Tokamak Energy, a global leader in fusion energy, has recently raised $125 million in a funding round co-led by East X Ventures and Lingotto Investment Management. Among the new investors are Furukawa Electric Company, British Patient Capital, BW Group, and Sabanci Climate Ventures. This funding represents a significant step toward advancing fusion energy and high-temperature superconducting (HTS) technologies.
A revolutionary technology for clean energy
The company, founded in 2009 as a spin-off of the UK Atomic Energy Authority, has now raised a total of $335 million, including contributions from the British and American governments. This latest capital injection will allow Tokamak Energy to expand its efforts in several key areas, including the development of TE Magnetics, a division dedicated to HTS technology. This initiative addresses growing demand in diverse sectors such as mobility, renewable energy, and security.
The company’s flagship project focuses on designing its fusion pilot plant, supported by experiments using the ST40 spherical tokamak, a cutting-edge technology capable of achieving record-breaking temperatures of 100 million degrees Celsius. This technological advancement aims to revolutionize the production of clean, affordable, and limitless energy worldwide.
Partnerships to accelerate the energy transition
Warrick Matthews, CEO of Tokamak Energy, stated: “We are thrilled to welcome new strategic investors who share our ambition to make fusion energy a reality. This funding strengthens our ability to address the challenges of climate change and energy security.”
Furukawa Electric, one of the investors, expressed optimism about this collaboration. Hideya Moridaira, President of Furukawa Electric, emphasized that this strategic partnership opens new opportunities for both entities.
Meanwhile, Sabanci Climate Ventures, represented by Managing Director Murat Oğuz Arcan, highlighted the importance of fusion energy for sustainable transition. “Tokamak Energy’s work and TE Magnetics’ expertise in superconductivity are crucial to meeting the energy needs of tomorrow,” he added.
International recognition and governmental support
This funding round also underscores Tokamak Energy’s role in international initiatives for clean energy. As a recipient of the U.S. Department of Energy’s milestone-based fusion development program, the company asserts itself as a key player in the sector. Dr. Geri Richmond, Under Secretary for Science and Innovation at the Department of Energy, praised this achievement as an essential step to strengthening U.S. energy independence.
