Tokamak Energy appoints new Chief Financial Officer and Non-Executive Director to strengthen its push towards commercial fusion
Oxford, UK (13th January 2021): Tokamak Energy announced today two key appointments to its Board of Directors—Chris Kelsall as Chief Financial Officer (CFO) and Erik Bonino as Non-Executive Director.
Chris Kelsall brings over 25 years’ international experience in finance and commercial roles in the clean energy, financial services, upstream oil and gas, resources and oil services sectors. As Chief Financial Officer and a board director, Chris is accountable for financial risk management and reporting, the delivery of financing solutions and external relations, to support commercialisation of Tokamak Energy’s fusion power technology.
Erik Bonino joins Tokamak Energy with over 30 years’ international experience in the energy sector in operations, major projects and technology development, and will perform a key advisory role.
The combined experience gained by these two appointments will be invaluable as Tokamak Energy progresses its fusion technology development programme to commercialisation.
Erik said of this appointment: “I am delighted to join the board of Tokamak Energy as a non-executive director and to be a part of its promise to deliver a clean energy solution for both industrial heat and electricity generation.
“With over 80% of global consumed energy still being non-electrical and where industrial heat presents the most challenging sector to both electrify and decarbonise, we need a solution that complements renewables and is scalable. Tokamak Energy is at the forefront of fusion technology and is incredibly close to a safe and commercially viable solution.”
Chris commented: “Tokamak Energy has assembled a world class team to develop a solution to one of our greatest challenges – the delivery of clean, safe and secure base load power to future generations. I am excited to be joining the company at this important stage, and look forward to working with the board, the wider team and with partners to progress this world class technology to commercialisation.”
Prior to joining Tokamak Energy, Chris Kelsall was the Chief Operating Officer at HSBC Global Banking, Europe. He has held prior equity financing roles at ABN AMRO Rothschild and Deutsche Bank in London, Sydney and Hong Kong, and has several years’ experience in executive and non-executive, board level and finance/commercial leadership roles in publicly-quoted companies in the UK, Australia and the Middle East.
Erik is currently Chair of Bute Energy, a developer of onshore wind farms and solar parks. He is also a mentor to Imperial College London’s IVMS program where he advises a number of technology start-up companies in energy and related fields. He previously held roles at Shell as UK Country Chair and Executive Vice President of Downstream Technologies. His portfolio included Shell’s Catalyst and Licensing business through which he developed Shell’s bio-fuel technology. Prior to joining Shell, Erik spent 18 years in the oil and gas industry, including Vice President of Energy and Utilities with Cap Gemini Ernst and Young. He is a Fellow of the Energy Institute.
Jonathan Carling CEO said, “I am delighted to welcome Chris and Erik to Tokamak Energy – Our mission to deliver fusion energy is progressing rapidly and these appointments bring valuable strength to the board and the business.”
– Ends –
About Tokamak Energy
Established in 2009, Tokamak Energy is a private company working to develop compact fusion power.
Fusion energy from tokamaks will be clean and safe, producing no carbon dioxide, no long-lived radioactive waste and with no risk of meltdown or proliferation. Moreover, this carbon-free energy source uses plentiful materials and the energy density of the fuel is 10 million times greater than coal or oil.
Tokamak Energy’s approach is to combine the new technology of high field-strength, high temperature superconducting magnets with the efficiency advantages of the spherical tokamak design, as pioneered at Culham and Princeton Laboratories.
The company is a spin-out from Culham Laboratory, the world-leading centre for magnetic fusion energy research. The company has raised over £118m to date from private investors including Dr. Hans-Peter Wild, L&G Capital and David Harding, CEO of Winton Capital.
Fusion energy will be a key part of a sustainable future, complementing renewables for electricity, hydrogen production, process heat for heavy industry, and desalination.
Tokamak Energy believes the world can have abundant energy without harming the planet.