1月12日，星环聚能落地上海签约仪式、投资签约仪式在嘉定成功举办。据悉，星环聚能顺利完成10亿元A轮融资，资金将用于全力推进可控核聚变技术 从实验验证迈向工程示范，加速商业化进程。 本轮融资由上海国投公司旗下上海科创集团、上海未来产业基金领投，中金资本、上海嘉定科技投资集团联合领投，中银资产、曦晨资本、武岳峰科创、 龙格科技、飞图创投、上汽金控、山东能源上海兖矿资产、中集环科、尚融资本、元禾璞华、申万宏源、彬复资本、臻一资产等机构和个人共同投资，公 司Pre-A轮领投方上海科创集团旗下知识产权基金继续跟投。融资资金将用于全力推进下一代聚变装置建设。公司规划于2028年前后彻底完成工程验证， 启动商业示范堆建设，2032年前后建成一个可输出电能的聚变反应示范堆。 嘉定区委书记肖文高，区委副书记、区长高香，区委常委、常务副区长陆祖芳，上海市科委二级巡视员郑广宏，市核电办党组书记、主任陆海宾，上海国 投公司科创总监、上海科创集团党委书记、董事长朱民，市发展改革委、市经信委等相关委办局代表，相关投资机构负责人，星环聚能CEO陈锐、首席科 学家谭熠等企业代表出席签约仪式。 签约仪式上，嘉定区徐行镇人民政府与星环聚能签署 ...

本轮融资由上海国投公司旗下上海科创集团、上海未来产业基金领投，中金资本、上海嘉定科投集团联合领投，中银资产、曦晨资本、武岳峰科创等知名 机构和个人共同参投，公司Pre-A轮领投方上海科创集团旗下知识产权基金继续跟投。 星环聚能于2021年10月成立，2025年11月由陕西迁入上海嘉定。公司致力于聚变能商业应用及相关技术研发，以建成商用可控聚变堆为己任，专注小型 化、商业化、快速迭代的可控聚变能装置。其核心团队成员均毕业于清华大学工程物理系，从事可控核聚变研究超20年。 近日，国内可控核聚变领域迎来标志性事件——上海星环聚能科技有限公司（以下简称"星环聚能"）成功完成10亿元A轮融资，创下国内民营核聚变企业 单笔融资最高纪录。 这不仅是资本市场的又一次瞩目，更是国家战略资本对未来能源基石技术的坚定押注。 01 从清华实验室走出来的独角兽 星环聚能脱胎于清华大学科技成果转化项目，其故事也始于清华园的同窗之谊。1999年，两位青年——来自江西的陈锐与来自湖南的谭熠，共同考入清华 大学工程物理系，成为同班同学。 本科毕业后，两人的轨迹短暂分离：谭熠选择留校深耕，在核聚变研究中稳步前行，后担任清华大学工程物理系副教授； ...

Core Insights - The upcoming "2026 Nuclear Fusion Energy Technology and Industry Conference" signifies a shift from theoretical research to practical industrial applications of controlled nuclear fusion, aiming to integrate this technology into everyday energy use [2][3]. Group 1: Conference and Industry Implications - The conference will gather scientists, engineers, entrepreneurs, and investors to discuss the commercialization of nuclear fusion technology, indicating a significant step towards making "artificial sun" energy accessible to the public [2][3]. - The event is hosted at a key research facility in Hefei, showcasing tangible advancements in nuclear fusion technology, which could lead to a trillion-dollar energy market [3]. Group 2: Technological Milestones - The EAST (Experimental Advanced Superconducting Tokamak) has achieved a world record by maintaining plasma stability at 100 million degrees Celsius for 1066 seconds, surpassing the sun's core temperature and marking a critical milestone for future fusion power plants [4][6]. - The HL-3 (Chinese Fusion Reactor) has also reached a significant milestone by achieving "double hundred million" plasma temperatures, moving closer to practical fusion reactions [8][10]. Group 3: Future Developments and Timeline - The next-generation fusion reactor, BEST, is set to be completed by 2027, with plans to demonstrate fusion energy generation by 2030, ahead of international projects like ITER [10][26]. - A comprehensive timeline outlines milestones for fusion energy commercialization, targeting operational fusion energy by 2040-2045 [30][33]. Group 4: Ecosystem and Market Dynamics - Hefei has developed a robust innovation ecosystem for nuclear fusion, integrating government, industry, academia, and finance, which is crucial for transforming research advantages into industrial benefits [20][22]. - The presence of 47 publicly listed companies in China's "controlled nuclear fusion" sector indicates a growing market, with many firms serving as core suppliers for both domestic and international fusion projects [23].

Group 1 - Shanghai Xinghuan Fusion Energy Technology Co., Ltd. (Xinghuan Fusion) held a project launch and financing signing ceremony in Jiading, Shanghai, with participation from multiple companies including CIMC Enric Holdings Limited and Shanghai Kechuang Group [2] - Xinghuan Fusion, established in October 2021, focuses on the commercial application and technology development of fusion energy, aiming to build a commercially viable controllable fusion reactor [2] - The company employs an original technology route based on high-temperature superconducting strong magnetic field spherical tokamaks, featuring a compact repetitive reconnection fusion technology that significantly reduces device complexity and construction costs compared to traditional tokamak devices [2] Group 2 - Controlled nuclear fusion is recognized as a crucial solution for clean energy and has become a strategically valuable emerging sector in global energy technology [3] - CIMC Enric is leveraging its research and technical advantages to explore new business opportunities in high-end equipment and related strategic fields while solidifying its market position in the tank container business [3] - The collaboration between CIMC Enric and Xinghuan Fusion focuses on the research and manufacturing of core equipment for controllable nuclear fusion, contributing to the development of China's fusion energy initiatives [3]

Group 1 - The core point of the article is that Xinghuan Fusion has successfully completed a Series A financing round, raising 1 billion yuan, setting a record for the largest single financing amount for a private nuclear fusion company in China [1][3] - The financing was led by Shanghai Guotou Company’s Shanghai Kechuang Group and Shanghai Future Industry Fund, with participation from institutions such as CICC Capital and others [3] - The funds raised will be used to advance the construction of the next-generation fusion device, with plans to complete engineering validation by around 2028 and to start the construction of a commercial demonstration reactor by 2032 [3] Group 2 - Xinghuan Fusion originated from a technology transfer project at Tsinghua University, with its core team members having over 20 years of experience in the fusion field [3] - The company has been recognized in several prestigious lists, including MIT Technology Review's "50 Smartest Companies" and Forbes China's "50 Most Innovative Companies" [3] - In June 2022, Xinghuan Fusion secured several hundred million yuan in financing, becoming one of the largest technology transfer projects in the Qin Chuang Yuan initiative [3]

Core Insights - Controlled nuclear fusion is recognized as a future economic growth point in China's "14th Five-Year Plan," emphasizing the importance of hydrogen energy and nuclear fusion energy in the national industrial system [1] - The "15th Five-Year Plan" period is identified as a critical phase for the development of fusion energy in China, with significant advancements being made in Hefei, where three major fusion research facilities are being established [1] Group 1: Project Development - The compact fusion experimental device BEST is currently in the assembly phase, with key components like the vacuum chamber and magnetic support being installed [2] - BEST aims to mimic the sun's energy production through nuclear fusion and is expected to be completed by the end of 2027, with plans to conduct plasma physics experiments by 2030 [6] - The EAST facility has achieved significant milestones, including stable plasma operation for over 400 seconds and simulating conditions necessary for future fusion reactors [12] Group 2: Technological Advancements - The integration of both high-temperature and low-temperature superconducting magnets in the BEST device is intended to enhance its efficiency and compactness, utilizing advanced diagnostics and AI for plasma control [4] - The ongoing upgrades to the EAST facility are designed to support future fusion reactor research, expanding its operational parameters and capabilities [9] Group 3: Industry and Economic Impact - The Hefei region is developing a complete fusion energy industrial chain, with over 200 related enterprises established, covering areas from material development to power plant design and operation [19] - The local government aims to create a robust infrastructure for fusion energy, promoting the commercialization of fusion power and accelerating the application of derived technologies [21]

Group 1 - The concept of controlled nuclear fusion is gaining significant attention due to its potential as a "ultimate energy" source, characterized by abundant raw materials, environmental cleanliness, high safety, and low costs [2][5] - The Wande Nuclear Fusion Concept Index rose by 4.97% on January 12, with several stocks reaching their daily limit, and the index has seen a cumulative increase of nearly 20% in just six trading days [1] - Recent advancements in nuclear fusion technology include the successful excitation of a high-temperature superconducting magnet to 20.8 Tesla by Energy Singularity, marking a significant milestone in the field [2][3] Group 2 - Energy Singularity has developed a 20 Tesla material performance measurement platform, which allows for efficient testing of superconducting materials, addressing the limitations of existing commercial measurement systems [3] - The East Experimental Fusion Reactor, known as the "artificial sun," has confirmed the existence of a density-free zone, providing important physical evidence for high-density operation in magnetic confinement fusion devices [4] - Companies like Xibu Superconductor and China Aviation Optical-Electrical are positioning themselves within the nuclear fusion supply chain, with Xibu supplying materials for international fusion projects and China Aviation Optical-Electrical developing components for fusion systems [6][7] Group 3 - The FRC (Field-Reversed Configuration) approach is gaining traction among domestic and international commercial fusion companies, with notable advancements from Nova Fusion and Hanhai Energy, which are focusing on modular reactor designs [7][8] - Nova Fusion has completed a 500 million yuan angel round of financing, indicating strong investor interest in the FRC technology route [7] - Helion Energy, a U.S. company utilizing the FRC approach, has accelerated its progress with plans to construct the world's first fusion power plant, aiming to deliver fusion electricity by 2028 [8]

民营聚变企业单笔融资纪录再次被刷新！ 1月12日，证券时报记者从星环聚能科技有限公司（以下简称"星环聚能"）落地嘉定暨融资签约仪式上获悉，星环聚能顺利完成A轮融资，融资金额10亿 元，创下国内民营聚变企业单笔融资纪录。此前，行业单笔融资最高额为5亿元。 星环聚能本轮投资人堪称豪华，由上海国投公司旗下上海科创集团、上海未来产业基金领投，中金资本、上海嘉定科投集团联合领投，中银资产、曦晨资 本、武岳峰科创、龙格科技、飞图创投、山东能源上海兖矿资产、中集环科、尚融资本、元禾璞华、申万宏源、彬复资本、臻一资产等机构和个人共同投 资，Pre-A轮领投方上海科创集团旗下知识产权基金继续跟投。 在签约现场，星环聚能CEO陈锐在接受证券时报记者独家采访时表示，公司累计融资约15亿元，投资人超过50家，"很快将进行股份制改革，未来在政策 允许的范围内或将考虑科创板上市"。 据悉，星环聚能A轮融资将用于全力推进下一代聚变装置建设。根据该公司规划，2028年前后彻底完成工程验证，启动商业示范堆建设，2032年左右建成 一个可输出电能的聚变反应示范堆。 星环聚能此次完成A轮融资并落地上海，意味着公司正式融入上海未来产业布局。陈锐说， ...

Core Insights - The domestic controllable nuclear fusion commercialization process has achieved a significant breakthrough with the establishment of Star Ring Fusion Technology Co., Ltd. in Shanghai, marking the transition from laboratory to engineering demonstration phase [1][2] - The company has completed a 1 billion yuan Series A financing round, led by Shanghai Science and Technology Innovation Group and Shanghai Future Industry Fund, with participation from over ten well-known institutions and individuals [1] - The funds will be used to advance the construction of the next-generation fusion device, with plans to complete engineering validation by 2028 and to establish a commercial demonstration reactor by around 2032 [1] Company Developments - Star Ring Fusion's CEO stated that the company originated from Tsinghua University's technology transfer and has a core team with over 20 years of research and development experience in the fusion field [1] - The project is a key initiative for Shanghai's future energy industry and aims to support the city's development as a globally influential technology innovation center [1][2] Strategic Partnerships - Shanghai Science and Technology Innovation Group has expressed its commitment to support Star Ring Fusion in overcoming challenges in "artificial sun" technology, emphasizing a forward-looking strategy in the controllable nuclear fusion sector [2] - A cooperation agreement was signed between the local government of Jiading District and Star Ring Fusion, which includes the establishment of a research and development center and experimental base in Xu Xing Town [2] - The planned experimental base will cover approximately 25 acres with a total construction area of 50,000 square meters, expected to be completed by 2027, serving as a leading platform for fusion energy research and engineering validation in China [2]

民营聚变企业单笔融资纪录再次被刷新！ 1月12日，证券时报记者从星环聚能科技有限公司（以下简称"星环聚能"）落地嘉定暨融资签约仪式上 获悉，星环聚能顺利完成A轮融资，融资金额10亿元，创下国内民营聚变企业单笔融资纪录。此前，行 业单笔融资最高额为5亿元。 星环聚能本轮投资人堪称豪华，由上海国投公司旗下上海科创集团、上海未来产业基金领投，中金资 本、上海嘉定科投集团联合领投，中银资产、曦晨资本、武岳峰科创、龙格科技、飞图创投、山东能源 上海兖矿资产、中集环科（301559）、尚融资本、元禾璞华、申万宏源、彬复资本、臻一资产等机构和 个人共同投资，Pre-A轮领投方上海科创集团旗下知识产权基金继续跟投。 在签约现场，星环聚能CEO陈锐在接受证券时报记者独家采访时表示，公司累计融资约15亿元，投资人 超过50家，"很快将进行股份制改革，未来在政策允许的范围内或将考虑科创板上市"。 当天，星环聚能签约落户上海嘉定区，设立研发中心及实验基地，重点推进"星环一号"聚变装置的研发 与产业化进程。新一轮融资已启动，明天，陈锐将与四位投资人见面，同时他还将抽空去租房子，计划 着举家搬至上海。 上海国资主导A轮融资 星环聚能脱胎 ...