NEWS & MEDIA

First Light Fusion, an Oxford-based global leader in researching energy generation via inertial fusion, has raised $25 million from both existing and new investors. The funding round was led by Oxford Sciences Innovation (OSI) and includes IP Group plc and Hostplus.

Fusion energy could be the most cost-effective solution for clean baseload power, four times cheaper than nuclear, complementing the need to continue rolling out renewable energy technologies as fast as possible to achieve a zero carbon global energy system by 2050.

First Light Fusion, the fusion energy company spun out from the University of Oxford, has strengthened its Board with the appointment of Andreas Lusch as a Non-Executive Director.

The UK Atomic Energy Authority (UKAEA), one of the world’s leading centres for fusion energy research, has completed a project designed to establish some of the basic operating parameters of a fusion energy reactor.

First Light Fusion welcomes the Government’s announcement today that it will invest an initial £220 million over four years into STEP to help develop a commercially viable fusion power plant by 2040. First Light Fusion believes this is the kind of foresight and intent that is needed to ensure the world meets its net zero targets.

First Light Fusion, an Oxford-based global leader in researching energy generation via inertial fusion, and Mott MacDonald, a global engineering, management and development consultancy, are working together to produce a design vision of a “first of a kind” (FOAK) commercial fusion reactor.

Achieving a zero carbon global energy system by 2050 is achievable but will require significant investment in both existing renewables and new clean energy technologies. That’s the conclusion of a new analysis into energy supply and demand commissioned by fusion energy pioneer First Light Fusion.