Insider Brief
- Novatron Fusion Group (NFG) secured €10 million in an oversubscribed Series A1 funding round, led by strategic investor St1, which also joins as a long-term industrial partner and board member.
- The partnership with St1 aligns two Nordic companies to advance fusion energy, aiming to reduce fossil fuel dependence while addressing future energy demands.
- NFG continues experiments with its first prototype, N1, while preparing the next phase of its roadmap, leveraging strategic partnerships to accelerate commercial fusion energy development.
- Image: Erik Odén, founder and chairman of Novatron Fusion Group, Henrikki Talviti, CEO of St1, and Peter Roos, CEO of Novatron Fusion Group in front of NOVATRON 1
PRESS RELEASE — Novatron Fusion Group (NFG) is pleased to announce the successful closing of its Series A1 funding round. This achievement is further enhanced by a new strategic long-term industrial partnership with lead investor and new board member St1, marking a new chapter in the journey toward commercial fusion energy.
The strategic long-term industrial partnership is a demonstration of how two Nordic companies combine their respective strengths in science and industry to reach an ambitious shared goal – to reduce society’s dependence on fossil fuels while meeting the future growing energy demand.
“We are thrilled to welcome Henrikki Talvitie, CEO of St1, to our board of directors. As our strategic long-term partner and the largest institutional shareholder, Mr. Talvitie brings invaluable expertise that will help us on our journey toward fossil-free energy independence. Together, we will work to secure a successful execution of our elaborate roadmap toward our vision.” — Erik Odén, founder and chairman of Novatron Fusion Group.
The partnership was formed shortly after an announcement that the first prototype of NFG’s unique NOVATRON fusion solution, a groundbreaking technology with disruptive potential, was assembled and the system integration tested. Although NFG will continue running experiments with the first prototype, N1, it is in parallel preparing the next phase of its roadmap where long-term partnerships will be key.
“To reach our vision of being the leading producer and seller of CO2-aware energy, we will continue to invest in our value chains and ongoing projects to remain at the forefront of the energy transition. At the same time, St1 also needs to invest in technologies that are not yet commercially available, as nearly 50 percent of the carbon emission cuts required by 2050 will rely on innovations currently in the demonstration or prototype phases. We believe that NFG has a game changing formula and as an owner with a long-term mindset, we are excited over this opportunity to help accelerate the work towards limitless fossil-free energy.” — Henrikki Talvitie, CEO of St1
By jointly investing in the disruptive NOVATRON technology, the goal with the industrial partnership is not only to support energy resilience in the Nordics, but also to make a positive impact on a global scale by securing a leading position in providing fossil-free, safe, affordable, and abundant energy for all.
In addition to lead investor St1, the oversubscribed funding round of €10 million in equity had participation from both new investors, including TomEnterprise, Unit E Limited and Axon Partners Group, and existing investors: Climentum Capital, Santander InnoEnergy Fund, Granitor and Industrifonden. As a collective, they build a solid base of competence and network propelling Novatron Fusion Group into a new exciting phase.
