Tokamak Energy attracts more investment

Posted on 15 Feb 2020 and read 643 times
Tokamak Energy attracts more investmentOxfordshire-based Tokamak Energy Ltd, which is accelerating the development of commercial fusion power, has raised another £67 million to fund the next phase of its strategy to produce grid-connected fusion power by 2030.

The company is pioneering the combination of compact spherical tokamaks and high-temperature superconductors (HTS) to generate fusion energy on a commercial basis.

Spherical tokamaks are powerful, efficient and cost-effective, while HTS allow them to operate continuously.

The new funding will support Tokamak’s work towards reaching fusion temperatures of 100 million °C — over six-times hotter than the core of the sun.

It will also support the development of a next-generation tokamak which will approach fusion energy gain conditions (generating more energy than is consumed).

Last year, Tokamak Energy (www.tokamakenergy.co.uk) made important progress towards its target of fusion power generation by 2025 and a grid-connected power plant by 2030, which included significant developments in the magnet technology that is required to hold the hot fusion fuel in place.

In April, the company created the highest-ever magnetic field in a spherical tokamak.

Tokamak Energy CEO Jonathan Carling said: “The world needs to change the way energy is supplied. Fusion is safe, clean and can generate reliable energy at scale from an abundant fuel supply.

“Since 2009 we have met every development milestone on budget, and in some cases ahead of schedule. I am grateful for the on-going support of our existing investors and very pleased to welcome our new ones.

“Together, we will deliver a safe and clean energy source for future generations.”

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