Helion lines up potential $175M CHIPS award for fusion semiconductors

Helion Energy announced a letter of intent with the U.S. Department of Commerce for up to $175 million over three years to develop high-voltage semiconductors and advanced packaging for commercial fusion, with Commerce receiving a non-voting equity stake. More than $100 million goes to R&D and manufacturing in Everett, Wash., creating over 100 jobs, and about $80 million supports work with GlobalFoundries. Helion is also adding $50 million of private investment as it builds its Orion plant, targeted for 2028.