Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies [Yahoo! Finance]
FURUKAWA ELEC CO LTD ADR (FUWAY)
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Source: Yahoo! Finance
grow its transformative high temperature superconducting (HTS) technology solution, TE Magnetics. The round was co-led by East X Ventures and Lingotto Investment Management with participation from new investors including Furukawa Electric Company, British Patient Capital, global maritime company BW Group and U.S.-based Sabanci Climate Ventures. The investment from new strategic partners alongside existing shareholders is recognition of the world-class talent and expertise at Tokamak Energy, the only private fusion company with more than 10 years' experience designing, building and operating tokamaks. It brings the total raised since forming as a spin-out from UK Atomic Energy Authority in 2009 to $335m , comprising $275m from private investors and $60m funded from the UK and U.S. governments. The investment round will support the rapid growth of TE Magnetics to address demand from the fusion energy market and open new fields of performance in other industries including science
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