Energy Singularity
Assembly Line
Energy Singularity aims for nuclear fusion at half the cost of US rivals
Energy Singularity, founded in 2021, has been developing a small-scale tokamak, a machine expected to be at the heart of fusion power plants. The start-up has grown to about 135 employees and is targeting around $500mn in future fundraising rounds as it tries to develop its next-generation nuclear fusion device, the HH170, by 2027. It is set to be larger, generating significantly more power, and the company hopes to move to commercialise the technology before 2035.
Ye Yuming, Energy Singularity’s chief operating officer and co-founder, believes that rival US groups enjoy “a much more favourable” funding environment, Energy Singularity expects to be able to leverage China’s deep supply chains for key fusion materials, including the HTS material. The company said about 95 per cent of the materials for its first device, the Honghuang 70 or HH70, were locally made, highlighting the “long-term accumulation” of advantages in Chinese nuclear power technology.
Energy Singularity Raises nearly RMB400 Million in Series Pre-A Funding
We are excited to announce that Energy Singularity has raised nearly RMB 400 million in Series Pre-A funding from investors, including ENLIGHTENMENT, miHoYo and etc. Our team will use this capital to design, construct and test a high-filed TF magnet which will provide important technological basis for our next-generation high-field tokamak HH200. After Series Pre-A, our total funding accumulates to nearly RMB 800 million.