Zheneng Electric to invest $105m in fusion energy

Zhejiang Zheneng Electric Power (SSE:600023) announced its intent to invest approximately 750 million yuan (approximately $105 million USD) to acquire shares in China Fusion Energy via a capital increase. The investment has been approved by the company's board of directors and independent directors, but remains subject to approval by the State-owned Assets Supervision and Administration Commission (SASAC) and further registration procedures. While categorized as a related-party transaction, the investment does not constitute a major asset restructuring. The company cautions investors about potential risks due to the early stage nature of fusion technology and uncertainties surrounding commercialization. The investment aligns with Zheneng Electric's strategic goals in new energy and energy security.