EIT InnoEnergy invests in ground-breaking startup Novatron Fusion Group AB to support with development and commercialisation of fusion, while collaborating with KTH Royal Institute of Technology on feasibility of technology breakthrough.
EIT InnoEnergy announces today its investment in Swedish headquartered Novatron Fusion Group AB. The company is developing a new proprietary fusion power concept that will make fusion energy production a commercially viable source of energy.
The investment is reinforced by a partnership between KTH Royal Institute of Technology (KTH), Novatron Fusion Group and EIT InnoEnergy, with the aim of taking fusion together into a future global large-scale green energy source. The partnership will build a new test facility to validate Novatron Fusion Group’s unique approach to plasma confinement and conduct research and education in the area. The goal is to demonstrate within the coming year that stable plasma can be achieved – a fundamental prerequisite for achieving stable and continuous fusion. Long term, the vision is to have a commercial fusion design that enables net-power to the energy grid in the final stage before 2040.
“Fusion power has long been suggested as the technology breakthrough needed to support reaching with the global shift to net zero goals. However, it has also struggled to be proven technically and commercially viable. We believe our innovation is the key to unlocking the large-scale production of energy through fusion.”
Novatron Fusion Group aims to make commercial development and construction of fusion energy power plants economically viable at a fraction of the cost of current methods, providing access to large-scale clean, safe, sustainable, and stable energy production for the benefit of all, supporting with Europe’s move to reach their Green Deal targets.
“Beating climate change demands big-impact innovations, and these innovations require resources and investment to scale them. Novatron Fusion Group is one of the many examples of EIT InnoEnergy supporting in this way, accelerating progress to net zero. Fusion power is a crucial base-load solution in our zero-carbon journey. It is for that reason, I am greatly excited about the impact Novatron Fusion Group’s unique solution could have on industry by making fusion a reality.”
“We are delighted to be collaborating once again with EIT InnoEnergy. Having successfully worked together in many areas including innovation and education, our latest joint ambitions for fusion technology have the potential to develop into something truly valuable.”
Photo Credit: Patrik Lundmark
From left to right: Erik Odén, Executive Chair, Novatron Fusion Group ; Jan Jäderberg, CTO and inventor of the Novatron concept, Novatron Fusion Group ; Kenneth Johansson, CEO, EIT InnoEnergy Scandinavia ; Lisa Ericsson, Head of KTH Innovation, KTH ; Stefan Östlund, vice president for Global Relations, KTH ; Ingvar Eriksson, Investment Director, EIT InnoEnergy Scandinavia ; Linda Nyberg, Chief Communication Officer, Novatron Fusion Group ; Diego Pavia, CEO, EIT InnoEnergy ; Peter Roos, CEO, Novatron Fusion Group