Shanghai Nova Fusion has completed its angel round of financing, with an amount exceeding 500 million yuan.

Journalists exclusively learned from Shanghai Nova Fusion that the company recently completed a round of angel financing exceeding 500 million yuan, with leading investors including the Zhongguancun Independent Innovation Special Fund of the National Social Security Fund, Junlian Capital, Lightspeed Fusion, Gaorong Capital, Huakong Fund, Mingshi Capital, and Lingang Sci-Tech Venture Capital. The funds will be primarily invested in the research and development of the first small modular nuclear fusion reactor in China. Shanghai Nova Fusion is the main developer of the FRC-SMR technology. The company's relevant person in charge stated that the short-term goal is to achieve a fusion temperature of 100 million degrees Celsius and complete key technology verification; the mid-term goal is to achieve a fusion energy gain factor of Q>1 and overcome the core challenges of economically and efficiently obtaining fusion energy; the long-term goal is to achieve a fusion energy gain factor of Q>10, complete the development of FRC-SMR, and commercialize modular fusion power plants by 2035.