The British government is allocating £20m (€23m, $26m) to kickstart a British nuclear fusion investment fund called Starmaker One which is expected to result in £100m being invested the UK’s growing fusion energy industry.

The Department for Energy Security and Net Zero (DESNZ) said in a statement on 3 April that the move represents a “world first” government partnership with a fusion private venture capital fund and will keep Britain at the forefront of the global fusion race.

Starmaker One is a British private fusion investment fund that will help fusion businesses and startups in the sector grow and commercialise at scale.

The DESNZ said the fund has potential to raise between £100m and £150m overall, including the £20m from DESNZ, for investment into fusion-related technology.