nT-Tao, a Tel Aviv, Israel-based compact fusion energy company, received an investment from Mitsui Sumitomo Insurance Venture Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to develop and test its compact fusion reactor, expand its team of physicists, and pursue other regional and global partnerships.
Co-founded by Oded Gour-Lavie, Doron Weinfeld, and Boaz Weinfeld, nT-Tao is providing a compact and scalable nuclear fusion solution aimed at reducing reliance on fossil fuels and overcoming the limitations of existing renewable energy sources. Leveraging both tokamak and stellarator technologies (two competing approaches used in nuclear fusion research to confine plasma within magnetic fields to facilitate the fusion reactions), the company has developed its compact fusion reactor and is currently in the experimental phase of C1, the first of its Series C prototypes.
Its Compact Fusion Reactor design – the size of a shipping container – will be scalable and integrated into a multitude of settings and power requirements. Once commercialized, its design and independent solution will make it adaptable for everything from industrial facilities to small towns and off-grid locations.
nT-Tao announced its Series A round in February of this year, closing $22M in funding led by Delek US – a Fortune 500 downstream energy company – Next Gear Ventures and Mayer Cars & Trucks Group, with additional participation from Honda, the Grantham Foundation, the lead investor in the company’s seed round, J-IMPACT, East Innovate (the VC arm of East Alpha) and OurCrowd.
FinSMEs
01/09/2023