Parkwalk portfolio company First Light Fusion has completed a fundraising of up to £22.7 million.
First Light, a spin-out from the University of Oxford, has discovered new implosion processes that can achieve the high temperatures and compression necessary for fusion reactions and other valuable applications. The Company’s approach has the potential to dramatically shorten the timescale and cost of achieving practical and affordable fusion energy. This fundraising will allow First Light to further develop its modelling tools and experimental capability and will fund collaborations with leading research groups in the field.
The Company has also announced today that it has established a Scientific Advisory Board to provide technical input and governance for its ongoing development programme. The Board is chaired by Arun Majumdar, who is the Jay Precourt Professor at Stanford University, and consists of eminent figures in energy innovation including Nobel laureate Steven Chu, the former US Energy Secretary.
Investors in the financing round include IP Group plc, a fund managed by Invesco Asset Management Limited, clients advised or managed by Sandaire Investment Office and the University of Oxford.
Visit the First Light Fusion website here.