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CAS Ion Completes RMB 600 Million First-Round Financing, Fusion-Derived Technology Industrialization Enters a New Stage

Recently, CAS Ion completed its first round of market-oriented equity financing, with a total amount of RMB 600 million. This round of financing was jointly participated in by CMBI, Wanneng Capital, Qianhai Ark, CITIC Construction Investment Capital, China-Belgium Fund, SMIC Juyuan, Oriental Fortune Capital, Xi'an High-Tech Investment, Ginkgo Valley Capital, Jinju Investment, Wofu Venture Capital, and Hua'an Jiaye. CAS Ion, in accordance with its own business development pace, coordinated and determined the scale of this round of fundraising, and completed all processes including project matching, due diligence interviews, agreement signing, and capital delivery within 3 months. This financing received an enthusiastic market response, with numerous investment institutions actively expressing investment intentions, fully confirming the capital market's recognition of the company's core technology, industrialization capability, and long-term growth...

2026-09-30

CGN's 33 in-operation nuclear power units achieve RMB-denominated pricing and settlement for operational period insurance

On September 10, the "CGN In-Service Nuclear Power Plant Operational Period Insurance Project Co-Insurance Agreement" was signed in Shenzhen. The agreement achieves RMB-denominated pricing and settlement for major types of nuclear power plant operational period insurance, changing the convention of China's nuclear insurance market's over thirty years of primarily relying on foreign currency transactions. Nuclear insurance is an important type of insurance for ensuring the safe and stable operation of nuclear power units. Due to the enormous insured amount of a single policy, it typically requires joint underwriting by hundreds of insurance companies both domestically and internationally, and is regarded by the insurance industry as one of the most special and complex types of insurance. Since China's first nuclear power plant operational insurance policy——the Daya Bay Nuclear Power Plant operational insurance policy——was issued in 1993, China's nuclear power industry has long followed mature foreign models...

2026-09-11

Nova Fusion Completes RMB 1.2 Billion Pre-A Series Financing

Nova Fusion Energy Technology (Shanghai) Co., Ltd. recently announced the completion of its Pre-A series financing totaling RMB 1.2 billion, comprising both the Pre-A round and Pre-A+ round. The company stated that within 16 months since its establishment, it has completed a RMB 500 million angel round, a RMB 700 million angel+ round, and this round of financing, bringing cumulative fundraising to RMB 2.4 billion with a post-investment valuation exceeding RMB 10 billion. In this round, Meituan Longzhu and Hillhouse Ventures continued their participation, while Lenovo Capital and Guozhong Capital joined as new strategic investors. The company stated that the funds from this round will primarily be used for new device construction, key technology iteration, industrial base preparation, and subsequent fusion energy output verification efforts. Nova Fusion focuses on field-reversed configuration (FRC) small...

2026-08-31

China Isotope & Radiation Plans to Invest RMB 400 Million in Zhejiang Nuclear Technology Application Industry Fund

China Isotope & Radiation Corporation announced on August 28 that its board of directors has approved entering into a partnership agreement with CNNC, CNNC Capital, CNNC Fund, National Industry Investment Fund, Zhejiang Venture Capital Guidance Fund, Jiaxing Changchuang Industrial Investment, and Haiyan County State-owned Capital Investment to jointly establish CNNC (Zhejiang) Nuclear Technology Application Industry Investment Fund Partnership (Limited Partnership). According to the announcement, the fund will be registered in Jiaxing City, Zhejiang Province, with partners intending to subscribe to a total capital contribution of RMB 3 billion. Among them, China Isotope & Radiation plans to contribute RMB 400 million from internal resources, accounting for 13.33% of the fund's total subscribed capital; CNNC Fund, as the general partner, plans to contribute RMB 30 million, accounting for 1%; the National...

2026-08-29

StarRing Fusion Completes RMB 880 Million Series A++ Financing to Advance Fusion Device and Key Technology Engineering

StarRing Fusion recently announced the completion of a new Series A++ financing round, raising RMB 880 million. This round was jointly invested by Shenzhen Capital Group, Shendan Venture Capital, ABC Capital, BOCOM Investment, GGV Capital, Yongxin Ark, Keke Capital, Advantage Capital, and other institutions, with existing shareholder Shanghai Science and Technology Innovation Group's intellectual property fund and other institutions continuing to follow on. The company stated that the proceeds from this round, together with the previous Series A and A+ financing, will be used for the construction of the Shanghai Jiading experimental base, the construction and operation of the NTST negative-triangularity spherical tokamak, the design and construction of the CTRFR-1 "StarRing One," and the continued engineering advancement of key technologies including fusion-grade high-temperature superconducting magnets and AI-based plasma control...

2026-08-08