Novatron Fusion Group Receives €5 Million Investment

Sweden-based Novatron Fusion Group has emerged as a startup aiming to revolutionise fusion energy production. The company announced that it has successfully completed a seed round of 5 million euros. The investment round was led by Climentum Capital. It was supported by new investments from organisations such as Industrifonden, Santander InnoEnergy Climate Fund, KTH Holding and EIT InnoEnergy.

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Novatron Fusion Group

According to Novatron Fusion Group, fusion energy has the potential to provide an unlimited, environmentally friendly, reliable and economical source of energy for everyone. The technology is believed to be an important solution for global challenges such as growing energy needs and accelerating climate change. However, the biggest obstacle to the commercialisation of fusion reactors is the stable containment of superheated plasma. This is where Novatron comes in. The Novatron concept aims at an innovative reactor solution for stable magnetic plasma confinement. This approach is an important step towards enabling the commercial utilisation of fusion technology. The NOVATRON concept is based on the original idea of Swedish inventor and entrepreneur Jan Jäderberg. The Novatron Laboratory is located in the former Alfvén Laboratory of the KTH Royal Institute of Technology, where the world's leading physicists, engineers and scientists come together to develop the concept.

Novatron Fusion Group, founded in 2019, aims to develop economically viable fusion energy in the 2030s. The newly provided capital will be used for the construction of pre-commercial prototypes. The company's unique solution aims to increase the reliability of fusion reactors compared to alternative approaches and reduce operating costs with available capital. The company announced its commercial and strategic partners in December 2022. KTH Royal Institute of Technology, a plasma physics laboratory in Sweden, offers extensive know-how, a well-equipped laboratory, access for academic research and an international network. EIT InnoEnergy will contribute with a well-established network of industry, academia and public organisations across Europe. Novatron Fusion Group also stands out with its memberships in the UK Fusion Cluster and the US Fusion Industry Association (FIA).