Tokamak Energy押注紧凑型高温超导磁体聚变；Demo4首次达到发电厂级磁场

做的是什么生意

Tokamak Energy builds spherical tokamak fusion machines and, via its TE Magnetics division, high-temperature superconducting (HTS) magnet systems for fusion and other high-field applications.

启动资金：£100M ($125M) raise announced 2024-11-20, co-led by East X Ventures and Lingotto Investment Management, joined by Furukawa Electric, British Patient Capital, BW Group and Sabanci Climate Ventures.

起因

Tokamak Energy spun out of the UK Atomic Energy Authority in 2009 near Oxford. Its bet was that high-temperature superconducting magnets would let a compact, privately built spherical tokamak confine plasma at fusion power-plant fields, avoiding the scale and cost of conventional fusion designs.

经过

In November 2024 it raised £100M ($125M) co-led by East X Ventures and Lingotto Investment Management, with new investors including Furukawa Electric, British Patient Capital, BW Group and Sabanci Climate Ventures, and launched TE Magnetics to commercialize its magnet technology. In November 2025 its Demo4 rig - a complete tokamak-configuration set of HTS magnets with 14 toroidal and 2 poloidal field coils - produced 11.8 Tesla at -243 degrees Celsius and drove seven million ampere-turns through its central column. Coverage in Interesting Engineering and Energy Innovation Review called it a world first: fusion power-plant fields replicated in a full HTS magnet system, not just a single magnet.

可借鉴之处

押注一个在系统整体运转之前就能销售的组件：在验证聚变磁体的同时将其商业化应用于其他行业，为长达数十年的使命提供了资金支持。