21专访｜星环聚能10亿元融资背后：可控核聚变加速奔向商业化

Core Viewpoint - The startup company Xinghuan Fusion has completed a new round of financing amounting to 1 billion yuan, indicating strong market confidence in the future of controllable nuclear fusion as it transitions from experimental to engineering stages [1] Financing and Investment - The financing round was led by Shanghai Guotou Company and Shanghai Future Industry Fund, with participation from multiple investors including CICC Capital and Bank of China Asset [1] - This funding reflects the capital market's ongoing optimism regarding next-generation energy prospects [1] Company Development and Milestones - Founded only four years ago, Xinghuan Fusion has successfully built and operated the SUNIST-2 experimental device in collaboration with Tsinghua University and is advancing the CTRFR-1 engineering validation device [1] - The company aims to complete engineering validation and start construction of a commercial demonstration reactor by around 2028, with a goal to establish a fusion reactor capable of generating electricity by 2032 [1] Technical Approach and Innovation - Xinghuan Fusion employs a compact, repeatable fusion technology based on high-temperature superconducting strong magnetic field spherical tokamaks, which is considered to have strong commercial potential [6][7] - The company’s engineering philosophy emphasizes proving feasibility with minimal investment, with a budget of approximately 1 billion yuan for the CTRFR-1 project [7] Strategic Location and Talent Pool - The choice of Xi'an as the base for the startup is attributed to its supportive industrial structure and innovation environment, as well as access to a skilled workforce from local universities [6][12] - The company benefits from a deep talent pool in engineering, particularly in military, aerospace, and precision manufacturing sectors [12] Future Plans and Market Positioning - Following the recent financing, Xinghuan Fusion plans to build the next-generation fusion device in Shanghai, focusing on engineering validation of fusion technology [17] - The company aims to leverage the collaborative advantages of both Xi'an and Shanghai to accelerate the commercialization of fusion energy [18] - The competitive landscape is intensifying, with both domestic and international players targeting key milestones around 2027-2028 [15]