Tokamak Energy and Furukawa Electric Group advance partnership toward limitless fusion energy

Tokamak Energy and Furukawa Electric Group have agreed to establish a joint operational base in Japan to manufacture critical fusion energy power plant magnet technology.

It follows an international partnership between the UK and Japanese governments to collaborate on fusion energy, the power of the stars, announced today during a meeting between Kerry McCarthy, Parliamentary Under-Secretary of State (Minister for Climate) and Hiroshi Masuko, Senior Deputy Minister of Education, Culture, Sports, Science and Technology. During their meeting, both governments welcomed the signing of the agreement.

Tokamak Energy has built a wide network of government, commercial, scientific and academic partners in Japan in recent years. Together with Furukawa Electric, the company is supporting the FAST (Fusion Advanced Superconducting Tokamak) development project, which aims to demonstrate fusion-based electricity generation in the 2030s.

The partners will also pursue other uses for their transformative high temperature superconducting (HTS) magnet technology, which will unlock new levels of performance and sustainability in a range of industries including science and medicine, manufacturing, power generation and distribution, and land, water, air and space propulsion.

Furukawa Electric entered into an investment agreement with Tokamak Energy in December 2023, building on a longstanding strategic partnership aimed at realising zero carbon, safe and abundant fusion energy.

Warrick Matthews, Tokamak Energy CEO, said: “Our magnet technology is an essential part of turning the promise of limitless clean fusion energy into commercial reality. This new venture with Furukawa Electric Group will ramp up our manufacturing capabilities and open a new era of superconducting performance in a range of sectors, from powering data centres to revolutionising electric zero emission motors. Together we can make a global impact by transforming industry and driving innovation.”

Hideya Moridaira, President, Furukawa Electric Group, said: “We are truly honoured to take this important step forward with Tokamak Energy, deepening our collaboration and initiating efforts toward manufacturing HTS magnet technology for fusion energy in Japan. At Furukawa Electric Group, we have long been dedicated to the research and development of superconducting technologies, applying them across a wide range of fields including energy and healthcare.

“This partnership marks a significant milestone toward realising sustainable, safe, and virtually limitless fusion energy. By combining our HTS technology with Tokamak Energy’s innovative fusion technology, we are confident we can contribute meaningfully to the next generation of energy solutions.”

Climate Minister, Kerry McCarthy, said: “The UK is optimally positioned for global fusion investment, and by working closely with Japan we are developing fusion energy – delivering on our clean energy superpower mission and creating jobs in the industries of the future, all part of our Plan for Change.

“Global partnerships such as this one will advance technological developments and help unlock limitless clean fusion power, bringing a fusion energy future closer to a reality.”

Creating fusion energy requires strong magnetic fields to confine and control the extremely hot hydrogen fuel, which becomes a plasma several times hotter than the sun inside a vessel called a tokamak.

Strong magnetic fields are generated by passing large electrical currents through arrays of electromagnetic coils that surround the plasma. The magnets are wound with precision from HTS tapes, manufactured by Furukawa Electric and its group company, Super Power Inc., using multi-layered metal conductors with a crucial internal coating of ‘rare earth barium copper oxide’ (REBCO) superconducting material.

FAST is a private-sector-led collaboration between industry and academia, led by newly-formed Starlight Engine Ltd with support from experts in Japan and around the world. The project contributes significantly to the Japanese Government’s ‘Fusion Energy Innovation Strategy’, which sets a road map to commercialise fusion and achieve its decarbonisation goals.

1030 726 Stuart White
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Chris Martin

Dr Chris Martin

Chairman

Chris Martin is the Tokamak Energy Chairman and a non-executive director. He has considerable international experience successfully growing businesses in the healthcare, energy and environmental sectors. He co-founded ADC Therapeutics in 2011, after launching Zynlonta for blood cancer and leading a NYSE IPO, he stepped down as CEO in May 2022.

He was also Co-Founder of Spirogen Ltd and its Chief Executive Officer leading up to the company’s sale to AstraZeneca in October 2013. Chris has a DPhil from Oxford and an MBA from IMD, and is a Fellow of the Institution of Chemical Engineers and a Sainsbury Management Fellow.

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Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy in January 2023. He spearheads the company’s efforts to develop the technology and build the strategic partnerships to deliver fusion energy in the 2030s and commercialise their groundbreaking high-temperature superconducting (HTS) magnet technology.

Leading a team of over 260 people, with world-leading scientific, engineering, industrial and commercial expertise, Warrick brings a wealth of experience to the role. Before joining Tokamak Energy, he spent 24 years at Rolls-Royce, where he held various operational leadership positions, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

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David Kingham

Dr David Kingham

Executive Vice Chairman

David is our Executive Vice Chairman and one of the founders of the company.

As CEO he led the company from 2009 to 2017, through several investment rounds, raising about £20m. During that time, the company developed and tested the world’s first tokamak (ST25-HTS) to use exclusively high temperature superconducting (HTS) magnets and grew to 50 staff.

David initiated the ST40 high field compact spherical tokamak project which achieved 100-million-degree plasma temperature in 2022. At the other end of the temperature scale, he started to build an outstanding team of superconducting magnet engineers to develop high performance HTS magnets. One of these magnets achieved the remarkable field strength of 26.2 tesla when tested at a temperature of 4K at CERN in 2020.

Prior to establishing Tokamak Energy, David was CEO of Oxford Innovation, a company supplying premises and innovation support services to high tech ventures.

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Mikhail Gryaznevich

Dr Mikhail Gryaznevich

Chief Scientist

Mikhail is a founder of Tokamak Energy and our Chief Scientist. He is a leading global authority on tokamaks and has performed experiments on 16 different tokamak during his distinguished career.

After graduating with an Honours Diploma in Plasma Physics from the Leningrad University in his homeland, Mikhail earned a PhD in Plasma Physics and Nuclear Fusion from the USSR Academy of Science. In 1990, he joined the Culham Laboratory in Abingdon and has been responsible for leading experimental programmes, preparing and performing experiments, designing, constructing and operating tokamak systems and diagnostics, as well as supervising students and scientific and engineering personnel.

Mikhail is a Visiting Professor at Imperial College in London and an editorial board member for the Plasma Science & Technology Journal and the Open Plasma Physics Journal. He regularly lectures about the physics behind spherical tokamaks at universities and plasma physics schools across the world.

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Erik Bonino

Non-Executive Director

Erik Bonino joined Tokamak Energy as a Non-Executive Director in January 2021.

Erik has over 30 years’ international experience in the energy sector in operations, major projects and technology development.

Erik is a mentor to Imperial College London’s IVMS program where he advises a number of technology start-up companies in energy and related fields.

Erik retired from Shell in August 2018, where he held the roles of UK Country Chair and Executive Vice President of Downstream Technologies. His portfolio included Shell’s Catalyst and Licensing business through which he developed Shell’s bio-fuel technology. He also established Shell’s Global technology campus in Bengaluru, India. Prior to this he served as the Executive Vice President of Project and Engineering Services with responsibility for the delivery of new production facilities, technology and technical support for both the Upstream and Downstream Businesses.

Prior to joining Shell in 2002 Erik spent 18 years in the oil and gas industry, first in the leadership of major capital projects and then in management consulting as Vice President of Energy and Utilities with Cap Gemini Ernst and Young. As a senior consultant he has advised many blue-chip energy companies on operational performance improvement and has led utility privatisations in Europe.

Erik holds an MBA from Cranfield School of Management and a B.Sc. (Hons) in Electrical Engineering from Southampton University. He is a Fellow of the Energy Institute.

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David Gray CBE

Non-Executive Director

David Gray joined Tokamak Energy as a Non-Executive Director in October 2019.

He has spent 30 years working in financial markets, mainly with HSBC, and has extensive experience of the energy sector including advisory roles on the initial privatisations of British Gas and the electricity sector.

He is currently Chair of Mutual Energy and the Energy Innovation Centre (EIC). Mutual Energy is an energy infrastructure company based in Northern Ireland. It owns the electricity and gas interconnectors between Scotland and Northern Ireland together with gas transmission assets in both countries. The EIC acts as an intermediary between innovators and energy network companies to optimise the effective adoption of innovative solutions by the industry.

David was previously Chair of the Gas & Electricity Markets Authority (the board of the energy regulator, Ofgem) from 2013 – 2018 and was Ofgem’s Managing Director, Networks from 2003 – 2007. After leaving Ofgem in 2008 he was a member of a panel advising the Department for Transport on the economic regulation of airports and subsequently led a review of Ofwat on behalf of DEFRA and the Welsh Assembly Government. He was also a non-executive Director of the Civil Aviation Authority (CAA) from 2009 to 2019.

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David Harding

Sir David Harding

Non-Executive Director

Sir David Harding joined Tokamak Energy as a non-executive Director in March 2022. He is the Founder and Chief Executive Officer of Winton Group Limited.

Sir David graduated from Cambridge University with a First Class Honours degree in Natural Sciences specialising in Theoretical Physics. He then embarked on a career in the analysis of futures and trading markets, which led him to co-found Adam, Harding and Lueck Ltd in 1987 with Martin Lueck and Michael Adam. AHL rapidly became one of the leading commodity trading advisors in the UK and was acquired by Man Group plc in 1994. Sir David left Man Group plc in 1996 and in February 1997, he co-founded Winton with Martin Hunt and Osman Murgian with a commitment to applying financial mathematics and empirical scientific research to creating and developing trading systems for the financial markets.

Sir David has endowed a number of significant projects principally supporting the funding of basic science research in the UK and around the world, including the Winton Programme for the Physics of Sustainability at the Cavendish Laboratory, Cambridge and the Winton Bio-informatics Suite at the Francis Crick Institute. In 2019, Sir David’s foundation gave US$130 million to Cambridge University.

He sits on the Advisory Board of the Royal Society and the University of Cambridge Development Board, and is an honorary Fellow of the Science Museum, and of St Catharine’s College, Cambridge.

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Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy in January 2023. He spearheads the company’s efforts to develop the technology and build the strategic partnerships to deliver fusion energy in the 2030s and commercialise their groundbreaking high-temperature superconducting (HTS) magnet technology.

Leading a team of over 260 people, with world-leading scientific, engineering, industrial and commercial expertise, Warrick brings a wealth of experience to the role. Before joining Tokamak Energy, he spent 24 years at Rolls-Royce, where he held various operational leadership positions, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

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Thomas Pfisterer

Non-Executive Director

Thomas is Director of Direct Investments of the WILD Family Investment Office.  He joined the Family Office following the sale of WILD Flavors GmbH, one of the world’s leading suppliers of natural ingredients to the food and beverage industry, for which he served as Head of Strategic Development directing the company’s global M&A activities since October 2011.  Thomas currently serves on the Boards of Directors of several other companies, including TTTech Computertechnik AG.  He holds a Master’s in Finance from Cambridge University, UK, as well as a BA in Economics and a BA in Business Administration, both from University of St. Gallen, Switzerland.

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Daniel Freeman

Non-Executive Director

Daniel Freeman leads Dorilton Ventures, a venture capital firm investing in advanced technology companies. He has more than 20 years’ experience investing across a range of geographies and asset classes at firms including Lehman Brothers, Deutsche Bank, and Eton Park Capital Management. Daniel holds an AB in East Asian Studies from Princeton, was a Fellow at the Johns Hopkins-Nanjing University Centre for Chinese and American Studies, and received an MBA from the Harvard Business School.

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Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy in January 2023. He spearheads the company’s efforts to develop the technology and build the strategic partnerships to deliver fusion energy in the 2030s and commercialise their groundbreaking high-temperature superconducting (HTS) magnet technology.

Leading a team of over 260 people, with world-leading scientific, engineering, industrial and commercial expertise, Warrick brings a wealth of experience to the role. Before joining Tokamak Energy, he spent 24 years at Rolls-Royce, where he held various operational leadership positions, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

Close

Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy in January 2023. He spearheads the company’s efforts to develop the technology and build the strategic partnerships to deliver fusion energy in the 2030s and commercialise their groundbreaking high-temperature superconducting (HTS) magnet technology.

Leading a team of over 260 people, with world-leading scientific, engineering, industrial and commercial expertise, Warrick brings a wealth of experience to the role. Before joining Tokamak Energy, he spent 24 years at Rolls-Royce, where he held various operational leadership positions, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

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Warren East

Sir Warren East CBE

Non-Executive Director

Sir Warren East CBE, previously CEO of Rolls-Royce and Arm, joined Tokamak Energy as Non-Executive Director in May 2023.

After 11 years at Texas Instruments, he joined Arm in 1994, was appointed to the board in 2000, and was CEO from 2001 to 2013. Under his leadership, Arm became the world’s leading semiconductor IP licensing company.

In 2014, Warren became a non-executive director of Rolls-Royce Holdings and chair of the board’s technology committee. As CEO from April 2015, he led Rolls-Royce through the Covid-19 pandemic and championed the strategic shift to net zero. He retired from the company on 31 December 2022.

In April 2024, Warren was appointed Chair of The UK’s National Air Traffic Service (NATS). He is a Fellow of the Institution of Engineering and Technology (IET), Royal Society and Royal Academy of Engineering, a Distinguished Fellow of the British Computer Society and a companion of the Chartered Management Institute. He has a degree in Engineering Science from Oxford University, an MBA from Cranfield, and honorary doctorates from Cranfield, Newcastle, Bath, Derby, Loughborough and Oxford Universities.

Warren was made CBE in 2014 for services to engineering and technology, and received a knighthood in the 2025 King’s New Year Honours List for services to the economy and net-zero. With his wife, he has established The Relithan Charitable Trust, supporting science education.

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Rory Scott Russell

Non-Executive Director

Rory Scott Russell is head of Venture Capital at East Innovate, the venture capital arm of East X, a quantitative commodity technology and research company. East Innovate invests and partners with early-stage, research-driven start-ups addressing the global energy challenge. He is the founder and co-founder of several technology companies, following an early career in international energy. He has a BSc in Computer Science and Al from the University of Edinburgh.

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Martin Kleppe

Non-Executive Director

Since 2017, Martin Kleppe has been working as General Counsel at the Family Office of Dr. Hans-Peter Wild. In this role, he is responsible for all legal matters, particularly in connection with the various investments and holdings of the company group. Prior to this, he spent over ten years at an international law firm, specializing in Mergers & Acquisitions (M&A), joined the legal team of an investment bank in Sydney, Australia, and served as a board member of a real estate company.

Martin Kleppe completed his law studies at the University of Cologne, Germany. He also earned a Dr. iur. (Doctor of Law) degree from the University of Cologne.

He joined the Tokamak Energy board as a non-executive director in January 2025.

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Ross Morgan

Director of Strategic Partnerships

Since joining Tokamak Energy in 2016, Dr. Ross Morgan has been instrumental in establishing and leading the global strategic partnerships that are crucial for commercialising the company’s pioneering fusion and superconducting technologies. Recently, he spearheaded the creation of Tokamak Energy K.K., the company’s Japanese subsidiary.

Dr. Morgan holds both a BSc and a PhD in Chemistry from the University of Bristol. His career in plasma systems began in 1996 at the Culham Centre for Fusion Energy. Over the years, he has held various commercial management roles at AEA Technology, Accentus plc, and CompactGTL Ltd.

With over 25 years of experience in developing and commercialising new technologies, his unwavering commitment to innovation and partnership continue to play a pivotal role in Tokamak Energy’s success. He is driven by the opportunity to work on cutting-edge technology that promises to have a profound positive impact on the future of our planet.

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Anita Breslin

Chief Financial Officer

Anita Breslin is a highly accomplished finance professional with extensive leadership experience. Appointed as Chief Financial Officer at Tokamak Energy in 2024, she brings 25 years of expertise in the energy sector, having previously served as CFO at AIM-listed AMTE Power.

Her career includes a significant 19-year tenure at BG Group plc, where she was a key member of the Global Business Development leadership team, responsible for setting the growth strategy for the group. During this time, she was involved in major investment activities, including a multi-billion-dollar LNG offtake contract, and played a crucial role in the integration of BG Group and Shell following their merger in 2016.

Since 2016, Anita has focused on renewable and alternative energies, holding leadership roles at Vattenfall Energy Solutions, Joule Africa, and AMTE Power. Her financial acumen, strategic vision, and collaborative approach are now driving Tokamak Energy’s efforts to deliver fusion energy and transformative HTS technology, advancing the company’s growth strategy. Anita is driven by a commitment to realising clean fusion energy at scale.

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Itxaso Ariza

Chief Technology Officer

Itxaso Ariza joined Tokamak Energy as Chief Technology Officer in 2024, following an impressive 19-year career at Rolls-Royce, where she held various technical leadership roles. Most notably, she served as Chief Engineer in the civil aerospace division for seven years, becoming the first female Chief Engineer for a major engine program in the company’s century-long history.

A Fellow of the Institution of Mechanical Engineers since 2015, Itxaso was honoured with the Sir Ralph Robbins Royal Aeronautical Society medal for Excellence in Engineering Leadership in 2019. Originally from Bilbao, Spain, she now leads Tokamak Energy’s technology strategy and execution at a crucial time of commercialisation and growth for the company’s fusion and high-temperature superconducting (HTS) technology.

Itxaso is driven by a desire to contribute to the development of a cleaner energy future, and to leverage the transformative impact of superconducting technologies across multiple sectors, helping to turn Tokamak Energy’s technological advantage into a world-leading business.

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Christian Lowis

General Counsel

Christian Lowis joined Tokamak Energy as the company’s first General Counsel in 2023. He brings extensive legal expertise from his nine-year tenure at Rolls-Royce, where he served as Chief Counsel for Operations and Procurement, gaining significant experience in supply chain management and complex transactions. Prior to Rolls-Royce, he spent 15 years in private practice, including as a partner at a Top 25 global law firm, specialising in mergers and acquisitions, partnerships, stock market launches, and fundraises.

Christian oversees Tokamak Energy’s legal matters, particularly those related to intellectual property and partnerships, which are crucial for the commercialisation of the company’s world leading fusion energy and high-temperature superconducting (HTS) technologies.

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Michael Ginsberg

President, Tokamak Energy Inc.

Dr. Michael Ginsberg is the President of Tokamak Energy Inc., where he spearheads the growth of the company’s U.S. operations, established in 2019.

Dr. Ginsberg has nearly two decades of experience in the sustainable energy sector. As Vice President of Technology at Avina Clean Hydrogen, he led system integration and project execution for green hydrogen plants and played a pivotal role in the company’s capital raise. His previous roles include Vice President of Energy Transition at Bowman Consulting Group, where he expanded energy services and advised on several multimillion-dollar acquisitions. Additionally, he served as a solar energy specialist for the U.S. Department of State and as an advisor for the UC Berkeley community microgrid project, EcoBlock. He is also the author of two books on renewable energy.

Dr. Ginsberg is leading Tokamak Energy Inc.’s U.S. expansion in both fusion and superconductor technologies, following the company’s selection as one of eight private companies for the U.S. Department of Energy’s multimillion-dollar Milestone-Based Fusion Development Program. Building on long-standing relationships with U.S. government, industry, and research partners, he is committed to delivering a clean and energy-secure future, utilising Tokamak Energy’s world-leading technologies to help achieve U.S. energy independence and revolutionize energy-intensive industries.

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Dr. Liam Brennan

Director, TE Magnetics

Dr. Liam Brennan is the Director of TE Magnetics at Tokamak Energy, where he leads the company’s superconducting technology business into an exciting new era. Prior to joining Tokamak Energy, Liam spent eight years at the UK Research and Innovation Science and Technology Facilities Council (STFC), an organisation that supports cutting-edge research in astronomy, physics, high-power laser, computational science, and space science. As Head of Technology Transfer and Associate Director at STFC, he led a team working across all areas, focused on exploiting innovations and commercial opportunities arising from physical sciences research. He also oversaw the execution of technology sales, licences and the creation of spinouts backed by patents and strong technical teams.

Liam holds a PhD in Biosystems Engineering from University College Dublin. He is driven by a passion for realising the positive real-world value of technology innovation. His strategic vision and leadership are crucial as he spearheads the commercialisation of Tokamak Energy’s transformative high-temperature superconducting technology for fusion and other applications, including analytical science, renewable energy, power distribution, and propulsion across land, water, air, and space.

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Dr. Mike Porton

Company Chief Engineer

Dr. Michael Porton is a distinguished engineer with eighteen years of experience at the forefront of technological innovation. Before joining Tokamak Energy, he dedicated nearly a decade to the UK Atomic Energy Authority. During his tenure, he served as Chief Engineer of the Joint European Torus Project, where he led preparations for world-record campaigns. Subsequently, he became the UKAEA Chief Engineer, overseeing the safety, effectiveness, and impact of engineering across all UKAEA fusion facilities and activities.

In 2022, Dr. Porton took on the role of Chief Engineer at Tokamak Energy. Here, he spearheads the design and realisation of the company’s fusion devices, driving the future of fusion energy. Dr. Porton holds a PhD in Engineering from Cranfield University and an MSc in Nuclear Physics and Engineering from the University of Birmingham.

His work is characterised by his ability to bridge disciplines and foster effective teamwork. His exceptional contributions have been recognized by the UK Royal Academy of Engineering, which awarded him the prestigious George Macfarlane Award.

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Lyanne Maclean

Lyanne Maclean MBE

Director of Operations and Programmes

Lyanne Maclean MBE is the Director of Operations at Tokamak Energy, playing a pivotal role in the company’s journey towards commercial fusion. She joined the company in late 2022, bringing extensive experience from both the public and private sectors, and has led on our many of TE’s key programmes – ST40 and DEMO4 in addition to our operational teams.

Before joining Tokamak Energy, Lyanne for three years was the Chief Operating Officer at the UK Atomic Energy Authority (UKAEA), where she led the daily operations of the organisation including JET and implementing business strategies and initiatives. Prior to her tenure at UKAEA, she spent five years at Royal Mail, holding senior operational appointments in Fleet and Operations, where she contributed to the commercialisation of the fleet, the delivery of operations, and the establishment and success of the LGBTQ+ Network.

Lyanne’s career began with a distinguished 26-year military service in the British Army, with the Royal Logistic Corps. Rising to the rank of Colonel, she served in leadership and strategic roles in the Ministry of Defence, with the UN, and NATO and led in conflict zones. She was made a Member of the Order of the British Empire (MBE) for her services.

At Tokamak Energy, Lyanne’s vision and operational expertise are crucial as the company develops its pioneering fusion and superconducting technology, scales its business, and builds further collaboration across the industry.

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Jane Shannon

Director of People and Engagement

As Director of People and Engagement at Tokamak Energy, Jane Shannon shapes the company’s human resources and engagement strategies during a pivotal growth phase for the company and the wider fusion industry.

Jane brings a wealth of experience from her previous HR leadership roles in both public and private sectors. Prior to joining Tokamak Energy, she served as Human Resources Director at Corndel, an organisation specialising in training programs for major companies. She also spent three years at G4S as Head of Learning and People Development. Jane’s career began in public service, including a decade as Head of Learning and Development at Her Majesty’s Courts and Tribunals Service (HMCTS).

At Tokamak Energy, Jane leads the People and Engagement department, driving strategic HR initiatives and nurturing a positive workplace culture. She also co-chairs the UK Fusion Skills Council, a collaboration between the UK Atomic Energy Authority (UKAEA), commercial entities, and academic institutions, aimed at supporting the fusion industry’s expanding workforce.

Jane is passionate about empowering the next generation to achieve the goal of delivering fusion as a reliable source of clean and affordable energy, addressing the growing energy demand and combating climate change.

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