Apr 9, 2025
The UK government allocates financial support for the advancement of fusion technology.
The UK government has declared an investment of GBP20 million (USD25.5 million) to initiate Starmaker One – a British private fusion investment fund that aims to aid fusion enterprises and start-ups in expanding and commercializing at a larger scale.
Starmaker One operates as a limited partnership with the government acting as a cornerstone investor. This fund has the capacity to gather between GBP100 million and GBP150 million in total (which includes the GBP20 million from the Department for Energy Security and Net Zero) for investment in fusion-related technologies. East X Ventures, the venture capital division of East X, a London-based quantitative systematic research and investment firm active in global commodity markets, will serve as the fund manager.
According to the government, investment in Starmaker One marks the first early-stage fusion energy venture capital fund outside the USA and the inaugural one to collaborate with the government as an investor.
The initial investment, drawn from the government's existing Research and Development budget for 2024/2025, is anticipated to stimulate additional private sector investment as the fusion industry evolves. This action follows a government commitment made in January to a record level of GBP410 million for UK fusion research and international collaboration.
"UK companies have often pointed out that the lack of access to capital is a significant hurdle in scaling and commercializing their enterprises," stated the government. "A financial boost from the government will instill confidence in the private sector to invest in fusion, thus unlocking its immense potential as a limitless energy source and ensuring the UK remains competitive in the global fusion competition."
The government indicated that this funding increase will assist small fusion firms in providing essential training for their workforce in areas such as physics, engineering, and chemistry. It will also enable companies to innovate technologies and seize the prospects provided by fusion energy in sectors like magnetics, industrial AI, robotics, healthcare, transportation, and energy storage.
"Fusion holds the promise of energy security and the attraction of top-tier technologies to our nation while cultivating the next generation of British scientists and engineers," remarked Energy Secretary Ed Miliband. "We are supporting both nuclear and fusion power, and today marks a significant advancement in developing this thrilling industry."
The United Kingdom Atomic Energy Authority, responsible for conducting fusion energy research on behalf of the UK government, welcomed the government's investment in Starmaker One.
"UKAEA is pleased to see the establishment of the new fusion fund, Starmaker One, which is supported by the UK government and managed by East X Ventures," stated Tim Bestwick, UKAEA Chief Technology Officer and Deputy CEO. "The fusion sector serves as a robust catalyst for innovation, and we are just beginning to glimpse the breadth of opportunities it presents. The Starmaker One fund will be instrumental in evolving this innovation into dynamic new enterprises."
Starmaker One operates as a limited partnership with the government acting as a cornerstone investor. This fund has the capacity to gather between GBP100 million and GBP150 million in total (which includes the GBP20 million from the Department for Energy Security and Net Zero) for investment in fusion-related technologies. East X Ventures, the venture capital division of East X, a London-based quantitative systematic research and investment firm active in global commodity markets, will serve as the fund manager.
According to the government, investment in Starmaker One marks the first early-stage fusion energy venture capital fund outside the USA and the inaugural one to collaborate with the government as an investor.
The initial investment, drawn from the government's existing Research and Development budget for 2024/2025, is anticipated to stimulate additional private sector investment as the fusion industry evolves. This action follows a government commitment made in January to a record level of GBP410 million for UK fusion research and international collaboration.
"UK companies have often pointed out that the lack of access to capital is a significant hurdle in scaling and commercializing their enterprises," stated the government. "A financial boost from the government will instill confidence in the private sector to invest in fusion, thus unlocking its immense potential as a limitless energy source and ensuring the UK remains competitive in the global fusion competition."
The government indicated that this funding increase will assist small fusion firms in providing essential training for their workforce in areas such as physics, engineering, and chemistry. It will also enable companies to innovate technologies and seize the prospects provided by fusion energy in sectors like magnetics, industrial AI, robotics, healthcare, transportation, and energy storage.
"Fusion holds the promise of energy security and the attraction of top-tier technologies to our nation while cultivating the next generation of British scientists and engineers," remarked Energy Secretary Ed Miliband. "We are supporting both nuclear and fusion power, and today marks a significant advancement in developing this thrilling industry."
The United Kingdom Atomic Energy Authority, responsible for conducting fusion energy research on behalf of the UK government, welcomed the government's investment in Starmaker One.
"UKAEA is pleased to see the establishment of the new fusion fund, Starmaker One, which is supported by the UK government and managed by East X Ventures," stated Tim Bestwick, UKAEA Chief Technology Officer and Deputy CEO. "The fusion sector serves as a robust catalyst for innovation, and we are just beginning to glimpse the breadth of opportunities it presents. The Starmaker One fund will be instrumental in evolving this innovation into dynamic new enterprises."