China Fusion Energy/中国聚变公司

Founded: December 2023 (Preparatory) & July 2025

China Fusion Energy Co., Ltd. (CFEC; 中国聚变能源有限公司) is a CNNC-controlled company established to serve as the principal vehicle for China’s fusion-energy engineering, industrialization, financing, and coordination activities.  CNNC led the creation of the Controlled Nuclear Fusion Innovation Consortium, comprising 24 state-owned enterprises, research institutes, and universities. At the consortium’s launch in Chengdu on 29 December 2023, China Fusion Energy Co., Ltd. (Preparatory) (中国聚变能源有限公司（筹）) was unveiled as the planned specialized fusion company.

The existing CNNC subsidiary was renamed China Fusion Energy Co., Ltd. in September 2024 and relocated to Shanghai. In July 2025, CFEC was formally inaugurated in Shanghai, signed a new fusion-innovation-consortium agreement, and completed the principal arrangements for a large capital increase and shareholder expansion. The transaction raised the company’s registered capital from RMB 3.531 billion to RMB 15 billion, with CNNC retaining a 50.35% interest and a group of state-owned and strategic investors taking minority stakes.

CFEC is pursuing a magnetic-confinement tokamak pathway. Its stated development sequence is an experimental/pilot reactor, followed by a demonstration reactor and ultimately a commercial fusion power plant. The company’s remit includes overall system design, technology validation, digital R&D, and the development of technology-research and capital-operation platforms to support fusion engineering and commercialization.