NovaFusionX, based in Shanghai's Lin-gang Special Area, recently raised 1.2 billion yuan ($179 million) in pre-A financing, bringing its total funding to 2.4 billion yuan within just 16 months of its establishment.

NovaFusionX. [Photo/NovaFusionX]

The company's post-money valuation has surpassed 10 billion yuan, setting new records in China's private fusion sector for funding scale, fundraising speed, and valuation.

Founded in April 2025, NovaFusionX is the first high-tech enterprise in China that focuses on the R&D and industrialization of field-reversed configuration small modular fusion reactors (FRC-SMRs). 

It has built two key competitive advantages. On the one hand, its FRC plasma collision-based "dynamic fusion" technology, proposed by its founder Guo Houyang in 2010, forms the foundation of its pathway to commercialization.

On the other hand, the company has overcome key engineering bottlenecks with high-power solid-state switches, modular high-field magnets, large quartz vacuum chambers, and nanosecond-level precision control and data acquisition systems. All four have been validated through engineering prototypes.

NovaFusionX's first experimental device, Nova 1, is now at the final assembly stage. It is expected to achieve its first plasma discharge by the end of 2026, reach 100 million degrees Celsius in 2027, and produce more fusion energy than the input by 2029. 

From 2030 to around 2035, the company plans to build a 50-100-megawatt commercial demonstration power plant, primarily serving AI data centers and industrial parks.