Stellar Energy has recently declared the successful closure of its A++ financing round, amassing a total of 880 million yuan. This round of financing saw the involvement of prominent institutions, including Shenzhen Investment Holdings Capital, Shenzhen Guarantee Venture Capital, Agricultural Bank of China Capital, and Bank of Communications Investment. Additionally, existing shareholders, such as the Intellectual Property Fund under the Shanghai Science and Technology Innovation Group, continued their support with follow-on investments.
The funds raised in this round will be pooled with those from the Series A and A+ rounds, primarily directed towards the establishment of the Shanghai Jiading experimental base. Furthermore, the investments will support the construction and operation of the NTST (Negative Triangular Spherical Tokamak), the design and construction of the CTRFR-1 (Stellar-1), and the acceleration of the engineering process for key technologies. These technologies encompass fusion reactor-grade high-temperature superconducting magnets and AI plasma control, marking significant strides in the field.