First Light Fusion has announced a £25m successful first close of its latest funding round.

The inertial fusion energy company said the round was led by UK venture firm East X Ventures and its fusion fund Starmaker One with a significant strategic investment from the UK Atomic Energy Authority (UKAEA).

It was also supported by existing shareholders including IP Group and its Hostplus managed fund. 

The capital will accelerate the commercial development of First Light Fusion’s groundbreaking FLARE Fusion Energy concept – a novel, reactor‑compatible approach to Inertial Fusion Energy, aimed at offering a simpler, lower cost, pathway to fusion energy.