Fusion energy gains prominence
Increasing numbers of private companies are aiming to deliver commercial fusion and producing significant breakthroughs in the science
There is growing excitement about fusion energy as an option to contribute to the world’s low-carbon energy supply.
Increasing numbers of private companies are aiming to deliver commercial fusion and producing significant breakthroughs in the science and technology that will lead to a commercial power plant.
Now, a new survey from the Fusion Industry Association (FIA) and the UK Atomic Energy Authority provides a snapshot of the state of the growing fusion industry.
The Global Fusion Industry in 2021 survey, the first by FIA and UKAEA, aims to build a directory of fusion energy businesses and provide a periodic update on the sector. It compiles information provided by 23 private companies developing commercial fusion power, including the world’s most advanced players.
There are now at least 35 global fusion companies (12 are either early stage or in stealth mode so declined to participate in the survey) and progress is accelerating. Of the 23 companies featured, 15 (65%) were founded since 2010.
18 of the 23 companies have declared private funding of almost $1.8bn to date, plus an additional $85 million in grants and other funding from governments taking the total to $1.87bn. Four companies – Commonwealth Fusion Systems, General Fusion, TAE Technologies and Tokamak Energy – currently account for 85% of this funding. There is still enormous scope for investment and innovation in this emerging industry.