With $28M total funding and a unique breakthrough in plasma technology that will unlock 1000x higher density than other leading solutions under development, the company is expediting the global drive toward commercializing nuclear fusion energy.
TEL AVIV, Israel, Feb. 1, 2023 — NT-Tao, the nuclear fusion energy company setting a new standard for the future of clean energy, today announced that it has raised a $22M Series A round led by Delek US – a Fortune 500 downstream energy company – and NextGear Ventures, with additional participation from Honda, OurCrowd and the Grantham Foundation, the lead investor in the company’s seed round. This new funding will enable NT-Tao to continue to scale its team, accelerate prototype developments in the pipeline and build its new research facility. The latest investment round brings NT-Tao’s total funding to $28M.
“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,” said Oded Gour-Lavie, CEO and Co-founder of NT-Tao. “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.”
The growing concerns surrounding climate change, soaring energy prices, and increasing geopolitical turbulence have ignited a global urgency to mitigate energy insecurity, control rising temperatures and create a truly sustainable energy future. Renewable energy sources have been acceptable stopgap solutions, however, they’re unreliable and energy dilute, making them insufficient strategies or replacements for fossil fuels in the long run. With a projected $40 trillion valuation, the fusion energy sector represents the future of clean energy.
NT-Tao is pioneering a new approach to fusion, combining the latest in advanced technologies that will provide the world with access to a compact and scalable fusion solution for all energy needs. To achieve this, the company 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. The company will use this investment round to perfect its technology in upcoming prototypes with the aim of achieving energy-breakeven and creating an infinite energy solution that powers the world’s sustainable, decarbonized future.
“We are dedicated to partnering with companies developing breakthrough technologies that will make a significant impact on the world, and NT-Tao fits perfectly into our partnership framework. We not only invested in the company, we also brought in with us top-notch global players to co-invest and open up collaboration opportunities for the company,” said Dr. Tal Cohen, Managing Partner at Next Gear Ventures. “Clean energy sources are an inherent and imperative component of securing a sustainable future. The compact, modular approach pioneered by NT-Tao stands out in a competitive marketplace and represents a game changer not only for the mobility sector but in how humanity will harness and democratize energy and revolutionize the world for generations to come.”
“Honda has high expectations for the future of NT-Tao, a company with advanced fusion energy technology, led by management team members with a high level of expertise,” said Shinji Aoyama, Director and Senior Managing Executive Officer of Honda. “Honda believes that fusion energy technology will be a breakthrough technology for affordable, stable, clean energy, and we envision this technology will become increasingly important as electrified vehicles become more popular. Honda will continue to search for, collaborate with, invest in, and acquire promising venture companies through our global open innovation program, Honda Xcelerator.”
About NT-Tao
NT-Tao is disrupting the global energy sector by engineering a compact and scalable nuclear fusion energy technology with the goal of achieving commercialization this decade. The company’s proprietary ultra-fast plasma heating method will enable it to reach 1000 times higher density than other fusion reactors, thereby making its fusion reaction 1 million times more effective and resulting in significantly greater efficiency of energy production than other leading solutions. Co-founded by Oded Gour-Lavie, Doron Weinfeld, and Boaz Weinfeld, NT-Tao’s mission is to enable the world to transition away from conventional energy sources such as oil, natural gas, and coal and move towards fusion energy technology, which is the cleanest, most sustainable energy source and the surest path to a decarbonized future. Emerging from stealth in 2022 and headquartered in Israel, NT-Tao is dedicated to offering the world a cleaner and safer energy alternative. For more information visit www.nt-tao.com.
About Honda Xcelerator
Honda Xcelerator is an open innovation program promoting collaboration between startups and Honda. Silicon Valley-based Honda Innovations, a subsidiary of Honda Motor Co., Ltd., has been the main driving force behind this global program. For more information visit https://xcelerator.hondainnovations.com/.
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