Tokamak Energy appoints Paul Buddin as Chief Financial Officer

Tokamak Energy has appointed Paul Buddin as its new Chief Financial Officer, strengthening the leadership team while the company scales the commercial deployment of its high temperature superconducting (HTS) technology.

Paul brings more than 15 years’ experience as a senior finance leader in advanced engineering and manufacturing businesses, with a track record of financing new production capacity and taking complex technology to global markets.

He spent 11 years at McLaren, rising from Financial Controller to Group CFO. During that time the automotive business grew from £6m to £1.25bn turnover. The growth included opening two new factories and building international sales operations in the U.S., China, Singapore and Spain.

As Group CFO, Paul led funding of more than £1.5bn in equity and debt, including a £563m debut bond, and guided the group through the COVID-19 pandemic. He was most recently CFO at Cambria Investments Holdings, a privately owned diversified organisation focused on automotive retail and property investment.

Warrick Matthews, Tokamak Energy CEO, said: “Paul has built and financed manufacturing businesses through rapid growth, which is exactly the experience we need as we bring our HTS technology to market. With a physics background, he understands the technology and the opportunity it creates across energy, industry and science. He will play a central role as we expand our superconducting magnet and manufacturing capabilities and grow our customer base worldwide.”

Paul began his career at KPMG and is a Fellow of the Institute of Chartered Accountants in England and Wales. He holds a first-class master’s degree in physics from the University of Bath and worked as a technical student at CERN in Geneva.

Paul Buddin, CFO, said: “High temperature superconductors have the potential to transform how we generate, transmit and use power, and Tokamak Energy has the technology, expertise and manufacturing capability to lead that market. I’m looking forward to working with the team to secure the investment and partnerships that will unlock the power of our HTS systems to customers around the world.”

Tokamak Energy recently completed a world-leading fusion magnet system test campaign, validating its technology for commercial HTS systems. Earlier this year, the company was named Magnet Systems Partner for the UK’s STEP Fusion programme and advanced its collaboration with Furukawa Electric on UK HTS tape capability.

Through TE Magnetics, Tokamak Energy develops HTS magnet and power systems for applications including data centres, fusion energy, scientific research, medical and advanced transportation. HTS magnets generate powerful, efficient magnetic fields in a compact footprint and require significantly less energy than conventional systems.

Its Ridgway Machines business, acquired in 2025, builds precision production equipment for the superconducting, electrical and energy sectors, strengthening the supply chain needed for HTS at scale.

Tokamak Energy, founded in 2009 as a spin-off from UK Atomic Energy Authority, also delivers fusion energy technologies, expertise and test facilities to national programmes.

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Tokamak Energy completes world-leading fusion magnet campaign, validating technology for commercial HTS systems 
Chris Martin

Dr Chris Martin

Chairman

Dr Chris Martin is Chairman of Tokamak Energy and a Non-Executive Director. He has extensive international experience building and growing businesses in the healthcare, energy and environmental sectors.

He co-founded ADC Therapeutics in 2011 and led the company from start-up through its NYSE listing and the approval and launch of Zynlonta, a treatment for blood cancer. He stepped down as CEO in May 2022.

Chris was also Co-Founder and Chief Executive Officer of Spirogen Ltd, leading the company through its acquisition by AstraZeneca in 2013.

He holds a DPhil from the University of Oxford and an MBA from IMD Business School in Switzerland, 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 as Chief Executive Officer in January 2023. He leads the company’s strategy to advance and commercialise high temperature superconducting (HTS) and fusion energy technology.

He oversees a team of more than 300 people spanning science, engineering, manufacturing and commercial functions, working with customers and partners to develop superconducting technologies, manufacturing capabilities and supply chains for a new generation of HTS magnet and power systems.

Warrick brings extensive leadership experience from a 24-year career at Rolls-Royce, where he held a series of senior operational roles, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

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David Kingham

Dr David Kingham

Founder and Senior Advisor

As one of the co-founders of Tokamak Energy in 2009, Dr David Kingham has played a central role in shaping the company’s strategy, technology development and growth. He served as CEO from 2009 to 2017, leading multiple investment rounds and establishing the foundations for the company’s fusion energy and high temperature superconducting (HTS) technology programmes.

During his tenure as CEO, Tokamak Energy developed and tested ST25-HTS, the world’s first tokamak to use exclusively high temperature superconducting magnets, and grew to a team of 50 people. David also initiated the ST40 programme, which went on to achieve a plasma ion temperature of 100 million degrees, and helped establish the company’s HTS magnet capability, laying the foundations for today’s leading superconducting capabilities.

As Senior Advisor, David continues to support the company’s leadership team, strategic development and long-term vision.

Before founding Tokamak Energy, David was CEO of Oxford Innovation, a company providing innovation support services and workspace for high-technology businesses. He holds a PhD in Physics from the University of Cambridge.

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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. He has more than 30 years of international experience in the energy sector, spanning operations, major projects, engineering and technology development.

Erik retired from Shell in 2018, having served as UK Country Chair and Executive Vice President, Downstream Technologies. During his career at Shell, he led global technology, engineering and project delivery organisations, established the company’s technology campus in Bengaluru, India, and oversaw businesses including catalysts, licensing and biofuels technology.

Before joining Shell in 2002, Erik spent 18 years in the oil and gas industry in major project leadership and management consulting, including as Vice President, Energy and Utilities at Cap Gemini Ernst & Young. He advised leading energy companies on operational performance and helped deliver utility privatisations across Europe.

Erik mentors technology start-ups through Imperial College London’s IVMS programme. He holds an MBA from Cranfield School of Management and a BSc (Hons) in Electrical Engineering from the University of Southampton, and is a Fellow of the Energy Institute.

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David Gray CBE

Non-Executive Director

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

David brings extensive experience across the energy, infrastructure and financial sectors. He spent 30 years in financial markets, primarily with HSBC, where he specialised in the energy sector and advised on major transactions, including the privatisations of British Gas and the UK electricity industry.

He is Chair of Mutual Energy, owner and operator of strategic gas and electricity infrastructure linking Northern Ireland and Great Britain, and Chair of the Energy Innovation Centre, which helps accelerate innovation across the energy sector.

David previously served as Chair of the Gas and Electricity Markets Authority (GEMA), the governing board of Ofgem, from 2013 to 2018. Earlier, he was Ofgem’s Managing Director, Networks, leading the regulation of Great Britain’s gas and electricity networks.

He has also advised the UK Government on the economic regulation of airports, led an independent review of Ofwat, and served as a Non-Executive Director of the Civil Aviation Authority 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 as Chief Executive Officer in January 2023. He leads the company’s strategy to advance and commercialise high temperature superconducting (HTS) and fusion energy technology.

He oversees a team of more than 300 people spanning science, engineering, manufacturing and commercial functions, working with customers and partners to develop superconducting technologies, manufacturing capabilities and supply chains for a new generation of HTS magnet and power systems.

Warrick brings extensive leadership experience from a 24-year career at Rolls-Royce, where he held a series of senior operational roles, 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 is a Non-Executive Director of Tokamak Energy and leads Dorilton Ventures, investing in advanced technology companies with the potential to transform major industries.

With more than 20 years of experience across venture capital, public markets and private investing, Daniel brings expertise in company growth, capital allocation and commercial strategy. Prior to Dorilton Ventures, he held investment roles at Lehman Brothers, Deutsche Bank and Eton Park Capital Management.

Daniel holds an AB from Princeton University, was a Fellow at the Johns Hopkins-Nanjing Center for Chinese and American Studies, and earned an MBA from Harvard Business School.

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Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy as Chief Executive Officer in January 2023. He leads the company’s strategy to advance and commercialise high temperature superconducting (HTS) and fusion energy technology.

He oversees a team of more than 300 people spanning science, engineering, manufacturing and commercial functions, working with customers and partners to develop superconducting technologies, manufacturing capabilities and supply chains for a new generation of HTS magnet and power systems.

Warrick brings extensive leadership experience from a 24-year career at Rolls-Royce, where he held a series of senior operational roles, most recently serving as Chief Procurement Officer for the Civil Aerospace division.

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Warrick Matthews

Warrick Matthews

Chief Executive Officer

Warrick Matthews joined Tokamak Energy as Chief Executive Officer in January 2023. He leads the company’s strategy to advance and commercialise high temperature superconducting (HTS) and fusion energy technology.

He oversees a team of more than 300 people spanning science, engineering, manufacturing and commercial functions, working with customers and partners to develop superconducting technologies, manufacturing capabilities and supply chains for a new generation of HTS magnet and power systems.

Warrick brings extensive leadership experience from a 24-year career at Rolls-Royce, where he held a series of senior operational roles, 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 joined Tokamak Energy as a Non-Executive Director in May 2023.

After 11 years with Texas Instruments, Warren joined Arm in 1994. He was appointed to the board in 2000 and served as CEO from 2001 to 2013, leading the company’s growth into the world’s leading semiconductor intellectual property licensing business.

In 2014, Warren joined the board of Rolls-Royce Holdings as a Non-Executive Director and Chair of its Technology Committee. He became CEO in April 2015 and led the company through a period of significant transformation, including the challenges of the Covid-19 pandemic and its transition towards a net-zero future. He retired from Rolls-Royce on 31 December 2022.

Warren was appointed Chair of NATS, the UK’s air traffic services provider, in 2024. He is a Fellow of the Institution of Engineering and Technology, the Royal Society and the Royal Academy of Engineering, a Distinguished Fellow of the British Computer Society, and a Companion of the Chartered Management Institute. He holds a degree in Engineering Science from the University of Oxford, an MBA from Cranfield University, and honorary doctorates from Cranfield, Newcastle, Bath, Derby, Loughborough and Oxford universities.

Warren was appointed CBE in 2014 for services to engineering and technology and was knighted in the 2025 New Year Honours for services to the economy and net zero. Together with his wife, Amanda, he established The Relithan Charitable Trust, which supports science education and the advancement of STEM subjects

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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

Martin Kleppe joined the Tokamak Energy Board as a Non-Executive Director in January 2025.

He is General Counsel to the family office of Dr Hans-Peter Wild, where he oversees legal matters across a broad portfolio of investments and holdings.

Martin has extensive experience in corporate law, mergers and acquisitions, governance and investment transactions, gained through senior legal and advisory roles in private investment, international legal practice and banking. Prior to joining the family office in 2017, he spent more than ten years at an international law firm specialising in M&A, worked within the legal team of an investment bank in Sydney, and served as a board member of a real estate company.

Martin holds a law degree and a Doctor of Law from the University of Cologne.

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Dr Ross Morgan

Managing Director of Fusion
President, Tokamak Energy K.K.

Dr Ross Morgan is President of Tokamak Energy K.K. and Managing Director of Fusion. Since joining Tokamak Energy in 2016, he has been instrumental in developing the strategic partnerships that underpin the company’s international growth and commercialisation activities. Most recently, he led the creation of Tokamak Energy K.K. and serves as its President, strengthening Tokamak Energy’s presence in Japan and expanding relationships across one of the world’s leading advanced technology markets.

As Managing Director of Fusion, Ross leads Tokamak Energy’s fusion division, providing advanced fusion technologies alongside specialist engineering, systems integration and operational expertise to industry and government fusion programmes worldwide. The division’s capabilities are underpinned by ST40, the world’s highest-field spherical tokamak, which was designed, built and is operated by Tokamak Energy as a world-class platform for developing and validating next-generation fusion technologies and expertise.

Ross holds a BSc and PhD in Chemistry from the University of Bristol. He began his career in plasma systems at the Culham Centre for Fusion Energy and has since held commercial leadership roles at AEA Technology, Accentus plc and CompactGTL.

With nearly three decades of experience in technology commercialisation, he continues to develop the partnerships and opportunities that support Tokamak Energy’s growth around the world.

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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 a distinguished 19-year career at Rolls-Royce, where she held a series of senior technical leadership positions. Most notably, she spent seven years as Chief Engineer in the civil aerospace division, becoming the first woman to serve as Chief Engineer for a major engine programme in the company’s more than 100-year history.

A Fellow of the Institution of Mechanical Engineers since 2015, Itxaso was awarded the inaugural Sir Ralph Robins Medal for Excellence in Engineering Leadership by the Royal Aeronautical Society in 2019.

Originally from Bilbao, Spain, Itxaso now leads Tokamak Energy’s technology strategy and execution as the company advances the commercialisation of fusion energy and high-temperature superconducting (HTS) technologies. She is passionate about developing technologies that can accelerate the transition to a cleaner energy future and unlock new capabilities across multiple industries, helping to turn Tokamak Energy’s scientific and engineering leadership into long-term commercial success.

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Christian Lowis

General Counsel and Company Secretary

Christian Lowis joined Tokamak Energy as the company’s first General Counsel in 2023. He brings more than 25 years of legal and commercial experience from both private practice and industry. Prior to joining Tokamak Energy, he spent nine years at Rolls-Royce, where he served as Chief Counsel for Operations and Procurement in the Civil Aerospace business.

Before moving in-house, Christian spent 15 years in private practice, including as a partner at international law firms Squire Sanders and DWF. He specialised in mergers and acquisitions, joint ventures, fundraisings, stock market listings and corporate governance, advising both publicly listed and privately owned businesses across a range of sectors.

As General Counsel and Company Secretary, Christian leads Tokamak Energy’s legal and governance functions, supporting the company’s commercial growth, strategic partnerships and international expansion. He oversees intellectual property, corporate transactions and regulatory matters, helping to protect and maximise the value of Tokamak Energy’s world-leading fusion energy and high-temperature superconducting (HTS) technologies as they progress towards commercial deployment

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Dr Michael Ginsberg

President, Tokamak Energy Inc.

Dr Michael Ginsberg is President of Tokamak Energy Inc., leading the company’s growth and commercial activities in the United States. Since joining in 2023, he has been responsible for building strategic partnerships and expanding market opportunities for Tokamak Energy’s fusion energy and high temperature superconducting (HTS) technologies.

Michael has almost two decades of experience developing and commercialising advanced energy technologies. Before joining Tokamak Energy, he served as Vice President of Technology at Avina Clean Hydrogen, where he led system integration and project execution for large-scale green hydrogen projects and supported the company’s capital raising activities. He previously held the role of Vice President of Energy Transition at Bowman Consulting Group, helping to grow its energy business and advising on strategic acquisitions. His earlier experience includes work with the U.S. Department of State and the UC Berkeley EcoBlock community microgrid project. He is also the author of two books on renewable energy.

Michael holds a Doctor of Engineering Science from Columbia University. He is focused on accelerating the commercial deployment of transformative energy and superconducting technologies and strengthening Tokamak Energy’s partnerships across government, industry and research organisations throughout the United States.

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Dr Liam Brennan

Director, TE Magnetics

Dr Liam Brennan is Director of TE Magnetics, Tokamak Energy’s high temperature superconducting (HTS) technology business. He is responsible for the company’s strategy to commercialise HTS technologies and expand their deployment across multiple industries.

Before joining Tokamak Energy, Liam spent eight years at the UK Research and Innovation Science and Technology Facilities Council (STFC). As Head of Technology Transfer and Associate Director, he led teams responsible for identifying commercial opportunities from world-class research, overseeing technology licensing, intellectual property development, spinout creation and industrial partnerships.

Liam holds a PhD in Biosystems Engineering from University College Dublin. Combining a background in research commercialisation with a passion for turning innovation into real-world impact, he now leads TE Magnetics as it brings superconducting technologies to market for applications including fusion energy, power systems, scientific research, and advanced transportation.

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Dr Mike Porton

Company Chief Engineer

Dr Mike Porton joined Tokamak Energy as Chief Engineer in 2022 and leads the design, development and delivery of the company’s fusion devices and engineering programmes. He is responsible for the engineering capabilities, technologies and test facilities that underpin Tokamak Energy’s work with customers, partners and research organisations around the world.

Before joining Tokamak Energy, Mike spent almost a decade at the UK Atomic Energy Authority (UKAEA). He served as Chief Engineer of the Joint European Torus (JET), where he led preparations for record-breaking fusion campaigns, before becoming UKAEA Chief Engineer with responsibility for the safety, effectiveness and impact of engineering across the organisation’s fusion facilities and programmes.

Michael holds a PhD in Engineering from Cranfield University and an MSc in Nuclear Physics and Engineering from the University of Birmingham. Recognised for his engineering leadership and technical innovation, he was awarded the Royal Academy of Engineering’s 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

Jane Shannon is Director of People and Engagement at Tokamak Energy, where she leads the company’s people strategy, talent development and employee engagement activities. She plays a key role in supporting the company’s growth and ensuring it continues to attract, develop and retain the skills needed to deliver its fusion and high temperature superconducting (HTS) technology programmes.

Jane brings extensive experience from senior HR and people leadership roles across both the public and private sectors. Before joining Tokamak Energy, she was Human Resources Director at Corndel and previously served as Head of Learning and People Development at G4S. Earlier in her career, she spent a decade at Her Majesty’s Courts and Tribunals Service (HMCTS), including as Head of Learning and Development.

Alongside her responsibilities at Tokamak Energy, Jane co-chairs the UK Fusion Skills Council, a collaboration between the UK Atomic Energy Authority (UKAEA), industry and academia focused on developing the skills and talent pipeline needed to support the growth of the fusion sector.

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Arman Gökgöl-Kline

Non-Executive Director

Arman Gökgöl-Kline joined the Board of Tokamak Energy as a Non-Executive Director in October 2026. He is a Partner at Ruane Cunniff, where he serves on the firm’s Management Committee, sits on the Sequoia strategy Investment Committee, and is co-Portfolio Manager of the Willow Strategy.

Arman joined Ruane Cunniff in 2002 after working at Merrill Lynch in Alternative Investments and Global Equity Research. He holds a BA in Economics and Biology from Colby College and brings extensive experience in investment analysis, capital allocation, and long-term company growth.

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