???Investing in a Sustainable Future! ? As we Sabanc? Climate Ventures once again show our commitment to energy transition with our investment in Tokamak Energy and TE Magnetics for a sustainable energy future.??? ? Commercialization of fusion energy and development of high-temperature superconducting technologies are among the critical steps in achieving clean energy goals. Tokamak Energy and TE Magnetics' innovative solutions can meet not only today's but also tomorrow's energy needs. This strategic investment indicates our determination to support projects that have the potential to transform energy technologies. As Sabanc? Climate Ventures, we accelerate startups' global partnerships, create new revenue opportunities, and support their access to European markets. ?
We’re excited to announce we’ve raised $125 million to supercharge growth and innovation in #fusionenergy and our transformative high temperature #superconducting (HTS) #magnet technology. Fusion energy is coming, and this investment from new strategic partners alongside existing shareholders will enable us to advance our #fusion pilot plant design programme and to develop, test and validate new fusion technologies using our record-breaking spherical tokamak, ST40. It will also support the rapid growth of TE Magnetics, which is leading the development of HTS magnet technology for fusion and other exciting new applications, including scientific research, #medicine, #renewableenergy, and propulsion on land and in water, air and space. Our CEO, Warrick Matthews, said: “In addition to the ongoing support of our existing shareholders, we are delighted to welcome new strategic investors to collectively accelerate our ambitious plans. Tokamak Energy’s mission is to make fusion energy a reality, and we believe the only way to achieve that is through strong, global partnerships.” Kerry McCarthy, UK Climate Minister, Department for Energy Security and Net Zero, said: “We are leading the world in fusion energy, working closely with industry to ensure we remain at the forefront of this innovative, emerging market to create good clean jobs. This multi-million-pound investment is a clear signal of Tokamak Energy’s confidence in the UK economy, bringing jobs and kickstarting economic growth as part of our mission to deliver clean power and greater energy independence to Britain.” Dr. Geri Richmond, Under Secretary for Science and Innovation, U.S. Department of Energy (DOE), said: “This accomplishment highlights Tokamak Energy’s commitment to advancing fusion energy—a critical step towards realizing a future of clean, sustainable power. As an awardee of the Department of Energy’s Milestone-Based Fusion Development Program, Tokamak Energy is helping to lead the way in fusion innovation, positioning the United States and our global partners at the forefront of this transformative energy technology. The DOE is proud to support Tokamak Energy in its journey to achieve commercial fusion energy, which is essential to securing our clean energy future and strengthening our energy independence." Read our full press release here: ?? https://lnkd.in/esQ4cie8 East X Ventures, Lingotto, FURUKAWA ELECTRIC GROUP, British Patient Capital, BW Group, Sabanc? Climate Ventures. ? #FusionForAll