Investors will see fusion’s potential at this week’s Global Investment Summit
This week’s Global Investment Summit marks an important moment for Tokamak Energy – and arises at a time when global events underscore that energy security is national security.
We are honoured to be one of a small number of leading UK companies chosen to showcase their innovation and technology at an event for global investors, that highlights the country’s openness to attracting new inward investment.
With plans underway for Tokamak Energy to commercialise fusion in the 2030s, we look forward to meeting global investors as well as hearing how the UK Government will continue to enhance the investment environment for fusion. Just a few weeks ago it announced its vision for the UK’s rollout of commercial fusion energy.
Our message to investors, as relevant now, as ever, is simple:
We are building the fusion power plants of tomorrow while commercialising the technology applications of today.
For us, the Global Investment Summit provides a significant opportunity to demonstrate our unique approach to pursuing fusion through the development of two world class technologies: compact spherical tokamaks, in combination with high temperature superconducting (HTS) magnets.
Indeed, our HTS magnets are some of the most powerful on the planet and have a range of potential applications for other industries, including aerospace and healthcare, to name a few.
For this reason, international investors have consistently backed Tokamak Energy with over £100m of private investment, making us one of only four fusion companies globally – and the only one in the UK – to have received such a high level of funding.
In addition, we received five US Department of Energy grants in 2020, creating partnerships with leading expertise in the US National Laboratory System. We are partnering with Oak Ridge National Laboratory and Princeton Plasma Physics Laboratory to develop the world’s leading spherical tokamak, the ST-40. Tokamak Energy has also received a £10m grant from the UK Government as part of its investment under the Advanced Modular Reactor (AMR) programme.
In the ST-40 fusion prototype, Tokamak Energy has developed the most advanced compact spherical tokamak in the world – a key enabler of commercial fusion. Tests are underway for the ST-40 to operate at close to 100m degree plasma temperature, which will be a key milestone for commercial fusion and the first privately funded fusion device to reach this landmark globally.
The Global Investment Summit is an important milestone for UK fusion too.
With a strong heritage in fusion, advancing programmes such as JET (Joint European Torus), and a burgeoning UK fusion supply chain, the UK has a unique opportunity to be the global leader in a Net Zero world with fusion energy at its heart. This will, of course, be a global focus with the COP26 climate talks taking place in Glasgow early in November.
Fusion energy is low cost, secure, globally deployable and clean. It is highly compatible with low carbon energy systems comprised of renewables as it will provide reliable, plentiful baseload electricity and heat for industrial applications.
With so many countries looking to decarbonise and ensure energy security, it is vitally important that together, we actively incubate collaboration opportunities and retain our unwavering focus on fusion.
If you would like to know more about our company and its pioneering work, please feel free to get in touch.
Blog post by Chris Kelsall, CEO of Tokamak Energy.