This week’s Global Investment Summit marks an important moment for Oxfordshire-based Tokamak Energy as it will be one of a small number of leading UK companies chosen to showcase their innovation and technology at an event for global investors, highlights the country’s openness to attracting new inward investment.
Tokamak Energy is a leading global commercial fusion energy company based at Milton Park, Oxfordshire, pursuing fusion through the combined development of spherical tokamaks along with high temperature superconducting (HTS) magnets.
The Global Investment Summit is showcasing British innovation, demonstrating the country’s commitment to green industries of the future ahead of COP26, and promoting UK as the best destination for foreign investment.
Chris Kelsall, CEO of Tokamak Energy, is looking forward to the summit.
In a blogpost he said: “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.
[*A tokamak is a device which uses a powerful magnetic field to confine plasma in the shape of a torus. The tokamak is one of several types of magnetic confinement devices being developed to produce controlled thermonuclear fusion power. As of 2021, it is the leading candidate for a practical fusion reactor]
“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), [the world’s largest and most advanced tokamak*], 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.”