Barclays supports the development of commercial fusion power in the UK
London – Barclays today announces it is supporting the UK Infinity Fusion Consortium, a private sector-led collaboration established to advance the development of a commercial fusion power plant project in the UK.
Barclays provides the global fusion market with its expertise in energy, infrastructure, project finance, capital markets and commercial frameworks, and will bring that experience to this consortium. Fusion is a complementary technology alongside nuclear fission, including gigawatt-scale, small modular reactors and next-generation reactor technologies.
The UK Infinity Fusion Consortium was established in May 2026 by Type One Energy, Tokamak Energy and AECOM to help develop the UK’s fusion value chain and attract the investment needed to deliver a commercial fusion power plant. It is complementary to the UK Government’s Fusion Strategy and the STEP programme, the Government’s flagship fusion project. Barclays and the consortium companies are members of the Sustainable Markets Initiative, founded by His Majesty King Charles III to accelerate the transition to a sustainable economy.
C.S. Venkatakrishnan, Group Chief Executive at Barclays, said: “Fusion has the potential to become an important part of a secure, resilient and low-carbon energy system. Barclays is pleased to work with fusion related companies and to support the UK Infinity Fusion Consortium as part of our broader engagement with clients and partners working to advance sustainable innovation, including through the Sustainable Markets Initiative. We look forward to continuing to share our sector perspective and experience with fusion groups in the UK as the consortium helps build momentum behind the UK’s fusion ecosystem and the Government’s advanced energy ambitions.”
Chris Mowry, Chief Executive Officer, Type One Energy, said: “The UK Infinity Fusion Consortium brings together technology, engineering and project delivery capabilities that can help accelerate a private sector-led pathway for fusion commercialisation in the UK. Barclays’ support, including its financial markets and infrastructure expertise, will be valuable as the consortium works to engage the broader UK value chain, attract private capital and align with the UK Government’s fusion ambitions.”
About Barclays
Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients, and communities. For further information about Barclays, please visit home.barclays
About UK Infinity Fusion Consortium
The UK Infinity Fusion Consortium was established in May 2026 to accelerate development of a commercial fusion power plant project in the United Kingdom. With the support of the UK government, the consortium aims to develop a stellarator-based fusion power plant project that is commercially credible, deployable using existing enabling technologies, and capable of attracting private capital – consistent with the goals of the government’s recently announced UK Fusion Strategy and complementary to the STEP Fusion programme. The consortium aims to have a commercial fusion power plant ready for operation in the UK by the mid-2030s. Current members of the group include Type One Energy, Tokamak Energy and AECOM.