Tokamak Energy secures $125M to advance fusion energy commercialization, aiming to revolutionise global energy solutions and deliver the goal of limitless fusion power.
British Patient Capital has announced an £8M investment in Tokamak Energy, contributing to a $125M funding round aimed at advancing the commercialisation of fusion energy. The funding round was co-led by East X Ventures and Lingotto Investment Management, with new investors including Furukawa Electric Company, BW Group, and Sabanci Climate Ventures.
Founded in 2009 as a spin-off from the UK Atomic Energy Authority, Tokamak Energy is leveraging its cutting-edge high temperature superconducting (HTS) technology and spherical tokamak design to revolutionise global energy solutions with the aim of delivering limitless fusion power. The £8M investment is part of British Patient Capital’s £425M Future Fund: Breakthrough programme, which supports R&D-intensive UK firms with transformative potential.
For businesses, governments, and individuals seeking sustainable energy solutions, this funding marks a step closer to affordable, clean, limitless fusion power. Fusion energy offers a compelling vision: an energy source that addresses climate change and enhances energy security without dependence on traditional fossil fuels.
Supercharging fusion power innovation with strategic support
Tokamak Energy’s ST40 tokamak has already achieved record-breaking results in high field spherical design. The new funding will fuel further experiments near Oxford, pushing boundaries in fusion pilot plant design and enabling advancements in related fields, including renewable energy, mobility, and security.
“In addition to the ongoing support of our existing shareholders, we are delighted to welcome new strategic investors to collectively accelerate our ambitious plans.” Said Warrick Matthews, CEO of Tokamak Energy. ” Tokamak Energy’s mission is to make fusion energy a reality, and we believe the only way to achieve that is through strong, global partnerships. This raise provides us with added experience and capability to drive through this critical and exciting phase of fusion development, addressing the twin challenges of climate change and energy security.”
Kerry McCarthy, UK Climate Minister, noted, “We are leading the world in fusion energy, working closely with industry to ensure we remain at the forefront of this innovative, emerging market to create good clean jobs. This multi-million-pound investment is a clear signal of Tokamak Energy’s confidence in the UK economy, bringing jobs and kickstarting economic growth as part of our mission to deliver clean power and greater energy independence to Britain.”
A UK-led charge into limitless fusion energy
Christine Hockley, Managing Director of Funds at British Patient Capital, emphasised Tokamak Energy’s pioneering role, “Tokamak Energy is a true British pioneer. The company is taking positive strides forward in a technology that has vast economic potential. But for this to come to fruition, we need to provide the funding that supports its development and expansion across the long term. That is where British Patient Capital has a critical role to play.”
Fusion energy, often referred to as the “holy grail” of energy, has profound implications for the global energy supply chain. George Mills, Director of Deeptech at British Patient Capital, highlighted its potential, “Fusion is the holy grail of energy, with far reaching implications for the global energy supply. Companies like Tokamak Energy put the UK at the forefront of this exciting market, which could provide a significant boost to our economy while also helping to solve one of our greatest environmental challenges in delivering an alternative, sustainable source of energy. We’re happy to be supporting the development of this important technology.”
A growing ecosystem for fusion leadership
Tokamak Energy has secured $335M to date, combining $275M from private investors and $60M from UK and US government support. With a team of over 260 global experts, the company continues to strengthen its position as a leader in commercial fusion and HTS technologies.
As the race to fusion energy heats up, Tokamak Energy’s latest funding marks a significant leap toward realising its mission to deliver clean, secure, and affordable energy solutions worldwide.
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