Beijing ENN Fusion Energy Science and Technology Co., Ltd. (ENN Fusion), a company focused on proton-boron (p–¹¹B) fusion, has completed its first external financing round, a Pre-A round, with a post-money valuation of RMB 10.6 billion. The financing makes ENN Fusion the highest-valued private fusion energy company in China.

The round attracted top‑tier investors including Longxin Capital (lead), CASSTAR and MPC (co‑leads), alongside CDH Investments, Cathay Capital, SAIC Hengxu Capital, Legend Star, China Merchants Zhiyuan, and E‑Town Capital. Their participation underscores strong market confidence in ENN Fusion's technology roadmap, world‑class performance benchmarks, and exceptional R&D capabilities—marking a pivotal step toward the commercial realization of hydrogen‑boron fusion.

The financing reflects strong recognition from leading investment institutions of ENN Fusion’s proton-boron fusion technology, its world-leading performance parameters, and its large-scale, highly skilled R&D team. It also marks an important step toward accelerating the commercialization of proton-boron fusion energy.

The proceeds will be used to support the construction and commissioning of Helong-2 (EHL-2), ENN Fusion’s third-generation spherical torus proton-boron fusion facility, advance the development and iteration of core technologies, and further expand its team of top-tier talent. These efforts will accelerate the commercialization of spherical torus proton-boron fusion technology.

As the core facility of ENN Fusion’s spherical torus fusion program, Helong-2 is designed to tackle key scientific and engineering challenges related to energy gain in proton-boron fusion and to establish a solid technological and engineering foundation for its commercialization. The facility is targeted for completion by the end of 2027, with ENN Fusion aiming to achieve its first major proton-boron fusion energy milestone by 2030.