Clean Energy Company That Mimics The Sun Raises $22M
An Israeli startup that creates nuclear fusion technology – the same energy that powers the Sun and the stars – has raised $22 million.
NT-Tao is developing ultra-fast heating technology, which it says will yield a fusion reaction that is a million times stronger than other leading solutions under development, resulting in significantly more efficient energy production.
It says its solution may be available by the end of the decade.
Many countries are trying to achieve viable nuclear fusion. But they struggle to do so on a large scale because the energy needed to reach temperatures of 150 to 200 million degrees Fahrenheit outweighs anything they produce.
Nuclear fusion occurs when immense forces compress and heat hydrogen atoms, fusing them into helium and releasing enormous amounts of energy. One kilogram of fusion fuel can replace 10 million kilograms of coal, and 55,000 barrels of oil.
“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 the company.
“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.”
Nuclear fusion is a clean energy source that does not produce harmful greenhouse gasses. It has the potential to be more efficient than other sources of renewable energy, which are unreliable and dilute – meaning large amounts are needed to produce small amounts of useful energy.
NT-Tao emerged from stealth in 2022, and is headquartered in Tel Aviv.
The investment was led by Delek US and NextGear Ventures, with participation from OurCrowd and others. It will use the investment to build its new research facility, accelerate prototype developments, and scale its team.