Superconductors made by Faraday Factory helped to achieve first plasma in a levitated dipole fusion prototype

Faraday Factory Japan, the world's largest manufacturer of high-temperature superconductors, announces that its superconductor tape was successfully used to build magnets for a novel fusion prototype that has recently achieved first plasma

TOKYO, April 2, 2025 /PRNewswire/ -- Faraday Factory Japan supplied high temperature superconductor tape for magnet coils used in OpenStar's magnet prototype with a unique engineering design. On its path to proving the levitated dipole technology, New Zealand-based fusion power developer OpenStar Technologies built a machine with a battery-powered HTS dipole magnet inside. This superconducting magnet named 'Junior', suspended with a magnetic force within a vacuum chamber, maintains an external plasma, which will serve as a media for the fusion reaction to happen. The levitated dipole design eases many of the engineering constraints but requires that its energy source operates onboard the magnet, unattached to the walls of the vacuum chamber.

In October 2024, OpenStar Technologies produced a 300,000°C plasma inside its demonstration device and successfully sustained it for 20 seconds.

Fusion power is a long-sought technology with the potential to decouple energy from resource constraints. Engineering barriers like creating strong magnetic fields confining extremely hot plasma must be overcome in order to enable commercially viable power generation technology. Magnet coils made from high temperature superconductors have proven to be the enabling game-changer for this tough-tech. It's important to note that the development of OpenStar Technologies' first machine took place at an extraordinary fast pace of 2 years on a budget of only $10 million. This important technology validation step was made possible for many reasons, last but not least due to availability of high temperature superconductor tape.

Faraday Factory Japan has been offering market-leading high temperature superconductor products since its start in 2011. A new factory in Zama (Kanagawa, Japan) has an annual output of over 2,500 km, contributing to keeping the fusion industry on a fast track to abundant, reliable and clean fusion power.

Faraday Factory Japan is the world's largest manufacturer of high-temperature superconductors. The company started to operate its new production facility in 2024.

OpenStar Technologies was founded in 2021 in Wellington, New Zealand. Founder and CEO, Ratu Mataira, assembled an elite founding team to revive the levitated dipole concept. OpenStar has since achieved significant milestones in rapid time.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Superconductors made by Faraday Factory helped to achieve first plasma in a levitated dipole fusion prototype

MANILA, Philippines, April 8, 2025 /PRNewswire/ -- Tonik, the first digital bank in the Philippines, has been named a 2025 Endeavor Outlier — placing the company among the top 10% of global high-growth scale-ups in Endeavor's 2,500+ company portfolio across 42 markets.

The recognition affirms Tonik's position as the #1 digital bank in the Philippines for lending monetization, and places it in the company of global neobank unicorns like Nubank, Ualá and Cora — all trailblazers in reimagining financial access in emerging markets.

"This recognition underscores the power of building a lending-first neobank model in a $40B underserved market," said Greg Krasnov, Founder and CEO of Tonik. "We're not just scaling fast — we're scaling with profitability, resilience, and purpose."

Tonik's recognition follows its achievement of outstanding performance milestones:

"Tonik's selection is a milestone not just for Endeavor, but for Philippine fintech," said Manny Ayala, Managing Director of Endeavor Philippines. "They're building one of the most profitable and scalable neobanks in the region — with global relevance."

Tonik's banking license and proprietary AI-powered risk and ops engines give it a massive edge in a 4x underpenetrated consumer lending market.  Tonik's lending-first model drives 5–10x ARPU compared to payments-led competitors and delivers 16x LTV/CAC.

With a capital-efficient path to profitability, a defensible B2B2C moat, and a massive TAM, Tonik is primed for the next phase of breakout growth — and poised to reshape the future of credit in the Philippines.

About Tonik

Tonik is the first digital-only neobank in the Philippines, operating under a full banking license from the Bangko Sentral ng Pilipinas (BSP). Tonik offers loans, deposits, and embedded finance via a mobile-first experience. The company is backed by leading global investors including Mizuho Bank, Insignia Ventures, Peak XV (formerly Sequoia India), and Point72 Ventures.

About Endeavor

Founded in 1997, Endeavor is a global network supporting high-impact entrepreneurs in 40+ markets. Its portfolio companies have generated over $50B in revenues and created more than 4M jobs. The Endeavor Outliers program recognizes the top 10% of this network — companies defining the future of industry and innovation.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Tonik Named to 2025 Endeavor Outliers List - Joining the Global Top 10% of High-Growth Scale-Ups