Fusion represents the process of combining two atoms to form a single one, which generates energy and it is believed by some experts to be one of the ideal solutions for the future of clean power, as it could help us produce great amounts of energy. It can generate power from hydrogen, eliminating the radioactive risks associated with traditional nuclear fission power plants.

ESG Today writes that Denver-based Xcimer Energy uses laser technology in order to accelerate the development and deployment of fusion energy, as it plans to reach commercial scale. Using lasers, the company's team of experts is able to create an intense pulse of light, which is then focused onto a tiny sphere of fuel. This generates the high temperatures and pressure that are required to initiate the fusion reactions.

Compared to the laser system at National Ignition Facility (NIF), Xcimer officials claim that their technology can produce up to 10 times higher laser energy at 10 times higher efficiency, as well as over 30 times lower cost per joule of energy produced.

Company officials say that the 100 million USD funding will be used to establish a new facility in Denver, where it will build a prototype laser system to continue the development of this technology, as well as to grow the team of scientists.

Conner Galloway, CEO and Chief Science Officer of Xcimer said that "this Series A financing enables us to achieve key milestones along the path to commercial inertial fusion energy. We’re thrilled that our industry-leading investors, as well as our partners from U.S. national labs, academic institutions and private industry, are joining us on our mission to bring safe, reliable, zero-carbon and economical energy to the world."

Hedosophia and Breakthrough Energy Ventures are two of the investors who participated in financing the Series A round.