Share this article 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/ -- 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.