The strategic long-term industrial partnership is a demonstration of how two Nordic companies combine their respective strengths in science and industry to reach an ambitious shared goal – to reduce society’s dependence on fossil fuels while meeting the future growing energy demand.

“We are thrilled to welcome Henrikki Talvitie, CEO of St1, to our board of directors. As our strategic long-term partner and the largest institutional shareholder, Mr. Talvitie brings invaluable expertise that will help us on our journey toward fossil-free energy independence. Together, we will work to secure a successful execution of our elaborate roadmap toward our vision,” says Erik Odén, Founder and Chairman of Novatron Fusion Group. 

The partnership was formed shortly after an announcement that the first prototype of NFG’s unique NOVATRON fusion solution, a technology with disruptive potential, was assembled and the system integration tested. Although NFG will continue running experiments with the first prototype, N1, it is in parallel preparing the next phase of its roadmap where long-term partnerships will be key.

“St1 operates in an industry that needs to transform and has a proven track record of genuinely wanting to accelerate the reshaping of the energy market. As we start preparing for industrialisation, we need to secure these types of partners that can contribute with experience, an extensive global network, and a strong position in the energy market,” says Peter Roos, CEO of Novatron Fusion Group.

St1, an energy transition company, searches for game-changing solutions that significantly reduce carbon emissions. As lead investor, St1 will provide long-term value as well as business, industrial, and regulatory knowledge for NFG’s roadmap execution to commercialize fusion energy.

“To reach our vision of being the leading producer and seller of CO2-aware energy, we will continue to invest in our value chains and ongoing projects to remain at the forefront of the energy transition. At the same time, St1 also needs to invest in technologies that are not yet commercially available, as nearly 50 percent of the carbon emission cuts required by 2050 will rely on innovations currently in the demonstration or prototype phases. We believe that NFG has a game changing formula and as an owner with a long-term mindset, we are excited over this opportunity to help accelerate the work towards limitless fossil-free energy,” says Henrikki Talvitie, CEO of St1. 

By jointly investing in the disruptive NOVATRON technology, the goal with the industrial partnership is not only to support energy resilience in the Nordics, but also to make a positive impact on a global scale by securing a leading position in providing fossil-free, safe, affordable, and abundant energy for all.

In addition to lead investor St1, the oversubscribed funding round of €10 million in equity had participation from both new investors, including TomEnterprise, Unit E Limited and Axon Partners Group, and existing investors: Climentum Capital, Santander InnoEnergy Fund, Granitor and Industrifonden. As a collective, they build a solid base of competence and network propelling Novatron Fusion Group into a new exciting phase.

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