The partnership between NFG and St1 is a significant milestone in the fusion energy sector. St1, as the lead investor and largest institutional shareholder, brings extensive business, industrial and regulatory knowledge, and a strong global network to support NFG’s mission. With St1 CEO Henrikki Talvitie joining NFG’s board of directors, the collaboration is set to drive forward the development of the NOVATRON fusion solution—a disruptive technology with the potential to revolutionise the energy landscape.

Novatron recently announced the successful assembly and system integration testing of its first fusion prototype, N1. While experimental work continues on N1, the company is already preparing for the next phase of its roadmap, where long-term industrial partnerships will be key to accelerating the development and commercialisation of fusion energy.

 

“St1 operates in an industry that needs to transform and has a proven track record of genuinely wanting to accelerate the reshaping of the energy market. As we start preparing for industrialisation, we need to secure these types of partners that can contribute with experience, an extensive global network, and a strong position in the energy system,” says Peter Roos, CEO of Novatron Fusion Group in a press release issued today.

For St1, investing in fusion energy aligns with its long-term goal of leading the transition to CO2-aware energy. The company recognises the role of breakthrough technologies like NFG’s fusion solution in reducing carbon emissions and ensuring a sustainable energy supply.

 

 “To reach our vision of being the leading producer and seller of C02-aware energy, we need to invest in disruptive innovations, as nearly 50 percent of the carbon emission cuts required by 2050 will rely on technologies such as the NOVATRON fusion solution”, commented Henrikki Talvitie, CEO of St1 Nordic Oy in the press release. “Although a lot of work remains, we believe that NFG has a game-changing formula. As an owner with a long-term mindset, we are excited over this opportunity to help accelerate the work towards limitless fossil-free energy.”

The oversubscribed €10 million funding round attracted both new and existing investors, further strengthening Novatron’s position. Alongside St1, the round included participation from TomEnterprise, Unit E Limited, Axon Partners Group, Climentum Capital, Santander, Granitor and Industrifonden. This diverse group of investors further strengthens Novatron’s solid foundation of expertise and networks, positioning the company for its next phase of development.

While the NFG-St1 partnership will help strengthen energy resilience in the Nordics, the vision extends far beyond. The ultimate goal is to establish fusion energy as a scalable, safe, and affordable clean energy source globally. By bringing together cutting-edge science and industrial leadership, NFG and its partners are taking bold steps toward a future powered by virtually limitless fossil-free energy.

 

At InnoEnergy, we congratulate the NFG team on this major milestone and warmly welcome St1 and all new investors to the cap table. As a proud investor, we remain committed to supporting Novatron on its journey to commercialising fusion energy and driving the clean energy transition forward. We look forward to continuing our collaboration and seeing Novatron take the next steps toward making limitless, fossil-free energy a reality.

 

For more information, read NFG’s press release here: Novatron Fusion Group closes funding round and joins forces with lead investor St1 to accelerate fusion energy in the Nordics — Novatron Fusion

 

Photo credit: Novatron Fusion Group – Erik Odén, founder and chairman of Novatron Fusion Group, Henrikki Talviti, CEO of St1, and Peter Roos, CEO of Novatron Fusion Group in front of NOVATRON 1