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On January 12, Energy Singularity made an announcement that it had successfully wrapped up its Series A funding round, amassing a total of RMB 1 billion. This funding round was primarily steered by the Shanghai Sci-Tech Innovation Group, which falls under the aegis of the Shanghai State Investment Group, along with the Shanghai Future Industry Fund. Numerous other institutions also joined in the investment endeavor. The newly acquired funds are earmarked for propelling the development of the next-generation fusion device. The company has outlined an ambitious plan, aiming to conclude engineering validation by 2028, kick off the construction of a commercial demonstration reactor, and ultimately construct a fusion demonstration reactor capable of electricity generation by 2032.
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