Novatron Fusion Group, a Swedish company that aims to revolutionize the field of fusion energy production, announced today the successful closure of its seed round, raising
Today, stabilizing superheated plasma is a significant roadblock to commercializing fusion reactors. The NOVATRON concept is an innovative reactor solution for stable magnetic plasma confinement that aims to overcome this hurdle. The NOVATRON concept is based on the original idea by the Swedish inventor and entrepreneur,
Novatron Fusion Group aims to develop economically viable fusion energy in the 2030s. The new capital will be used to build pre-commercial prototypes. The company’s unique solution aims to increase reliability and reduce the current capital and operational cost profiles of its fusion reactors, relative to alternative solutions.
Mala Valroy, Investment Manager at Industrifonden, commented: “At Industrifonden, we believe in making science-backed, scalable investments that can shift the needle for society, and Novatron Fusion Groups technology has the potential to do just that. We are impressed by their innovative approach and confident in their ability to revolutionize energy production together with renewables. We are excited to support Novatron Fusion Group on their journey and look forward to witnessing the transformative effects of their technology.”
In business and strategic partnership to advocate global systematic change and acceptance of fusion energy
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About Novatron Fusion Group
Novatron Fusion Group AB is a Swedish company headquartered in
About Climentum Capital
Climentum Capital is a climate tech fund that invests in European early-stage companies with the potential to reshape industries to make them more low-carbon and circular. As an EU Article 9 fund, Climentum’s mission is to provide catalytic capital for these companies to pass key inflection points, achieve full scale and contribute substantially to mitigating climate change. Read more at www.climentum.com.
About Santander InnoEnergy Climate Fund
Santander InnoEnergy Climate Fund is an initiative based on a collaboration between Santander Alternative Investments and EIT InnoEnergy, whereby SAI is the portfolio manager and InnoEnergy is the technical advisor;
About KTH Holding
KTH Holding is a Swedish state-owned company investing in very early-stage companies from KTH. We invest and help researchers and students to build companies from their ideas, research results, and intellectual property rights (e.g. patents). In this way, we put KTH research and education into use for the benefit of society. Read more at kthholding.se/en.
About EIT InnoEnergy
EIT InnoEnergy operates at the centre of the energy transition and is the leading innovation engine in sustainable energy, bringing the technology and skills required to accelerate the green deal and
Recognised globally as the most active sustainable energy investor and one of the largest climate tech and renewable energy tech investors, EIT InnoEnergy backs innovations across a range of areas. These include energy storage, transport and mobility, renewables and sustainable buildings and cities – leveraging its trusted ecosystem of 1200+ partners and 29 shareholders. The 180+ portfolio companies are on track to generate
EIT InnoEnergy is the driving force behind three strategic European initiatives which include the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Centre (EGHAC) and the European Solar Initiative (ESI).
EIT InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT), an independent EU body set up in 2008 to drive innovation and entrepreneurship across
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SOURCE Novatron Fusion Group AB