Sir David Harding Joins Tokamak Energy Board

OXFORD, England, March 10, 2022 /PRNewswire/ -- Tokamak Energy has announced that Sir David Harding has joined its Board of Directors.

Sir David, who has been at the forefront of systematic investment management for more than 30 years, saw the potential of the spherical tokamak path to fusion energy in 2014 when he first invested in the company, and brings world leading finance and commercial expertise to the board.

Dr. Chris Martin, Chairman of Tokamak Energy, said: "Sir David joins the board at an exciting time for the company and fusion energy and we look forward to his contribution as we advance fusion's potential to significantly decarbonise the global economy."

Sir David's appointment comes at the same time as the announcement of a world-first with the ST40 spherical tokamak achieving a plasma temperature of 100M degrees Celsius, the threshold required for commercial fusion energy. This is by far the highest temperature ever achieved in a spherical tokamak and by any private fusion energy company. The ST40 will now be upgraded and used to develop technologies for future devices.  

The ST-HTS will be the world's first spherical tokamak to use high temperature superconducting (HTS) magnets and is due to be commissioned in the mid-2020s. This device will demonstrate multiple advanced technologies required for fusion energy and inform the design of a world first fusion pilot plant, to be commissioned in the early 2030s.  

Sir David Harding said: "The 100 million degree plasma temperature milestone brings Tokamak Energy significantly closer to making commercial fusion energy a reality. I am delighted to join the board as it enters an exciting new chapter to deliver a fusion demonstrator based on its world class technologies."

Tokamak Energy has raised £120 million to-date from leading UK and European investors, including institutional investor Legal & General, Sir David Harding, Lord Simon Wolfson, and Dr. Hans-Peter Wild. 

Group CEO of Legal & General, Nigel Wilson, said: "After thirty years of limited progress in the sector, Tokamak Energy is now making great strides towards the delivery of fusion energy. Tokamak's latest milestone reaching the temperature required for commercialisation is further evidence of progress being made. Energy needs to be clean, green and cheap, plus we need energy security. Legal & General invested into Tokamak Energy in 2016 to help accelerate and support this ambition. We are privileged to have Sir David Harding joining the board of directors to continue to drive forward the growth of the business, helping to ensure the UK can lead the way in this area."

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Notes to Editors

Tokamaks use magnets to contain a plasma so that it can reach the high temperatures at which fusion occurs. High magnetic fields are necessary for tokamaks to contain the superheated fuel, and higher magnetic fields enable a smaller, lower cost tokamak. 

About Tokamak Energy

Tokamak Energy is a leading global commercial fusion energy company based near Oxford, UK.  The company is developing the fusion power plant of tomorrow while commercialising the technology applications of today.

Tokamak Energy is pursuing fusion through the combined development of spherical tokamaks, with high temperature superconducting (HTS) magnets. 

The company, founded in 2009 as a spin-off from the Culham Centre for Fusion Energy, currently employs a growing team of over 180 people with talent from the UK and experts from around the world. It combines world leading scientific, engineering, industrial and commercial capabilities. The company has more than 55 families of patent applications and has raised over £100m of private investment.

Once realised, fusion energy will be clean, low cost, and globally deployable – a key enabler for meeting world energy requirements and climate policy goals.

www.tokamakenergy.co.uk

SOURCE Tokamak Energy