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Fusion energy developer Novatron celebrates rapid progress during first anniversary at KTH Stockholm

Energize Editors

Energize Editors

Novatron Fusion Group celebrated rapid progress on its first-year anniversary at KTH Royal Institute of Technology in Stockholm.

KTH Vice Chancellor Stefan Östlund welcomed guests to the Teknikringen wing of Sweden’s leading technical university, where Novatron was officially launched just 12 months ago – with a mission to revolutionize the field of fusion energy production.

It caps off a momentous year, with Novatron’s ambitious project attracting world-class researchers and engineers from Sweden, Japan, the USA and China – adding to the core team of 30. Several months ago, Novatron closed a seed round, raising EUR 5 million, led by Climentum Capital, in syndication with Industrifonden, Santander InnoEnergy Climate Fund, and with renewed investments by KTH Holding and EIT InnoEnergy.

Novatron Fusion Group CEO Peter Roos said: “We are fully committed to the green transition, and we will continue to work hard to secure future net zero investments in 2024 as well as push our roadmap.” He was joined on stage Project Managers Josefin Snöbohm and Inger Frii-Fleerackers to deliver a detailed progress report about the Novatron.

The event continued with a panel discussion involving Vinnova Senior Advisor Anne Lidgard and KTH Holding CEO Lisa Ericsson, responsible for managing KTH’s investment arm. Alongside Peter Roos they considered how the deeptech sector is progressing both in Sweden and abroad, including funding models and political support.

In particular, they discussed how Sweden’s approach to nuclear fusion differs from other countries, referencing the nation’s ‘Triple Helix’ cooperation model, where academia, industry and government combine to identify, research and develop innovative technologies to meet the nation’s needs.

A second panel discussion involved Industrifonden Investment Manager Mala Valroy, EIT InnoEnergy Scandinavia CEO Kenneth Johansson and Novatron Fusion Group Partnerships Director Philip von Segebaden.

This offered a global perspective on fusion energy from some of Novatron’s key investment partners, with insight on the firm’s international growth plan including academic partnerships in the US, UK and Japan.

Novatron Fusion Group Chairman and Co-founder Erik Odén rounded off the event providing a roadmap for 2024 and beyond. “We at Novatron Fusion Group are preparing to play an instrumental part in transforming our society with viable fusion power,” he said.

The event was moderated by Novatron’s Chief Communications Officer Linda Nyberg.

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