Investment

Deal of the Week: More family office money piles into fusion

WILD Family Office, which manages the investments of HansPeter Wild, a Swiss-based billionaire, has invested in Tokamak Energy, a UK company developing fusion energy. WILD invested £67 million in Tokamak, which says it’s at the cusp of commercializing fusion power. 

“We are taking established science and building on it by pioneering the use of spherical tokamaks in conjunction with high temperature superconductors,” Tokamak said on its website. 

Tokamak has already received an investment from Winton Ventures, the private investment office of David Harding, the UK billionaire hedge fund manager. Winton Ventures, together with insurance group Legal & General invested £10 million in the Oxford-based group three years ago. 

The investment comes after Commonwealth Fusion Systems (CFC) received backing last year from Moore Strategic Ventures, a private investment group owned by hedge fund billionaire Louis Bacon. 

CFC was spun out of MIT’s plasma science and fusion centre, which is one of the epicentres of global fusion development. The Boston-based company’s CEO, Bob Mumgaard, predicts CFO will have a working power plant in time to combat climate change. “We think we have the science, speed and scale to put carbon-free fusion power on the grid in 15 years,” he said in 2018. 

Like CFC, Tokamak was spun out of a research establishment, the UK-based Culham Centre for Fusion Energy.

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