Latest news with #fusionenergy
Bloomberg
9 hours ago
- Business
- Bloomberg
With Google Deal, Fusion Energy Inches Closer to Reality
In news of the future, Google is buying a boatload of fusion energy. The only problem is that its supplier lacks a power plant, has produced no energy to date, and may never do so on commercially viable terms. Even so, wish them well: Few technologies could have a more profound effect on the future of global energy. Last month, Alphabet Inc.'s Google agreed to buy 200 megawatts of energy from Commonwealth Fusion Systems, a spinoff from a lab at the Massachusetts Institute of Technology that plans to build a fusion plant in Virginia. (Google is also an investor.) The goal is to start supplying power to the grid, and thus to Google's data centers, by the early 2030s.
Yahoo
a day ago
- Business
- Yahoo
Global fusion energy investment surges to $2.64bn
Global fusion energy investment has seen a surge, with an influx of $2.64bn since July 2024 marking the largest annual increase since 2022, as reported by Reuters citing a report by Fusion Industry Association. The financial influx was noted across key regions such as the US, the European Union (EU), Japan, China and the UK. The Fusion Industry Association, based in Washington, US, reported that total funding for the 53 surveyed fusion companies now stands at close to $9.77bn - a five-fold increase since 2021. 2025's figures show a 178% jump from just over $900m raised in 2024. Companies within the sector emphasise the necessity for increased funding to transition fusion energy into a commercially viable industry. Significant challenges in achieving commercialisation involve reducing the energy requirements to initiate reactions, ensuring that these reactions can proceed in a continuous manner and developing efficient systems for energy transfer. FIA CEO Andrew Holland stated: 'The acceleration of capital, even when the global economy has tightened, is a signal of maturing investor confidence, technological progress and a rapidly coalescing supply chain.' Notably absent from these figures is public funding for state-led fusion projects, an area in which China is at the forefront globally. Investment has been drawn from conventional fossil fuel companies, including Chevron and Shell's venture arms, Siemens Energy and Nucor — the US's largest steel producer. This increase in financial backing coincides with rising power demands driven by AI applications and data centre growth. Google recently announced its agreement to purchase electricity from Commonwealth Fusion Systems' anticipated plant in Virginia that aims to begin operations by the early 2030s. Despite this positive trend in financing, securing additional funds remains challenging according to 83% of survey respondents. Fusion enterprises estimate they will need between $3m and $12.5bn more, with a median figure of $700m, to launch their first pilot plants successfully. The collective amount deemed necessary by industry players totals approximately $77bn — an eightfold leap compared to current investor commitments — and could be reduced through expected consolidation within the industry. "Global fusion energy investment surges to $2.64bn" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
a day ago
- Business
- Yahoo
Fusion energy start-up claims to have cracked alchemy
A fusion energy start-up claims to have solved the millennia-old challenge of how to turn other metals into commonly Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Global investment in fusion energy rises the most since 2022
WASHINGTON, July 21 (Reuters) - Global fusion energy investment grew by $2.64 billion in the year since last July, an industry group said in an annual industry survey on Monday, but companies said they need much more money to take the industry commercial. The investment rise took place in places including the United States, the EU, Japan, China and Britain and was the highest since 2022. Total funding since 2021 for the 53 fusion companies in the survey by the Washington-based Fusion Industry Association, is now nearly $9.77 billion, a five-fold increase. This year's investment was a 178% jump from the more than $900 million raised last year. "The acceleration of capital, even when the global economy has tightened, is a signal of maturing investor confidence, technological progress, and a rapidly coalescing supply chain," said Andrew Holland, FIA's CEO. Fusion, which fuels the sun and stars, is in the experimental stage on Earth, but could one day generate enormous amounts of energy that emits virtually no greenhouse gas and without generating large amounts of long-lasting radioactive waste. Physicists work to replicate fusion reactions by forcing together light atoms with technology including lasers or giant magnets. Tall hurdles to commercialization include lowering the amount of energy needed to spur reactions, getting reactions to occur continuously, and systems to transmit the energy. The survey does not count public funding for public fusion projects, which China is believed to the world leader in. Venture arms of traditionally fossil fuel companies Chevron (CVX.N), opens new tab and Shell (SHEL.L), opens new tab and Siemens Energy ( opens new tab and Nucor (NUE.N), opens new tab, the largest U.S. steel producer, were some of the investors. The investment hike has benefited from a boom in power demand from artificial intelligence and data centers. Google (GOOGL.O), opens new tab said last month it had struck a deal to buy power from a Commonwealth Fusion systems plant in Virginia which hopes to generate power by the early 2030s. Despite the funding jump, 83% of respondents said they still consider getting investments challenging. Fusion companies said they would need an additional $3 million to $12.5 billion to bring their first pilot plants online, with a median response of $700 million. The total of $77 billion that respondents said they would need is about eight times more than has been committed by investors. Expected industry consolidation could reduce the total investment needed, the survey said.
Associated Press
16-07-2025
- Business
- Associated Press
Fuse Teams Up with Los Alamos National Laboratory (LANL), Signs Cooperative Research and Development Agreement (CRADA)
Partnership combines LANL's 80-year experience in high-energy density physics and Fuse's next-generation pulsed power systems SAN LEANDRO, Calif., July 16, 2025 /PRNewswire/ -- Fuse, a leading U.S.-based fusion company, today announced the signing of a Cooperative Research and Development Agreement (CRADA) with Los Alamos National Laboratory (LANL) to advance pulsed power technologies for fusion energy and national security. The partnership is designed to accelerate the development of technologies that support both the National Nuclear Security Administration's (NNSA) mission and the commercialization of fusion energy. As part of the agreement, LANL will evaluate Fuse's current and future hardware designs and cooperatively work to develop target designs, which will be tested by LANL and Fuse experts specializing in plasma, radiation, and energy outputs. This partnership brings together LANL's 80-year experience in high-energy density physics, plasma theory, computational modeling, and materials science with Fuse's novel, next-generation pulsed power and z-pinch systems. 'By working collaboratively with private sector partners like Fuse, we can accelerate the pace of innovation and ensure that critical capabilities are developed for the public benefit,' said Pat Fitch, deputy Laboratory director for Science, Technology and Engineering at Los Alamos. 'It is essential that the Laboratory and the private sector continue to learn from and support each other to address shared challenges and deliver on our responsibilities to the nation. We look forward to joining forces with Fuse.' Fuse has built impedance-matched Marx generators (IMG) and high-energy dense plasma focus (DPF) machines that are on the path to large-scale fusion machines. Fuse's current, operational hardware is critical for development of z-pinch targets, addressing plasma instabilities, and demonstrating the feasibility of fusion as a commercial energy source. James C. Owen, President of Fuse Federal commented, 'This partnership connects Fuse's commercial fusion technology development with Los Alamos' scientific expertise to benefit national security and both public and private interests. Fuse's team will work closely with LANL to advance national security and the realization of commercial fusion energy.' Lisa Gordon-Hagerty, Fuse Board of Directors member and former Under Secretary of Energy for Nuclear Security and NNSA Administrator, commented, 'Fuse is providing a critical national security capability that will be utilized in full spectrum radiation testing for nuclear and conventional delivery platforms and their associated payloads. Fuse's partnership with LANL will further augment the incredible capabilities supporting the US strategic deterrent.' JC Btaiche, Fuse Founder and CEO, said, 'Nuclear fusion is the holy grail of energy; and energy security is national security. On the path to commercial fusion power, Fuse is uniquely positioned and proud to deliver technology supporting nuclear security and deterrence.' About Fuse Federal Fuse Federal is a subsidiary of U.S.-based Fuse Energy Technologies Corporation and is focused on U.S. Government customers. The company is accelerating the world's transition to fusion energy by securing clean, reliable, global energy abundance while also ensuring U.S. and Allied competitiveness. About Los Alamos National Laboratory Los Alamos National Laboratory is a multi-program, federally funded research and development center for the National Nuclear Security Administration of the U.S. Department of Energy. The Laboratory's priority roles are serving as a nuclear weapons design agency and a nuclear weapons production agency; addressing nuclear threats; and performing national security science, technology, and engineering. View original content to download multimedia: SOURCE Fuse Energy Technologies Corporation
