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NT-Tao, a nuclear fusion energy company, has recently announced the successful completion of a £22 million Series A funding round led by Delek US and NextGear Ventures. The investment round saw participation from notable organisations such as Honda, OurCrowd and the Grantham Foundation, the lead investor in the company's Seed round. The new funding brings NT-Tao's total funding to £28 million.
Classiq co-founders Nir Minerbi (from right), Amir Naveh and Dr. Yehuda Naveh. Photo: David Garb
The company aims to revolutionise the energy sector with its compact and scalable nuclear fusion technology to commercialise it in this decade. NT-Tao's proprietary plasma heating method will allow it to achieve 1000 times higher density than other fusion reactors, making its fusion reaction 1 million times more effective.
NT-Tao was co-founded by Oded Gour-Lavie, Doron Weinfeld, and Boaz Weinfeld to move the world away from conventional energy sources, such as oil, natural gas and coal, towards fusion energy technology, which is considered to be the cleanest and most sustainable energy source.
"NT-Tao is making rapid progress towards developing a compact fusion reactor that will provide clean, sustainable energy to address the impending climate crisis," said Oded Gour-Lavie, Co-founder and CEO of NT-Tao. "We are proud to be the first Israeli fusion energy company leading the way in the next generation of fusion energy, enabling an era of limitless power and global energy security. With the support of leading investors, NT-Tao is making rapid progress towards commercialising fusion energy."
Honda also expressed high expectations for NT-Tao and its advanced fusion energy technology. Shinji Aoyama, Director and Senior Managing Executive Officer of Honda, stated, "Honda believes that fusion energy technology will be a game-changer for affordable, stable and clean energy. We envision this technology becoming increasingly important as electrified vehicles become more widespread."