Lord Vallance, Minister for Science, Innovation, Research and Nuclear, launched the UK’s new fusion strategy during a visit to Tokamak Energy. The UK government plans to invest more than £2.5 billion over five years in fusion energy research and commercialization to support energy security and economic growth. During the visit, Lord Vallance toured Tokamak Energy’s ST40 spherical tokamak, high temperature superconducting (HTS) magnet technology, and the Demo4 fusion magnet system.
Warrick Matthews, Tokamak Energy CEO, said: “We welcome the government’s commitment to establishing the UK as a global leader in fusion – the 21st century’s most important technology. Tokamak Energy brings extensive expertise to the race, including power‑plant‑relevant results on our groundbreaking spherical tokamak and our world‑first high‑temperature superconducting (HTS) fusion magnet system.
“Through our TE Magnetics division, we are a market leader in the breakthrough HTS technology the STEP fusion program will rely on to control the plasma. Our focus is realizing its full potential for fusion and other sectors including science, defense, transport and grid technologies – tomorrow’s technology creating growth, jobs, exports and value today.”
Source: Tokamak Energy
About Tokamak Energy
Tokamak Energy, founded in 2009 as a spin-off from the UK Atomic Energy Authority, is a private company headquartered in Milton Park, Oxfordshire, UK. Specializing in the development of compact spherical tokamaks and high-temperature superconducting (HTS) magnets, the company aims to deliver commercially viable fusion energy solutions. Serving industries focused on clean energy and advanced scientific research, Tokamak Energy has achieved significant milestones, including operating the ST40 tokamak, that reached plasma temperatures exceeding 100 million degrees Celsius in 2022. In addition to its fusion energy endeavors, the company collaborates on projects utilizing HTS magnet technology for various applications, such as silent marine propulsion systems. Tokamak Energy employs over 260 individuals. The company has raised substantial funding, including $250 million by 2022, to support its R&D efforts.