OpenStar Technologies is pursuing commercial-scale fusion energy by using a levitated dipole approach that mimics planetary magnetospheres to confine ultra-hot plasma. Its first prototype device, "Junior," achieved the critical First Plasma milestone within two years, demonstrating rapid progress relative to traditional, multi-billion-dollar fusion projects. The firm plans to build a next-generation machine called "Tahi" that will be housed in a new, purpose-built research facility. Management believes this method offers a faster, cheaper path to producing net-positive fusion energy, potentially positioning New Zealand at the forefront of the global fusion race. The recent $35 million capital commitment will fund construction of the facility and expand national fusion research infrastructure. While revenue has not yet been disclosed, the company is focused on R&D milestones that underpin long-term commercial viability. CEO Ratu Mataira emphasizes that the project could anchor a broader domestic clean-energy ecosystem and create highly skilled jobs.

Total raised

$41M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2026