Parkwalk, the leading EIS investor in UK University spin-out companies, is pleased to announce the exit of the majority of its holding in First Light Fusion via a successful sale to Oxford Sciences Innovation.

Parkwalk was one of the initial investors in the company when it was formed in June 2011 and has invested in subsequent funding rounds. The sale will give Parkwalk’s EIS investors a significant, double digit multiple return on their investment.

First Light Fusion, an Oxford University spin-out, is researching energy generation by inertial confinement fusion. This is a well-established research field being pursued in many laboratories worldwide, perhaps most notably in the US at the National Ignition Facility. First Light Fusion is exploring a number of alternative research directions that harness the same fundamental physics, with the prime focus being power generation. First Light Fusion’s work to-date has included theoretical analysis, detailed numerical simulation and experimental validation. This has allowed description of the accessible parameter space and has led to a clear vision of the pathway to fusion.

Alastair Kilgour, Parkwalk Chief Investment Officer, commented “Parkwalk has been delighted to have been part of the early development in First Light Fusionwhose technology is proving to be a game changer in nuclear fusion, and where the societal impact will be substantial if it proves successful. The team that has been built at the company is world class. This has been a model EIS investment where early stage investors have backed leading UK academics to develop a high risk technology with global impact. They have exited the company, with a return commensurate with the risk taken, when the quantum of investment required to take the company to the next level requires Investors with much larger resources. These EIS investors can now recycle these returns into new projects if they wish.”

For more information, please contact:
Moray Wright, Chief Executive Officer
+44 (0) 20 7759 2285

First Light Fusion Ltd
Gianluca Pisanello, Chief Operating Officer
+44 (0) 1865 807 670

Powerscourt Group (Public Relations Advisor)
Peter Ogden/Ben Griffiths
+44 (0) 20 7250 1446