Tokamak Energy Announces Major Expansion With Over 160 New Jobs As A Pioneer In Commercial Fusion Energy
MP Rt Hon Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy (BEIS) today visited the company headquarters to recognize this major expansion and see firsthand the progress already made.
This year, the company, through its ST-40 spherical tokamak, plans to be the first company in the world to achieve a temperature of 100 million degrees Celsius in stable plasma, an essential cornerstone of economical fusion energy. . The UK government has already supported UK efforts to complete the merger as part of the ongoing STEP program and has provided Tokamak Energy with £ 10million as part of its Advanced Modular Reactor (AMR) program.
This recruitment drive comes as the company continues to pioneer commercial fusion energy, which is clean, economical and globally deployable. Tokamak Energy is developing two crucial technologies for commercial fusion energy: high temperature superconducting magnets (HTS) and compact spherical tokamaks.
Tokamak Energy is developing significant additional space at its Milton Park headquarters as it ramps up its technology and business plans. This will allow other significant achievements with the ST-40 in the future.
Chris Kelsall, CEO of Tokamak Energy said, “We have the most advanced spherical tokamak in the world and we are a global leader in HTS magnets. We already combine leading scientific, engineering, industrial and commercial capabilities under one roof. This expansion underpins our vision to pioneer commercial fusion energy, which is clean, economical and globally deployable. We will continue to attract top talent here in the UK and around the world as we develop the fusion power plant of the future, while bringing the technology we have already developed to market.
Business and Energy Secretary Kwasi Kwarteng said, “We need pioneering companies like Tokamak Energy to harness the power of fusion and demonstrate its remarkable potential as a potentially unlimited, clean and secure source of energy for the future.
“It was fantastic to visit Tokamak Energy today to see firsthand how they are redoubling their efforts to commercialize the merger, expand their site and create 160 new highly skilled jobs – a massive boost to our plans to support the merging a rapidly growing supply chain across the UK and solidifying our position as a global science superpower. “
The UK is a global hub for the development of fusion, a new unlimited source of clean, carbon-free, safe and secure energy that will be essential for deep decarbonization well before 2050.
The plans announced today by Tokamak Energy are also expected to benefit the rapidly growing UK fusion supply chain with more than 200 companies already supplying materials and technology.
Notes to Editors
About Tokamak Energy
Tokamak Energy is one of the world’s leading fusion energy trading companies based near Oxford, UK. The company is developing the fusion power plant of tomorrow while commercializing today’s technological applications.
Tokamak Energy continues the merger through the combined development of spherical tokamaks and high temperature superconducting magnets (HTS).
In the ST-40 fusion prototype, Tokamak Energy developed the world’s most advanced compact spherical tokamak – a key catalyst for commercial fusion. Plans are underway for the ST-40 to operate at 100m plasma degree in 2021, which will be a key milestone for commercial fusion and the first privately funded fusion module to reach this benchmark globally.
Tokamak Energy received five grants from the US Department of Energy in 2020, forging partnerships with leading expertise in the US national laboratory system. The company has partnered with Oak Ridge National Laboratory and Princeton Plasma Physics Laboratory to develop ST-40. It has also received a £ 10million grant from the UK government as part of an investment under the Advanced Modular Reactor (AMR) program.
Tokamak Energy is working with CERN, the European Organization for Nuclear Research, on high temperature superconducting magnets (HTS), to develop a proprietary technology that will accommodate the large magnets needed for fusion modules. HTS magnets also have applications for particle accelerators, aerospace and several other industrial sectors.
The company, founded in 2009 as a spin-off of the Culham Center for Fusion Energy, currently employs a growing team of over 160 people with talent from the UK and experts from around the world. It combines leading scientific, engineering, industrial and commercial capabilities. The company has more than 50 families of patent applications and has raised over £ 100million in private investment.
Once achieved, fusion energy will be clean, economical and globally deployable – a key factor in achieving international climate policy goals.
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SOURCE Tokamak Energy