Type One Energy Group, Inc. to Establish HQ and Expand R&D Operations to Tennessee

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Type One Energy Group, Inc. officials announced the company will invest $223.5 million to establish its headquarters and expand operations in Tennessee.

Type One Energy will create a total of 330 new jobs by establishing its headquarters in the Greater Knoxville region and expanding fusion research and development (R&D) operations in Clinton.

In addition, Type One Energy intends to locate at the Tennessee Valley Authority’s (TVA) Bull Run Fossil Plant in Clinton, Tennessee, for the company’s stellarator fusion prototype machine, Infinity One. Construction will begin following completion of required environmental reviews, partnership agreements, permits and operating licenses.

Type One Energy is a leading stellarator fusion energy company and the first recipient of funding through the $50 million Nuclear Energy Fund, which was proposed by Gov. Bill Lee and approved by the Tennessee General Assembly in the 2023-2024 budget.

The Nuclear Energy Fund, established by Executive Order 101, was created to support Tennessee’s nuclear development and manufacturing ecosystem by providing assistance to nuclear power-related businesses choosing to relocate or grow in the Volunteer State.

Source: State of Tennessee ECD

The East Tennessee Economic Development Agency markets and recruits business for the 15 counties in the greater Knoxville-Oak Ridge region of East Tennessee. Visit www.eteda.org

 

Published February 21, 2024