Fusion Energy’s Potential: Dr. Kid Parchariyanon on SeaX Ventures’ Investment in Type One Energy

Type One Energy, a fusion power company backed by Bill Gates and the U.S. Department of Energy, recently announced use agreements with the Tennessee Valley Authority, Commonwealth Fusion Systems, and Pine Island New Energy. These agreements are expected to support the commercialization of fusion energy, a potential source of sustainable power. SeaX Ventures, one of Type One Energy’s early investors, has been involved in the company’s progress since 2023.

SeaX Ventures is a $100 million Thailand-based venture fund that invests in deep-tech startups globally. The firm focuses on technologies that address major challenges, including climate change. One of its goals is to support innovations that contribute to reducing global carbon emissions by 1%, aligning with its investment in fusion energy.

Its Portfolio company, T1E is a sustainable fusion power company that’s also backed by Bill Gates and the U.S. Department of Energy. Today, they’ve announced historic use agreements with the Tennessee Valley Authority and Commonwealth Fusion Systems that are paving the way for commercialized fusion energy.

AsiaTechDaily spoke with Dr. Kid Parchariyanon, founder and managing partner of SeaX Ventures, about the firm’s investment in Type One Energy. In this interview, he discusses what attracted SeaX to the company, its role in supporting fusion energy, and broader trends in climate tech investments.

What initially attracted SeaX Ventures to invest in Type One Energy?

At SeaX Ventures, one of our main goals is to invest in world-class entrepreneurs and the transformative technologies they’re building. We’re also very focused on climate tech innovations that will make strides toward the goal of net-zero emissions. We believe that fusion has the potential to truly transform the global energy landscape, which is what attracted us to Type One Energy back in 2023. 

Type One Energy stood out due to their innovative approach and goal of producing a more stable path to commercial fusion energy. We’re impressed with all they’ve already been able to accomplish and look forward to seeing how they continue to transform how the world generates sustainable power.  

How does Type One Energy align with SeaX Ventures’ broader investment strategy?

At SeaX Ventures, we invest in companies that are solving the world’s biggest challenges and are working toward a sustainable future, and fusion represents a breakthrough with the potential for massive global impact.

Our investment strategy is guided by two core goals: driving 1% of GDP growth for Southeast Asia and reducing global carbon emissions by 1%. Type One Energy aligns with our mission, as commercial fusion can drive economic growth while significantly reducing carbon emissions. 

SeaX Ventures has been supporting Type One Energy since 2023—what progress has the company made since your initial investment?

Since our initial investment, Type One Energy has made major technical advancements, expanded its teams, and secured key industry and government partnerships. They recently announced their first customers through landmark use agreements with the Tennessee Valley Authority, Commonwealth Fusion Systems, and Pine Island New Energy – paving the way for commercialized fusion energy.

As one of Type One Energy’s earliest investors, it’s exciting to see them making strides toward their goal of providing clean, sustainable energy and we’re proud to be supporting them.

What role did SeaX Ventures play in the recent $82.4 million seed funding round?

Not only did we assist in raising the $80 million round, but we’re also one of the biggest supporters of innovation in Southeast Asia. For example, we recently hosted Type One Energy in Thailand, bringing together high-profile CEOs and top executives from private, public, and non-profit organizations. The goal was to explore technological advancements and opportunities to position Thailand as a fast follower in building its first fusion power plant.”

Bill Gates’ Breakthrough Energy Ventures led the recent funding round. How does the company collaborate with other investors to accelerate Type One Energy’s growth?

Fusion energy is a long-term challenge that benefits from the support of a strong network of partners and investors. Being part of this past funding round alongside Breakthrough Energy Ventures and other leaders in the space reflects our commitment to supporting technologies that have the potential to make a global impact. 

Every investor offers something different, so collaboration ensures that Type One Energy has the resources, expertise, and industry connections to reach their goals faster. At SeaX Ventures, we focus on providing founders with the support and connections they need to navigate the early stages of building a company.

SeaX Ventures has invested in several deep-tech and energy startups—what key trends are you seeing in the fusion energy sector?

Fusion is starting to move from the research phase to the commercialization phase, with significant private investment accelerating development. We’re seeing this with Type One Energy, as they’re making strides in producing commercialized fusion energy. Beyond that, we’re even starting to see governments step up support as they recognize that fusion could be a critical part of the clean energy discussion in the coming years.

Given the increasing focus on decarbonization, how do you evaluate the impact of your investments on global sustainability goals?

At SeaX Ventures, we invest in technologies that drive meaningful, scalable impact, with a strong focus on advancing global sustainability. Our goal is to support breakthrough innovations that actively reduce carbon emissions and accelerate the transition to clean energy.

Fusion is a prime example. If it’s successful, fusion could provide nearly limitless clean energy, significantly reducing our reliance on fossil fuels. That’s why we’ve invested in a company like Type One Energy that is working to make commercial fusion a reality. 

Beyond fusion, we back startups developing solutions in renewable energy, carbon capture, and other climate technologies that align with our mission to create a more sustainable future.

What role do you see government policies and regulations playing in the future of fusion energy?

Government support is essential, from funding early-stage research to creating regulatory pathways for commercialization. In general, we’re seeing positive momentum with increased investment in fusion programs and discussions on licensing. As the technology matures, proactive policies and government buy-in will be key to accelerating deployment and potentially scaling this technology globally.

What other sectors or technologies is SeaX Ventures currently exploring for investment?

Beyond climate tech, we’re always looking at industries and companies that have the potential to make an impact on a global scale, like biotech, AI, and blockchain. For example, we’ve invested in companies like Hoxton Farms, which is creating sustainable fats to combine with meat alternatives, and RyboDyn, which is pioneering immunotherapies targeting the dark genome. Our main goal is to support companies that are solving complex challenges with scalable solutions.

As I’ve shared, we believe that climate tech is more urgent than ever – especially as the region grapples with rising sea levels and extreme weather. Innovations in energy efficiency, sustainable agriculture, and decarbonization will be essential in tackling these challenges.

Finally, what advice would you give to startups looking to attract investment from you?

At SeaX Ventures, we’re very careful when deciding which early-stage companies we want to invest in. We’re always looking for bold founders tackling important challenges with technology that can truly scale and disrupt entire industries. The best startups don’t just have breakthrough ideas, but a team that can execute with a clear path to market. 

We’re especially focused on startups that contribute to our ambitious goals of reducing global carbon emissions by 1% and driving 1% of GDP growth for Southeast Asia through transformative technology. Put simply, we look for companies whose vision aligns with ours: driving innovation that fuels economic growth and sustainability. 

The VC firm continues to focus on investments in deep-tech and climate technology, aligning with its goal of supporting innovations that address global challenges. As fusion technology progresses, companies like Type One Energy are working to advance commercialization through industry partnerships and funding support. With backing from from renowned investors, the company aims to develop a scalable fusion power solution, contributing to the broader transition toward clean energy.