fusion. The Microsoft contract requires Orion to be connected to the grid and begin operations by the end of 2028.
Helion Energy — Thrive Capital-led $465M Series G nearly triples Helion's valuation to $15.5B and brings total raised to ~$1.5B, funding manufacturing scale-up toward its 2028 power deal with Microsoft.
Helion Energy — Polaris reaches 150M°C — first privately built machine to do D-T fusion, beating Helion's own 100M°C (Trenta).
Helion Energy — Chelan County permits Helion's Orion plant in Malaga, WA — up to 50 MW to Microsoft, targeted by 2028.
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Commonwealth Fusion Systems 
Microsoft (Azure Quantum) 
NIF / LLNL 
WEST (CEA)