Xeonova

Xeonova (星能玄光) is a Chinese controlled nuclear fusion startup founded in March 2024 through technology transfer from the University of Science and Technology of China (USTC), with core technology rooted in professor Sun Xuan's "advanced field-reversed configuration fusion pathway" developed over more than a decade . The company is led by chairman Sun Xuan, who outlined its 2026 development roadmap at a strategic planning meeting in early 2026 .

The startup has moved quickly on both funding and technical milestones. It raised approximately 300 million RMB in a Pre-A round led by Ant Group in late 2025, with follow-on investors including Yinsan Capital, Zijin Mining, and Heart Capital . Heart Capital, an early backer, cites Xeonova's compact linear FRC route as aligned with "low-cost iteration" logic analogous to SpaceX, and notes the team as "the fastest-developing linear fusion company in China" . In February 2026, Xeonova achieved first plasma discharge on its "Xingneng-1 FLAME" advanced field-reversed mirror device, which drew coverage from CCTV-2's *Economic Half-Hour* following a *Focus Interview* report in late December 2025 . Heart Capital portfolio company rankings later recognized Xeonova among China's top carbon-neutral investment cases .