Stellarator fusion energy company Type One Energy will collaborate with private equity firm Pine Island New Energy Partners (PINEP) to accelerate the maturation of a more robust supply chain for the fusion energy industry, the companies announced last week.

Type One Energy said it has entered into a cooperative agreement with the Tennessee Valley Authority to jointly develop plans for a potential TVA fusion power plant project in the Tennessee Valley region using Type One Energy stellarator fusion power technology. The company said its 350-MWe fusion pilot power plant, named Infinity Two, could provide a complementary source of baseload electrical generation for the region as early as the mid-2030s.

The University of California–San Diego has joined a new research collaborative focused on overcoming critical obstacles in developing and scaling up inertial fusion power plants. Led by San Diego-based General Atomics, the group was one of six research teams that were collectively awarded $107 million in January by the Department of Energy as part of the Fusion Innovative Research Engine (FIRE) Collaboratives.

The Department of Energy announced six Fusion Innovative Research Engine (FIRE) collaboratives set to receive funding of $107 million on January 16. The six selected teams represent a first round of awards from a funding opportunity announcement released in May 2023 as part of the DOE Office of Fusion Energy Sciences’ (FES) goal of creating a “fusion innovation ecosystem.”

Commonwealth Fusion Systems (CFS) has announced that it plans to build a fusion power plant, named ARC, at the James River Industrial Park in Chesterfield County, Va.—and that it expects to be the first company to make fusion power available at grid scale.

Cambridge, Mass.–based fusion startup Acceleron Fusion announced that it has closed a $24 million Series A funding round co-led by Lowercarbon Capital and Collaborative Fund. According to Acceleron, the funding will fuel the company’s efforts to advance its low-temperature muon-catalyzed fusion technology.

Tokamak Energy’s ST40 experimental fusion facility will receive a $52 million upgrade under a joint public-private effort with the U.S. Department of Energy and the U.K. Department of Energy Security and Net Zero (DESNZ) aimed at advancing the fusion science and technology needed to deliver a future pilot plant.

TitletownTech, a venture capital firm formed out of a partnership between Microsoft and the Green Bay Packers, has invested in Realta Fusion, a private fusion startup company that was spun out of an ARPA-E-funded fusion project at the University of Wisconsin–Madison in 2022. Realta is developing modular, compact, magnetic mirror fusion energy generators as an economic, zero-carbon solution to power AI-driven infrastructure and other industrial applications. TitletownTech did not disclose the details of its investment.

Last week's inaugural ministerial meeting of the IAEA World Fusion Energy Group (WFEG), in Rome, Italy, drew government ministers and senior officials who represented “dozens of countries” interested in fusion energy technology.

Leadership of the United Kingdom’s STEP (Spherical Tokamak for Energy Production) fusion program has transitioned to U.K. Industrial Fusion Solutions Ltd. (UKIFS), a wholly owned subsidiary of the U.K. Atomic Energy Authority (UKAEA). UKIFS was established in February 2023 to lead a public-private partnership that will design, build, and operate the STEP prototype fusion energy plant in Nottinghamshire in England’s East Midlands region.

With more than 40 fusion development companies announcing plans and funding, it’s hard for a newcomer to stand out, but Pacific Fusion is giving it a try. The company, based in Fremont, Calif., was founded in summer 2023 and emerged from “stealth mode” last Friday with $900 million in committed funding from investors, a team that includes people directly involved in the successful ignition experiments at Lawrence Livermore National Laboratory’s National Ignition Facility (NIF), and a technical paper that makes a case for a pulsed magnetic fusion approach to fusion energy.

Earlier this month, General Atomics made its Fusion Synthesis Engine (FUSE) software available to others who want to design and build magnetic confinement fusion power plants.

The Department of Energy announced yesterday a total of $49 million in funding for 19 projects in the Foundational Fusion Materials, Nuclear Science, and Technology programs that span functional and structural materials R&D for heating technology, magnet technology, blankets, fuel cycle, and first wall research.

Hours before the Senate Committee on Environment and Natural Resources (ENR) opened a scheduled September 19 hearing on fusion energy technology development, CNN published an article titled “The US led on nuclear fusion for decades. Now China is in a position to win the race.” The article was entered into the hearing record, but senators had already gotten the message.

Japan’s recent moves to boost fusion power in the nation’s energy plan and accelerate the timeline for a prototype fusion power plant come in response to increased global attention on fusion energy. Even as ITER faces delays, more than 40 private fusion developers are pursuing different technologies and competing for attention. And so are other countries, including the United Kingdom, which announced its plans for a fusion pilot plant back in 2019. Fusion companies and nations alike are responding to a growing sense that there is a race—or at least collective momentum—to commercialize fusion energy.

The magnetic mirror fusion concept dates to the early 1950s, but decades ago it was sidelined by technical difficulties and researchers turned to tokamak fusion in their quest for confinement. Now it’s getting another look—with significantly more powerful technology—through WHAM, the Wisconsin HTS Axisymmetric Mirror, an experiment in partnership between startup Realta Fusion and the University of Wisconsin–Madison.

Following new federal funding and programs announced in June to support a “bold decadal vision” for fusion energy in the United States, and the enactment of the Fusion Energy Act in July, fusion energy trade group the Fusion Industry Association has released its latest annual survey of fusion companies: The Global Fusion Industry in 2024.

This fourth annual report includes responses from three companies that were not surveyed in 2023 as well as an additional $900 million of reported funding in the past year. That’s growth—but growth that falls short of the “bold” expectations set by the eye-popping $2.8 billion of funding reported by private companies in 2022, as media outlets—including Reuters, with the headline “Global Fusion Energy Investment Growth Falls for Second Year”—were quick to point out.

Craig Piercy
cpiercy@ans.org

A good bit of this month’s edition of Nuclear News is devoted to the latest developments in fusion energy.

While 2024 may not have the punchy investment headlines of ’22, I think it’s fair to say that fusion energy technology is making tangible progress beneath the surface, with unannounced stealth funding plans and the continuation of public-private partnerships.

When will it become a productive element of our global energy architecture? No one knows for sure. There are still myriad challenges to be solved in high-temperature ­materials, high–critical temperature superconductors, advanced algorithms, and tritium fuel cycle control, just to name a few. But every day, fusion feels a tiny bit more mature, like somehow it has left its childhood bedroom in physics to move into the dorm room of engineering.

Just one week after the White House Office of Science and Technology Policy hosted a summit on domestic nuclear deployment, they filled a room again on June 6 for a livestreamed event cohosted with the Department of Energy to announce a new DOE fusion energy strategy and new public-private partnership programs, and to hear directly from stakeholders—including scientists, private fusion companies, investors, and end users—during panel discussions on fusion science and technology progress and the path to fusion energy commercialization.

Xcimer Energy announced June 4 that it has raised $100 million in Series A financing for a new facility in Denver, Colo., that will host a prototype laser system with “the world’s largest nonlinear optical pulse compression system.” As a private fusion developer, Xcimer wants to “extend the proven science of inertial fusion to industrial scale” with the help of that laser system and “key technologies and innovations from multiple fields.”