nuclear-news

British nuclear fusion pioneer plunges after ditching reactor plans

Oxford’s First Light blames lack of funding after abandoning prototype power plant.

Matthew Field, Senior Technology Reporter

A UK nuclear fusion company has suffered a massive write-down in its value
after ditching plans to build its first reactor. First Light Fusion, based
in Oxford, has seen 60pc wiped off the price of shares after one of its key
backers, IP Group, slashed the company’s price tag from £236m a year ago
to £100m.

It comes after the nuclear group abandoned plans for a prototype
power plant based on its “projectile fusion” technology because of a
lack of funding. The technology involves a 5p-sized projectile being fired
at a fuel cell at extreme speeds using electromagnets to generate a
powerful reaction and simulate collisions at extremely high speeds, such as
those in space.

Instead of building its own plant, First Light plans to
supply other nuclear power companies with one of its inventions, called an
“amplifier”, which houses a nuclear fuel capsule and boosts the power
of fusion reactions. The group has burned through tens of millions of
pounds trying to bring its technology to fruition.

 Telegraph 27th April 2025, https://www.telegraph.co.uk/business/2025/04/27/first-light-fusion-nuclear-fusion-pioneer-abandon-reactor/

April 29, 2025 - Posted by Christina Macpherson | Uncategorized