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Type One Energy has secured $87 million through a convertible note, bringing its total funding to over $160 million as it prepares for a $250 million Series B round at a $900 million pre-money valuation. The company, which specializes in stellarator-based fusion technology, has partnered with the Tennessee Valley Authority to develop its first commercial power plant, Infinity Two, expected to generate 350 megawatts by the mid-2030s. Type One's strategy focuses on licensing its technology to utilities rather than building plants directly.