British Patient Capital has committed £8 million to Tokamak Energy as part of a $125 million (£98.6m) financing round aimed at accelerating the development of fusion energy.
The round, co-led by East X Ventures and Lingotto Investment Management, attracted participation from a range of new investors including global companies Furukawa Electric, BW Group and Sabanci Climate Ventures.
This new funding will help Tokamak Energy scale its high-temperature superconducting (HTS) technology, TE Magnetics, and drive forward its fusion energy ambitions.
The company, which was originally spun out from the UK Atomic Energy Authority in 2009, has now raised a total of $335 million (£264m), including both private sector and government funding from the UK and US.
The investment will support Tokamak Energy’s work on its fusion pilot plant and ground-breaking fusion technologies, which are being developed and tested at the company’s facility near Oxford.
