Novatron Fusion Group (NFG) has closed its Series A1 funding round after forming a new strategic partnership with lead investor St1, marking a new chapter in its journey towards commercial fusion energy.

The long-term industrial partnership is a strong demonstration of two Nordic companies combining 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.

Helsinki-headquartered energy-transition company St1 has a vision to be the leading producer and seller of CO2-aware energy. The group researches and develops sustainable energy solutions with a focus on fuels, oil refining and renewable energy solutions including waste-based advanced biofuels and industrial wind power. With more than 1200 St1 and Shell branded retail stations and gas filling points in Finland, Sweden and Norway it currently employs more than 1000 staff.

As lead investor, St1 will provide long-term value as well as business, industrial and regulatory knowledge for NFG’s roadmap execution to commercialize fusion energy.

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.

“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 towards fossil-free energy independence. Together, we will work to secure a successful execution of our elaborate roadmap toward our vision,” says 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.

“St1 operates in an industry that needs to transform and has a proven track record of genuinely wanting to accelerate the reshaping of the energy market. As we start preparing for industrialization, we need to secure these types of partners that can contribute with experience, an extensive global network, and a strong position in the energy system,” says Peter Roos, CEO of Novatron Fusion Group.

“To reach our vision of being the leading producer and seller of C02-aware energy, we need to invest in disruptive innovations, as nearly 50 percent of the carbon emission cuts required by 2050 will rely on technologies such as the NOVATRON fusion solution. Although a lot of work remains, we believe that NFG has a game-changing formula. As an owner with a long-term mindset, we are excited over this opportunity to help accelerate the work towards limitless fossil-free energy,” says Henrikki Talvitie, CEO of St1 Nordic Oy.

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.