Bristol-based deep tech firm Astral Systems has secured a £23m Series A round led by Mercia Ventures.
Astral Systems has created and commercialised a multi-state fusion technology – a new type of nuclear fusion that could tackle the fragile supply chain and potential global shortages of medical radioisotopes that impact cancer diagnosis and treatments.
With the Series A capital and its new facility being developed at the former Berkeley Power Station, the firm intends to run multiple next-generation compact fusion reactors at full capacity by the end of 2026.
Astral Systems says the performance of these compact reactors enables its goal of establishing the highest-flux, highest-intensity, continuously operable private fusion volumetric neutron source in the world.
In addition to Mercia Ventures, the investment round is supported by tech investors including Tees River, Daphni and Blast Club, alongside previous investors Speedinvest and Playfair.
This first close financing supports plans to bring critical medical isotopes to market by early 2027, scaling the production of its modular multi-state fusion (MSF) reactors, and advancing fusion research.
“We are rewriting how we approach fusion and, in doing so, redefining what it means to be a fusion company,” says Talmon Firestone, CEO and co-founder of Astral Systems.
“This is evident in our novel technology and its near-term applications in modern medicine, as well as facilitating the search for hybrid energy. With this new funding, we can accelerate our ambition of building a profitable, impactful fusion business, and build on the momentum of the past 12 months with the backing of our investors.”
