Tokamak Energy, a British scaleup, has raised $125 million to advance its commercialisation of fusion power, making it the most well-funded private fusion venture in Europe. The company is working on a tokamak reactor using superconducting magnets, aiming to have a fusion power plant operational by the 2030s. The funding will also support its subsidiary, TE Magnetics, which develops superconducting magnets for various industries. Tokamak's ST40 reactor reached a temperature of 100 million °C in 2022, a key milestone for self-sustaining fusion reactions.
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