Frontline | ENN Fusion hosts the 4th Hydrogen-Boron Fusion Seminar, the enterprise's valuation has exceeded 10 billion yuan.

On July 21, the 4th Hydrogen-Boron Fusion Symposium hosted by Beijing ENN Fusion Energy Technology Co., Ltd. (ENN Fusion for short) kicked off in Langfang, Hebei Province.

Scene of the 4th Hydrogen-Boron Fusion Symposium

As one of the earliest private enterprises in China to develop commercial fusion energy, ENN Group launched its compact fusion R&D targeting "non-neutron, low-cost, commercialization" in 2017, based on the R&D upgrade from low-carbon technologies to zero-carbon technologies, with a focused layout on the spherical torus hydrogen-boron fusion technology route. This technical route features advantages such as cleanliness and safety, easily accessible fuel, and low cost, boasting great commercialization potential.

In 2023, ENN Group became a member of the National Controlled Nuclear Fusion Innovation Consortium. In 2026, it began participating in the International Tokamak Physics and Engineering Activities (ITPEA), becoming the first private enterprise in China and the second worldwide to join ITPEA. Meanwhile, it is also the private enterprise with the largest investment and the most leading technical parameters in China. It has accumulated an investment of over 4 billion yuan so far, and has built two generations of spherical torus devices, "Xuanlong-50" and "Xuanlong-50U".

"Xuanlong-50U" is the only fusion device worldwide that has fully met all its engineering design specifications. Since 2025, it has successively achieved a series of major breakthroughs, including megaampere-level hydrogen-boron plasma discharge, 1.2 Tesla strong magnetic field lasting for the order of seconds, hydrogen-boron plasma high-confinement mode discharge, and electron temperature exceeding 100 million degrees. Its comprehensive parameters have reached the world's highest level, filling the domestic gap in this technical route.

At the beginning of July, ENN Fusion just completed its first round (Pre-A) of financing, with a post-investment valuation of 10.6 billion yuan, making it the highest-valued private enterprise in China's fusion sector to date. The financing proceeds will be used for the construction and commissioning of the "Helong-2" device, the iteration of core technologies, and the expansion of high-end talent teams.

As the core device in the commercialization path of hydrogen-boron fusion, the "Helong-2" device is designed to overcome key technical and engineering challenges in hydrogen-boron fusion energy gain and systematic technologies, so as to consolidate the technical and engineering foundation for the commercialization of hydrogen-boron fusion. The device has entered the engineering construction stage, and is scheduled to be completed and put into operation by the end of 2027.

In accordance with its plan, ENN's hydrogen-boron fusion commercialization adopts a "three-step" strategy: first, to achieve hydrogen-boron fusion reaction in 2026; second, to realize the verification of hydrogen-boron thermonuclear reaction in 2030; third, to enter the commercial demonstration stage in 2035 and realize low-cost power generation.

Against the backdrop of the global energy transformation wave, controlled nuclear fusion has become a strategically competitive track for all countries. Nearly 40 countries around the world have introduced special R&D strategies for fusion, and the global fusion industry presents a landscape of development featuring both competition and cooperation. The hydrogen-boron fusion technology route is one of the important paths among them. The Hydrogen-Boron Fusion Symposium hosted by ENN has been held since 2023, and this year marks its 4th session.

It is learned that the theme of this symposium is "Gathering Wisdom for Hydrogen-Boron, Building a Win-Win Ecosystem". Its covered contents include research directions such as hydrogen-boron nuclear reaction physics, hydrogen-boron plasma physics, hydrogen-boron plasma diagnostics, hydrogen-boron fusion technologies and materials, innovation and applications, with hundreds of experts and scholars from more than 50 scientific research institutions across 11 countries participating in the event.

At this symposium, representatives of the ENN Fusion team, Dr. PENG Yuankai, Dr. SHI Yuejiang, Dr. LIU Bing, and Dr. GUO Dong, respectively shared the latest achievements, including ENN's technological innovations in spherical torus hydrogen-boron fusion, the experimental progress of "Xuanlong-50U", the theoretical and experimental explorations of hydrogen-boron fusion, and the development of diagnostic technologies for "Xuanlong-50U".