Fusion energy start-up HB11 Energy launched to accelerate German-Australian physicist Heinrich Hora's vision of clean, safe and abundant fusion energy

HB11 Energy raised $A 4.6M in an over-subscribed pre-seed financing round.

HB11 Energy has launched its experimental program developing a new source of clean, safe and reliable electricity using the fusion hydrogen and boron-11 (the HB11 reaction).

New on the board: German entrepreneur, investor and multiple founder Lukasz Gadowski.

SYDNEY, Feb. 19, 2021 /PRNewswire/ --A HB11 Energy Holdings Pty Ltd recently closed its oversubscribed pre-seed fundraise at $A4.6M and commenced its experimental program after opening the round in April 2020.This investment has established Australia's first commercial fusion energy company, which will now drive an international R&D program aimed at the Holy Grail of fusion energy research - to demonstrate net energy gain and prove that HB11 Energy can develop a clean, safe and virtually unlimited source of large-scale electricity production.The round was entirely funded by high-net-worth individuals. A "Since launching our pre-seed round in April last year, we've been overwhelmed by investors interested in the environmental impact of our technology, as well as the financial returns inherent in our success," said Dr Warren McKenzie, Founder and Managing Director of HB11 Energy.Prof Hora's career's work has been motivated by the enormous benefits of the HB11 reaction for energy generation over other nuclear energy approaches. The HB11 reaction creates electricity directly, the fuels are safe and abundant, it does not create harmful radiation and there is no possibility of a reactor melt-down. Patents have been granted in four countries for Hora's concept generator.
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