Tokamak Energy develops a squeezed, spherical tokamak for magnetic confinement fusion and also sells high-temperature superconducting magnets through its TE Magnetics division. Its ST40 prototype produced a record-setting 100 million degree C plasma in 2022. The company plans to operate a pilot power plant starting by 2034. To bridge the gap to commercial fusion revenue, Tokamak Energy is expanding TE Magnetics to monetize its magnet expertise. The startup was spun out from the UK Atomic Energy Authority in 2009 and is based in the UK. Financially, it has raised $275 million to date from private investors, including a recent $125 million raise. The new funds will be used to continue reactor development and expand TE Magnetics.

Total raised

$125M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2024