Astral Systems, a Bristol-based fusion technology company, has raised £23 million in a Series A round to accelerate the development of fusion-produced medical isotopes.
The round was co-led by Mercia Ventures and daphni, with participation from Tees River Limited, Speedinvest, and a group of industry and strategic angels.
Founded in 2021 by Talmon Firestone and Tom Wallace-Smith, Astral Systems is developing proprietary Multi-State Fusion technology that uses compact fusion reactors to manufacture medical isotopes. The company also provides high-flux neutron sources for decentralised medical isotope production, nuclear power applications, and other neutron-based uses.
The new funding will be used to scale production, expand the company’s team and facilities, and move its isotope technology closer to clinical use. The raise comes as interest grows in more resilient medical isotope supply chains, an area where shortages have remained a persistent challenge.
The round was co-led by Mercia Ventures and daphni, with participation from Tees River Limited, Speedinvest, and a group of industry and strategic angels.
Founded in 2021 by Talmon Firestone and Tom Wallace-Smith, Astral Systems is developing proprietary Multi-State Fusion technology that uses compact fusion reactors to manufacture medical isotopes. The company also provides high-flux neutron sources for decentralised medical isotope production, nuclear power applications, and other neutron-based uses.
The new funding will be used to scale production, expand the company’s team and facilities, and move its isotope technology closer to clinical use. The raise comes as interest grows in more resilient medical isotope supply chains, an area where shortages have remained a persistent challenge.