Hephaestus is a London-based fusion energy company founded in 2019 that develops rare-earth-free high-temperature superconducting (HTS) magnets, discovered through its MaDi-AI materials platform and validated by the UK National Physical Laboratory. Its reactor designs pair these magnets with negative triangularity plasma geometry, which its AI plasma solver identified as a low-cost path to fusion; it completed Anvil 0, the first tokamak designed for negative triangularity, in 2024 and is targeting a net-energy-gain demonstration reactor by 2030. The company operates from London and Rome with a 70,000 sq ft production facility in New Jersey.
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Oct 21, 2026
Latest raise
Funding activity · 1 round
Oct 21, 2026
$17.2M
Series A
Led by CiRi Ventures
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