Fusion's promise and Helion Energy's big-name backers have many investors eagerly anticipating its initial public offering (IPO). Here's everything you need to know about investing in Helion Energy ahead of any future IPO.
Is Helion Energy publicly traded?
Helion Energy is not a publicly traded company. It's a private company owned by Altman and other investors, including Mithril Capital, Capricorn Investment Group, Dustin Moskovitz, Lightspeed, SoftBank Vision Fund 2, and Nucor (NUE -2.75%).
IPO
Is Helion Energy profitable?
As a private company, Helion Energy doesn't have to publicly disclose its financial results, so there wasn't any publicly available information about its profitability.
However, the company likely wasn't profitable. It was still working to develop commercial fusion power. It has committed to begin producing fusion power by 2028 for Microsoft. If it doesn't, it will need to pay financial penalties. It also has a deal to build a plant to produce power for steelmaker Nucor, which it hopes to bring online in the 2030s.
The company isn't yet producing power, so it's likely not generating revenue while posting significant losses. Helion is investing heavily in testing its fusion technology as it works towards a commercial breakthrough. Since no company has ever produced electricity from fusion, Helion might never make money on the technology.
Should I invest in Helion Energy?
Most people can't invest in Helion Energy yet. That gives them a lot of time to decide whether the nuclear fusion company will be a good investment for their situation. With that in mind, here are some reasons why you might want to invest in Helion Energy when it goes public:
- You believe that Helion Energy can harness the power of fusion energy.
- You're a fan of Altman and want to invest in companies he's backing.
- You believe that Helion Energy will eventually be able to make money on fusion technology.
On the other hand, here are some reasons why Helion Energy might not be right for you:
- You don't think we'll ever harness the power potential of fusion.
- You're concerned about Altman's involvement in the company.
- You don't know if fusion power will ever be commercially viable.
- You're concerned about the amount of money Helion Energy will need in the future to develop its technology and generating facilities.
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ETFs with exposure to Helion Energy
Since Helion Energy remains a private company, you can't passively invest in the fusion company through an exchange-traded fund (ETF). However, you can invest in nuclear energy and other clean energy technology through ETFs. Here are some top options to consider:
- VanEck Uranium and Nuclear ETF (NLR 3.37%): This ETF aims to track the global nuclear energy sector, including uranium mining, nuclear power production, and companies that provide services to the nuclear industry. The fund had 28 holdings in early 2025, including Constellation Energy (second-largest at 8.1% of its holdings), Cameco (eighth-largest at 5.4%), and Oklo (tenth-largest at 4.9%). It had a 0.61% ETF expense ratio.
- iShares Global Clean Energy ETF (ICLN -1.35%): This fund tracks companies focused on clean energy. It had nearly 100 holdings in early 2025, including top-10 holding Iberdrola (IBDRY -0.63%), which gets 14% of its total power production from nuclear. The ETF had a 0.41% expense ratio.
- SPDR S&P Kensho Clean Power ETF (CNRG 0.09%): The fund aims to track companies driving innovation in the clean energy sector. The ETF had over 40 holdings in 2025, including top ten holding NextEra Energy (NEE -1.37%), which operates several nuclear power plants. It had a 0.45% expense ratio.
The bottom line on Helion Energy
Helion Energy wants to boldly do what no company has done before: harness fusion energy. The emissions-free power source could supply the world with nearly limitless power. This bold vision could have a huge payoff for the company and the global economy. Helion Energy is at least several years away from delivering on that grand ambition. The promise of fusion power makes Helion Energy an important company to watch in the coming years.
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