Xeonova

About Xeonova

Hefei Xingneng Xuanguang Technology Co., Ltd. (Xeonova) is a Chinese company focused on the commercialization of fusion energy and perovskite photovoltaic technology. The company has developed the Xeonova-1, a field-reversed configuration (FRC) device designed to explore energy loss during plasma compression and test new compression solutions. In early 2025, the company announced it had successfully achieved discharge with the Xeonova-1 device in under two months from installation, setting a new record for fusion device construction time. The initial tests confirmed the successful formation and ejection of the field-reversed plasma into the capture zone.

The company's business model appears to be centered on advancing the research and development of perovskite-based solar cells and fusion energy technologies, positioning itself as a key player in China's renewable energy sector. It targets the broader energy market with its advancements. The firm has attracted significant financial backing from a diverse group of investors. In November 2025, it secured hundreds of millions of yuan in a funding round led by Ant Group, with participation from Zijin Mining Group, Oriza Puhua, and AVIC Trust, among others. This followed an earlier funding round led by China Merchants Venture and CAS Star.