Realta Fusion has secured a $9.5 million growth capital facility from Silicon Valley Bank (SVB), a division of First Citizens Bank, the companies announced Tuesday.
The financing is structured as debt rather than equity and is intended to help the Madison, Wisconsin fusion startup advance development of its compact, modular fusion system, which the company is positions as a source of on-site industrial heat and power for heavy industries such as data centers, chemical processing, metal recycling, and remote mining.
"While our approach promises to be a lower capital path to fusion energy than some other concepts, we are still a deep tech company with significant capital needs," Realta Fusion CEO and Co-Founder Kieran Furlong said in the financing announcement.
Realta’s approach uses magnetic mirror confinement: strong magnets hold superheated hydrogen gas in a cylindrical chamber, where the company says collisions between hydrogen atoms produce fusion and release energy that can be delivered as heat or electricity. The startup traces its origins to work at the University of Wisconsin–Madison and says it was the first to confine plasma in a mirror configuration using high-temperature superconducting magnets at a reported peak field of 17 tesla.
Dennis Grunt, Managing Director, Technology and Healthcare Banking at Silicon Valley Bank said that Realta "has the potential to transform energy use across data centers, manufacturing, and other heavy industries."
The new facility follows a $36 million Series A the company disclosed in May 2025, led by Future Ventures. The funding round included participation from iconic Silicon Valley VC firm Khosla Ventures, which led the company’s 2023 seed round.
Realta has positioned its compact, scalable “CoSMo fusion” design as targeting industrial heat markets, areas that industry analysts suggest could be near-term commercialization pathways for fusion compared with grid-scale power generation.
