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Existing investors, including IP Group plc, provide strong support

 

Oxford, UK; First Light Fusion, the UK’s inertial fusion energy company, and a pioneer in machine learning-driven simulation, today announced the successful first close of its latest funding round. The £25 million first close, led by UK venture firm East X Ventures and its fusion fund Starmaker One, includes a significant strategic investment from the UK Atomic Energy Authority (UKAEA), marking a major milestone in the company’s mission to deliver affordable, scalable, fusion energy.

 The new capital raised, which also includes investment from existing shareholders IP Group plc and its Hostplus managed fund, will accelerate the commercial development of First Light Fusion’s groundbreaking FLARE Fusion Energy concept. This a novel, reactor‑compatible approach to Inertial Fusion Energy (IFE), designed for an energy gain of 1,000 (the energy released from the fusion reaction Vs used to make the reaction happen), has the highest of any solution proposed to date. Enabling this core technology through a commercial partnering strategy, it offers a simpler, lower cost, pathway to fusion energy.

On this first close event Mark Thomas, First Light Fusion, CEO said: “We are thrilled to welcome Starmaker One and UKAEA. Together, their investments are a powerful validation of our technology and support our mission to move at pace towards commercially viable fusion energy. We are also grateful to our existing shareholders for their substantial and continued support.

Theo Mollinger, General Partner of East X Ventures, added: “Through the Starmaker One fund we are helping to build a vibrant fusion ecosystem in the UK. We back pioneering companies which are national champions with dual use technologies and strong commercial plans. We are excited to be including First Light Fusion in our growing portfolio.”

The participation of UKAEA, the home of UK fusion energy research, reflects growing national confidence in both Inertial Fusion and First Light Fusion’s capability to complement and diversify the UK’s fusion technology landscape.

On its investment in First Light Fusion, Tim Bestwick, CEO, UKAEA said: “As described in the recent UKAEA strategy, we are looking to grow UK based industrial capabilities in fusion. We are pleased to make this investment in First Light Fusion, which will support the company in developing their exciting, innovative technologies.”

The funding will enable First Light Fusion to deliver a series of major fusion milestones and accelerate the growth of the company’s commercial business, built on its innovative amplification technology and enhanced simulation and test capabilities.

The company recently achieved several experimental breakthroughs and continues to expand collaborations across academia, government, and industry in fusion, commercial and defence markets.

This announcement reinforces the UK’s position as a global leader in fusion energy innovation and highlights the growing commercial momentum behind alternative fusion pathways. 

ENDS

For further information please contact Stephen Farmer, Communications, First Light Fusion via [email protected] 

Editor’s Notes:

About First Light Fusion

First Light Fusion (FLF) is a UK-based inertial fusion energy company focused on enabling the commercialisation of fusion energy and supporting the UK’s sovereign capabilities in defence and materials science research.

Founded in 2011 as a spin-out from the University of Oxford, First Light has developed proprietary technologies in pressure and velocity amplification technology, machine learning simulation codes (the most advanced in the global fusion sector), and world-leading experimental infrastructure. This includes Europe’s largest pulsed power facility and the UK’s largest two-stage gas gun – multi-use platforms applicable to both fusion and broader high-energy physics research.

In September 2025, First Light published its research paper ‘FLARE – A Bold Strategy to Unlock Fusion Power’ - a concept that unlocks a new faster and more economical pathway to commercial inertial fusion energy.

For more information visit www.firstlightfusion.com

About East X Ventures and Starmaker One

East X Ventures is the venture capital arm of East X, a London based quantitative systematic investment firm operating across global commodities markets.

In partnership with the UK’s Department of Energy Security and Net Zero and the UK Atomic Energy Authority, East X Ventures launched Starmaker One, the first dedicated early-stage fusion energy ecosystem investment fund outside of the USA and the world’s first such VC fund to be partnered with a government cornerstone investor.

Leveraging East X’s expertise in commodities, energy, supply-chains, and markets as well as technology, software, and AI, East X Ventures backs the scientists and engineers redefining and building entire industries. 

For more information visit: www.eastxventures.com