Tokamak Energy announced it had raised $125 million to accelerate ambitious plans to commercialize fusion energy and grow its transformative high-temperature superconducting (HTS) technology solution, TE Magnetics. The funding round was co-led by East X Ventures and Lingotto Investment Management with participation from new investors including Furukawa Electric Company, British Patient Capital, global maritime company BW Group and Sabanci Climate Ventures. The funding from new strategic partners alongside existing shareholders is a recognition of the world-class talent and expertise at Tokamak Energy, the only private fusion company with more than 10 years of experience designing, building, and operating tokamaks. And it brings the total raised since forming as a spin-out from UK Atomic Energy Authority in 2009 to $335 million, comprising $275 million from private investors and $60 million funded from the UK and U.S. governments. This funding round will support the rapid growth of TE Magnetics to address demand from the fusion energy market and open new fields of performance in other industries including science, mobility, renewable energy and security. And it will also advance the company’s leading fusion pilot plant design program, as well as develop, test and validate new fusion technologies using its record-breaking high field spherical tokamak ST40 for ground-breaking experiments near Oxford.

Full story : Tokamak Energy: $125 Million Closed To Commercialize Transformative Fusion And Magnet Tech.