"Our mission is to make fusion energy a reality, and we believe the only way to achieve that is through strong, global partnerships," said Tokamak Energy CEO Warrick Matthews. He emphasized that the recent funding comes at a "critical" and "exciting" time for fusion development.
Tokamak Energy aims to have its first fusion power plant operational in the 2030s, using recent funding to bolster both its commercialization plans and its subsidiary TE Magnetics, which develops superconducting magnets.
The company has now raised a total of $335 million, with $125 million in the latest funding round, securing its position as Europe's most well-funded private fusion energy venture.
Tokamak Energy is hastily developing, testing, and validating its approach with its pilot reactor, the ST40, which is a spherical tokamak design aimed at achieving efficient plasma confinement.
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