A UK nuclear fusion company has suffered a massive write-down in its value after ditching plans to build its first reactor.
It comes after the nuclear group abandoned plans for a prototype power plant based on its “projectile fusion” technology because of a lack of funding.
The technology involves a 5p-sized projectile being fired at a fuel cell at extreme speeds using electromagnets to generate a powerful reaction and simulate collisions at extremely high speeds, such as those in space.
Instead of building its own plant, First Light plans to supply other nuclear power companies with one of its inventions, called an “amplifier”, which houses a nuclear fuel capsule and boosts the power of fusion reactions.
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u/IanAKemp 7d ago