Xinghe Fusion Energy🇨🇳
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Xinghe Fusion Energy, founded in November 2025 and headquartered in Hefei, Anhui, is a private commercial fusion developer working on magnetically confined plasmas. Co-founded by CEO Dong Wei and CTO Lu Zhiyuan, it is one of the few Chinese startups building a stellarator rather than a tokamak.
Its route pairs high-temperature superconducting (HTS) magnets with an advanced quasi-isodynamic (QI) configuration. A stellarator confines the plasma with external three-dimensional coils and needs no large toroidal plasma current to hold the field shape, which removes the disruption risk that limits tokamaks and suits the long steady-state pulses fusion needs for grid power. Xinghe organises its research as an integrated system of advanced superconducting stellarator, AI control and additive manufacturing.
Three machines progress in parallel. Xinghe-0, the experimental validation platform, is in component fabrication and assembly, targeting first plasma by the end of 2026 to demonstrate steady-state operation measured in hours and, as the stated goal, beyond 24. Xinghe-1, a fully HTS stellarator, is in engineering design and construction to validate the next-generation QI field configuration and full HTS magnet technology. Xinghe-2 carries core-coil and other key-component research.
A first round of RMB 830 million closed on 30 June 2026 at a post-money valuation near RMB 3 billion, co-led by 24 institutions, and the largest first round recorded in China's private commercial fusion sector. The roadmap is to match the overall technical and engineering level of the Max Planck Institute for Plasma Physics' W7-X by 2030, push toward ignition between 2030 and 2035, and pursue grid-connected commercial generation after 2035.
TECHNOLOGY
High-temperature superconducting magnets combined with an advanced quasi-isodynamic (QI) stellarator configuration. The stellarator confines the plasma with external three-dimensional magnetic fields and does not depend on a large toroidal plasma current to sustain the field structure, so it is naturally suited to long steady-state operation and carries no risk of a major plasma disruption. The company runs a three-part research system - advanced superconducting stellarator, AI, and additive manufacturing - with in-house coverage of coil design, magnet fabrication, AI-based control and engineering manufacturing, and separate physics and engineering teams alongside an AI-for-fusion team.
MARKET POSITION
Hefei was chosen for the fusion supply chain around it: magnet, power supply, heating, cryogenics, vacuum and diagnostic suppliers are largely located within about 30 km, alongside the talent pool and full-chain support of the USTC Silicon Valley platform. Near term the company's output is device validation and intellectual property; commercial generation is planned only after 2035, when grid-connected electricity becomes the product.
FUNDING
FOUNDERS & TEAM
CEO Dong Wei graduated from Fudan University's Department of Electronic Engineering in 2004, spent twenty years in the semiconductor industry at STMicroelectronics and Freescale Semiconductor, and has sixteen years of serial-entrepreneurship experience; he co-founded Xinghe in late 2024 at Hefei's USTC Silicon Valley platform. CTO Lu Zhiyuan, the registered legal representative, worked for years at the Institute of Plasma Physics of the Chinese Academy of Sciences and is one of China's few stellarator engineering specialists, covering three-dimensional magnetic configuration design, magnet system simulation and steady-state confinement control.
CUSTOMERS & USE CASES
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