Tokamak Energy

Overview
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UK-based Tokamak Energy aims to develop the technology to commercially generate electricity using fusion energy by 2030. Tokamak Energy focuses on the use of spherical tokamak fusion energy generators in conjunction with high-temperature superconductors (HTS) to generate fusion energy. In 2018, the company’s compact fusion device, ST40, achieved a temperature of 15 million °C—versus the 100 million °C needed for nuclear fusion.

In October 2022, Tokamak announced the plans for its advanced prototype, STX, which will be the world’s first high-field spherical tokamak using high-temperature superconducting magnets, at scale. In February 2023, Tokamak reported plans to construct its STX prototype at the United Kingdom Atomic Energy Authority’s (UKAEA) Culham Campus, UK. The prototype is set to be completed by 2026 and will inform the design of the company’s ST-E1 fusion pilot plant. The facility aims to demonstrate 200 MW of net electrical power.

In March 2024, Tokamak reported plans to develop new laser measurement technology to help control extreme conditions inside fusion power plants.

Key customers and partnerships

In October 2022, Tokamak Energy signed a five-year framework agreement with the UK Atomic Energy Authority (UKAEA) to collaborate on the development of spherical tokamaks for commercial electricity generation through fusion energy. In January 2023, Tokamak signed an agreement with Furukawa Electric Group to supply specialist high-temperature superconducting (HTS) tape for the ST80-HTS. In May 2023, the company signed an MoU with General Atomics to collaborate on High-Temperature Superconducting (HTS) technology for fusion energy and other industry applications. In July 2023, Tokamak partnered with Sumitomo Corporation to work together on the development, implementation and scaling-up of commercial fusion energy in Japan and worldwide. In September 2023, the company partnered with Oxford Sigma to contribute to the first American Society of Mechanical Engineers (ASME) Boiler and Pressure Vessel Code (BPVC) for fusion energy power plant construction standards.

Funding and financials

In August 2023, the company was awarded an undisclosed grant from the US Department of Energy’s (DOE) Innovation Network for Fusion Energy (INFUSE) program. In May 2023, Tokamak Energy was one of eight companies to receive a total of USD 46 million from the DOE’s Milestone-based Fusion Development Program to advance designs and research and development for fusion power plants. In January 2023, the company was awarded an undisclosed grant from the DOE to test specialty steel materials in extreme fusion conditions at the Oak Ridge National Laboratory (ORNL) to inform the design of future power plants.

In January 2020 the company completed a GBP 67 million (USD 87 million) round from the Swiss businessman Hans-Peter Wild. The funds went toward research and development to improve Tokamak Energy’s technology to achieve the 100 million °C benchmark.

HQ location:
173 Brook Drive Milton Park Oxford GBR
Founded year:
2009
Employees:
51-100
IPO status:
Private
Total funding:
USD 162.0 mn
Last Funding:
USD 87.1 mn (Series B; Jan 2020)
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EDGE Insights

2023 Climate Tech hotspots: battery, carbon accounting, biojet fuel, and fusion
Brighter than the Sun: A Reality Check for Fusion Tech

Recent Updates

Funding
May 31, 2023
US Department of Energy to provide USD 46 million to fusion companies
Alternative Energy
Partnerships
May 30, 2023
Tokamak Energy partners with General Atomics
Alternative Energy
Management news
Feb 27, 2023
Warrick Matthews appointed as the managing director and CCO of Tokamak Energy
Alternative Energy
Partnerships
Jan 13, 2023
Furukawa Electric Group to supply HTS tape to Tokamak Energy
Alternative Energy
Product updates
Oct 26, 2022
Tokamak Energy introduces its ST80-HTS advanced prototype
Alternative Energy
Partnerships
Oct 10, 2022
Tokamak and UKAEA partner to develop spherical tokamak technology
Alternative Energy

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