New funds raised to accelerate fusion energy
Posted on 18 Jan 2019 and read 1416 times
Tokamak Energy closed its latest funding round last month, taking the total amount invested in the business to over £50 million.
The company is aiming to accelerate the commercialisation of fusion energy by developing compact modular power plants that can be deployed rapidly.
Fusion generates vast amounts of energy from tiny quantities of fuel, with no greenhouse gases and no long-lived
The latest round of fund-raising has seen existing shareholders Legal & General and David Harding of Winton Capital make further investments.
Jonathan Carling, CEO of Tokamak Energy (www.tokamakenergy.co.uk
), said: “Following Legal & General and Winton Capital’s initial investment in Tokamak Energy in 2016, their participation in our latest fund-raising round demonstrates their continued confidence in our progress and plans.
"We now have a solid platform to continue our journey towards delivering a safe and clean energy source for future generations.”
Nigel Wilson, CEO of Legal & General, said: “It is part of our mission to make investments that have a positive social and economic impact.
Through our investment in Tokamak Energy, we are investing in a UK-based company developing revolutionary technology with global potential.
"Its bold and ambitious plans have ground-breaking implications for our environment.”