Oxford's First Light achieves nuclear fusion world first

An Oxford Spinout has achieved a world first in nuclear fusion technology.

First Light have recorded the first instance of projectile fusion. The projectile fusion breakthrough is, stated First Light, the fastest most economic way to nuclear reaction technology. The development has sent shares in the company soaring.

The innovative tech methodology involves firing a projectile at hypersonic speed, causing collapsing shockwaves which increase pressure levels to the extent they cause atomic fusion of deuterium fuel pellets. This is the first ever projectile based approach to achieving nuclear fusion.

The implications for energy provision can not be over stated.

The announcement was made by IP Group who hold Yarnton based company First Light in their portfolio.

In a statement, First Light confirmed that it had achieved fusion which has been independently validated by the UK Atomic Energy Authority (UKAEA). The achievement was made having spent less than £45m, and with a rate of performance improvement faster than any other fusion scheme in history, it said.

IP Group said that its preliminary assessment, based on the lower end of the range, implies a carrying value of the asset that will generate an initial net fair value gain of at least £57m, or about 5p a share. As at December 31 2021, IP Group's undiluted beneficial holding of 27.4% in First Light was valued at £57.3m.

IP chief executive Greg Smith said: "Following the success of Oxford Nanopore, Ceres Power and others, this is another example of IP Group having helped establish a business with the potential to have enormous impact and supporting it over many years to a significant inflexion point.

"In this case, we helped found First Light in 2011 with the belief that its differentiated technology had the potential to provide a much cheaper route to fusion energy."

Read more - First Light raise £33 million in funding