Fusion energy is not only coming, the private device companies and their investors are steaming ahead.
- Yesterday, Commonwealth Fusion Systems, building its proof-of-concept compact fusion device at Devens, Massachusetts, announced $1.8 billion in funding commitments and a net energy goal of 2025.
- This week, General Fusion closed an oversubscribed $130 million financing round; this on top of the UK’s pledge of more than $1 billion in public monies to General Fusion’s site development at the UKAEA’s Culham Campus (This public private partnership also underscored fusion’s role and viability at the UN Conference of the Parties as an energy source joining the climate fight).
- In November, Helion Energy in Washington state announced $2.2 billion in funding commitments, alongside expectations of net energy production by 2024.
These are just a few of the companies developing varying approaches to this fossil disrupting energy source. Hold on to your hats–we have a game changer in our war on climate change.
Fusion’s early champions from U.S. Representative Don Beyer creating the Congressional Fusion Caucus, to utility CEOs, mainstream media, and educational curriculum developers are all part of our early years of fusion outreach. As the reality of fusion nears, ECG is focusing our educational work in partnership with environmental and public NGOs, educators, and our green energy leaders within the renewable energy community. Our milestones focus on the regulatory, policy, licensing, political, and energy leadership who must become fusion educated to match the exciting timeframe our scientists are now creating.
Next week, we reach one of our own milestones when we co-host, with the Conservation Law Foundation and the Environmental League of Massachusetts, a first of its kind, NGO fusion education event. This is one step in our fusion energy advocacy and education work among the daily collaboration with partners and our ever-expanding network of NGOs, commercial entities, the public, and legislative representatives.
Congratulations to CFS, Helion, and General Fusion! Fusion can and will be key in the development of jobs for climate and is a vital addition to the green economy which will increasingly power the planet.
Let’s all work together to bring fusion to commercialization no matter the device soon enough to make a difference!