A half-tonne metal “donut” silently floating in a vacuum chamber in Wellington might sound like science fiction. But as you’ll hear in the latest episode of The Business of Tech, it’s very real – and it could reshape New Zealand’s role in the global race for nuclear fusion.

This week, I sit down with BusinessDesk journalist Greg Hurrell to unpack OpenStar’s dramatic new milestone: levitating a superconducting dipole in a near-perfect vacuum and firing superheated plasma around it. 

It’s a key proof point for the Wellington startup’s radically different approach to fusion, one that flips the dominant tokamak design inside out. Instead of surrounding the plasma with giant magnets, OpenStar suspends a powerful magnet in the centre of the chamber and uses Earth-like magnetic fields to confine the plasma.

​Big ambitions, big interest

Greg and I were in the room at Open Star last week as Prime Minister Christopher Luxon, Regional Development Minister Shane Jones, Infrastructure minister Chris Bishop, investors, scientists and even a representative from the United Arab Emirates watched the demonstration. 

For a company that has only raised a modest $10 million Series A round, hitting this milestone matters. it shows OpenStar can deliver on ambitious engineering promises, exactly what global venture capital wants to see. The government has granted OpenStar a $35 million loan via the Rural Infrastructure Fund to build a bigger prototype – Tahi.

Shane Jones, Chris Bishop, and Christopher Luxon listen to OpenStar CEO and co-founder Ratu Mataira explain the plasma firing experiment.

Inside-out design

We dig into why this “inside-out” design could be simpler to build and maintain than giant international projects, how New Zealand-grown intellectual property in high‑temperature superconductors and flux pumps gives OpenStar a potential edge, and what comes next with its larger Tahi and Maui machines aimed at real fusion and, eventually, commercial-scale power. 

We also tackle the hard questions: tritium supply, neutron damage to reactor components, and whether a relatively small team in Wellington can compete with well-funded overseas rivals and decades of tokamak momentum.

If you are interested in energy, climate, deeptech or New Zealand’s science system, this episode goes deep on a genuine moonshot as it crosses from lab experiment into serious industrial ambition. 

Streaming on Spotify, Apple, iHeartRadio, or wherever you get your podcasts. Thanks to our sponsor 2degrees.

Show notes

OpenStar Plasma Showcase Event - Youtube

OpenStar completes critical step on nuclear fusion path - BusinessDesk

Openstar says $35m Government loan will help it stay in NZ - BusinessDesk

New Zealand fusion startup claims major advance in New Zealand trial - Bloomberg

Nuclear fusion seems hot right now — but how close is fusion power? - CBC

Chinese nuclear fusion reactor pushes plasma past crucial limit: what happens next - Nature