Helion Energy is building several fusion systems, based on Staged Magnetic Compression of Field Reverse Configurations (FRC). The FRC is a high-Beta compact toroid that may lead to fusion power plants with linear topologies, high power density, and direct energy recovery that minimize the reactor engineering and environmental concerns of fusion energy. Presented is an overview of Helion’s approach and an update on the ARPA-E research program, Staged Magnetic Compression of FRC Targets to Fusion Conditions. In this approach, a high-poloidal flux FRC target is formed and translated into a cylindrical, high-field compression region. The FRC target is then compressed to multi-keV temperatures and relevant fusion densities. An overview to the approach and historical background will be provided along with key recent technical progress. An overview of FRC macro-stability criteria and limitations and transport scaling will be detailed. In addition, power-plant analyses for a range of magnetically compressed FRC approaches will be summarized, including key scaling relationships and primary cost drivers.