Israeli nuclear fusion energy company NT-Tao today announced the completion of a $22 million Series A financing round led by Delek US and NextGear Ventures, with participation from Honda, OurCrowd and the Grantham Foundation. The latest investment brings NT-Tao’s total funding to $28 million.
The company, which was founded by CEO Oded Gour-Lavie, chief scientists Doron Weinfeld and CTO Boaz Weinfeld, is pioneering a new approach to fusion, combining the latest in advanced technologies that will provide access to a compact and scalable fusion solution for all energy needs. This new funding will enable NT-Tao to continue to expand its team, accelerate prototype developments in the pipeline and build its new research facility.
Gour-Lavie said, “NT-Tao is rapidly headed towards developing a high-density, compact fusion reactor to provide the cleanest form of sustainable energy to mitigate the pending climate crisis. We’re proud to be the first Israeli fusion energy company pioneering the next generation of fusion energy to enable an era of limitless power and global energy security. With the support of industry-leading investors, NT-Tao is moving at a rapid pace of development to ensure that the commercialization of fusion energy becomes a reality.”
NT-Tao has invented a “Critical Angular Momentum Plasma Stabilizer,” a core component of its proprietary Super Stabilized Confined Plasma (SSCP) technology. Combining this with NT-Tao’s unique ultra-fast heating technology will enable the company to work at a density that is 1000x higher than other leading solutions. This optimal plasma regime yields a fusion reaction that is 1,000,000x stronger, resulting in significantly more efficient energy production, for a clean energy future.
Published by Globes, Israel business news – en.globes.co.il – on February 1, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
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