Fusion Industry Association

Catch up on the latest with this week's Fusion Industry Association newsletter - here's CEO Andrew Holland's intro... Last week, we launched our Global Fusion Industry in 2024 report, highlighting advancements and increased investment in fusion companies worldwide. There was lots of good news this year with total investments reaching over $7.1bn, $900 million of new funds, and public funding into public-private partnership programs increasing by 57%. The report has gained attention in the media, so be sure to keep up with this. We saw a big announcement this week from South Korea as the Ministry of Science announced a new plan to prioritize fusion. In Europe, newly re-elected European Commission president Ursula von der Leyen is leading a charge to boost EU competitiveness. She announced a European Competitiveness Fund to de-risk investment in strategic technologies. Fusion energy must be a part of this effort. In Japan, Sanae Takaichi, Minister of Economy, Trade and Industry, announced plans to revise the national strategy for fusion power generation in the 2030s, instead of the original plan for demonstration by 2050. This comes after last year’s launch of Japan’s Fusion Energy Innovation Strategy. In the UK, the FIA responded to a consultation about siting and planning for fusion, broadly welcoming the step and agreeing with proposals. As always, thank you for keeping up with the FIA and all our activity. Andrew Holland Chief Executive Officer Fusion Industry Association https://lnkd.in/eWyHrjMz

Last week, we launched our 2024 global fusion industry report, highlighting updates in investment, jobs growth, public-private partnerships, and more. Here's a quick roundup of media coverage for those interested: https://lnkd.in/e83Gpy9M

The Fusion Industry Association has released its latest annual report. It's a must-read for anyone interested in the emerging fusion industry. https://lnkd.in/d8tQSQGf Among the key findings: ☀ Total investment rises to over $7.1 billion, with notable deals for Xcimer Energy Corporation ($100m), SHINE Technologies ($90m) and Helion ($65m) ☀ More than 4,000 people around the world are now employed in private fusion companies, an increase of 34% in the past year ☀ Public-private partnerships have moved forward in the past year in the US, German, Japan and UK ☀ Timeline for producing fusion-generated electricity remains in 2030s ☀ Two-thirds of the 45 companies surveyed believe funding will be a barrier to success #fusioniscoming #fusionenergy

A new report has found that the fusion industry has attracted over $7.1bn of investment, with over $900m of new funds backing the technology since last year. As part of that, total public funding increased by 57 per cent in the last 12 months to $426m. The figures come from the Fusion Industry Association (FIA)’s 'The Global Fusion Industry in 2024' report, which surveyed 45 private fusion companies. Read the full report over on our website here 👇 https://lnkd.in/e8YVDpzz #theengineer #fusion #industry #investment #funding

New global fusion industry report out now! Today we launch our 2024 report, giving an updated snapshot of where the private fusion industry stands. The global fusion industry has now attracted over $7.1bn of investment, with over $900m of new funds backing the technology since last year. Total public funding increased by 57% in the last 12 months to $426m, showing governments increasingly see public-private partnerships as central to making commercial fusion a reality. Companies remain steadfast in their projected timelines for producing fusion-generated electricity in the 2030s, with 89% of the companies responding to the survey anticipating that fusion will provide electricity to the grid by the end of 2030s, and 70% of the companies saying that milestone will happen by the end of 2035. Over 4,000 people around the world are now employed at private fusion companies. However, there are still major challenges to overcome and, between 2025 and 2030, two-thirds of respondents believe power efficiency will be a major challenge, while the same proportion (66%) believe funding will be a barrier to success. Read the full report to gain further insight into today’s global fusion industry and profiles of the developers. About the Report This is the fourth annual “Global Fusion Industry Report” from the Fusion Industry Association. Responses are based on answers to a survey issued to private fusion companies. This survey should be seen as a snapshot in time; a view of the industry when the survey was conducted in the second quarter of 2024. Repeating the activity year-on-year enables us to see the picture evolving. https://lnkd.in/ehrCBjPM #FusionEnergy #FusionIndustry

To watch the U.S. Department of State Virtual Science Dialogue with Andrew Holland, Jean Paul Allain, Steffi Diem, and Scott Hsu, you can tune in for the recording here: https://lnkd.in/er7f5TJu

Tomorrow, July 3, Deutscher Bundestag is hosting a hearing on developing a legal framework for fusion power plants in Germany. The motion - "For a pragmatic, innovation-friendly legal framework for fusion power plants in Germany and Europe" - was put forward by CDU/CSU-Bundestagsfraktion. MPs are calling on the federal government to urgently develop a proposal for a fusion power plant legal framework - and to then submit the proposal for review by relevant committees of the Deutscher Bundestag. A group of experts including representatives at FIA member companies Commonwealth Fusion Systems, Proxima Fusion, and Marvel Fusion will testify: - Sara Castegini, Commonwealth Fusion Systems - Heike Freund, Marvel Fusion, Pro Fusion - Prof. Dr. Constantin Haefner, Fraunhofer ILT - Christian Linsmeier, Forschungszentrum Jülich - Robert Wolf, Max Planck Institute for Plasma Physics - Hannes Vogel, Proxima Fusion This hearing represents a critical step in ensuring Germany develops the necessary regulatory infrastructure to support the accelerating fusion industry. The Fusion Industry Association applauds the German government and all involved, and stands ready to support. You can watch live at 9:30am CEST. https://lnkd.in/eYxnA8JF #Fusionskraftwerke

Out now! We're excited to announce the release of the Fusion Industry Association’s 2024 Supply Chain Report. The report surveys fusion developers and suppliers to get a snapshot of where the supply chain stands as the fusion industry grows. Designed to capture and analyze trends, challenges, and opportunities within the industry, this report serves as a resource to better understand the web of supply and demand in fusion energy, and to help guide investment and policy strategy to support the realization of commercial fusion power at scale. This year's report finds an increase in supply chain spending, investment opportunities, specific technological and material constraints, and plans by supplier companies to expand their collaboration with fusion developers over the course of the year. The report also shows there is still a need for greater long term certainty around financing and policy to give suppliers the confidence to scale up and meet the future needs of the fusion industry. Key findings: - Increased supply chain spend - 2023 saw a growth in reported supply chain spend. The reported figure of $484,900,000 in 2022 grew to $612,184,500 in 2023. This is a significant undercount since not all companies provided spend data. - Projected growth for 2024 - Fusion companies reported plans to spend 21% more on their supply chain in 2024 vs 2023. - Challenges and risks - A variety of critical components were highlighted as having current or future supply risks, including cryogenic devices, HTS wire, power electronics, and vacuum chambers. - Investing capacity - 77% of our fusion supply chain member companies are investing in growing their capacity to support the fusion industry, with investments ranging from tens of thousands to several million. - Expansion plans - 100% of supply chain respondents plan to expand their work with fusion companies over 2024. - Need for long-term financial and policy certainty - Greater long term certainty around financing and policy is still needed to give the supply chain confidence to scale up to meet future needs of the fusion industry. You can read the full report at the link: https://lnkd.in/eb__j46B P.S. Stay tuned for our 2024 global fusion industry report - launching in a couple weeks.

As the United Kingdom general election draws closer, the Fusion Industry Association is delighted to have worked with The Fusion Cluster to lay out the importance of the fusion sector to the UK and issue key asks of incoming Parliamentarians and Ministers. Commercial fusion’s contributions to energy security, the economy, and to science & innovation represent a huge and imminent opportunity. The FIA and The Fusion Cluster call on all incoming MPs and Government to: 1. Visit the UK’s public and private fusion facilities, and see that we are ready to deliver. 2. Sustain support for: the STEP programme, wider UKAEA research activities, and progression of other fusion technologies towards first plants. 3. Progress the UK Atomic Energy Authority’s work supporting skills and driving growth in innovative private industry in the UK. 4. Continue and deepen support for international and multilateral cooperation to accelerate the deployment of fusion energy. 5. Continue supporting measures to stimulate private fusion investment. 6. Continue developing the planning measure, National Policy Statement EN-8. 7. Begin to develop, with industry, an energy market framework which is ready to adopt private fusion powerplants. The global race for commercial fusion is on, with companies aiming to deliver commercial plants through the coming years – making large-scale deployment through the 2030s and 2040s a real prospect. The fusion industry could be worth £billions to the economy in the coming decades – and offers a British export to overcome global climate change. This will only be possible if we stimulate private investment, alongside public programmes, to develop, operate and own fusion technology across the value chain. You can read the full strategy document at the link below. https://lnkd.in/ei72GgPz

US fusion regulatory progress, G7 commits to fusion collaboration, and a new FIA policy paper out... Catch up on the latest in fusion in today's Fusion Industry Association newsletter - here's CEO Andrew Holland's intro: Hello from San Francisco! This week, I’m at Deep Tech Week 2024. It’s always good to bring fusion to a broader audience of science and tech leaders, and it’s been great to see many friends and make new ones. Back in D.C., we expect to see the Fusion Energy Act signed into law shortly, codifying the bipartisan, unanimous decision last year to regulate fusion energy completely separate from nuclear fission. Read more on our website about progress on appropriate regulation. Earlier this month, Canadian Fusion Day 2024 introduced a roadmap for a national fusion energy strategy at an event with a number of FIA leaders. If implemented, it could place Canada as a global leader in fusion. In Italy, the leaders of the G7 met for their 50th summit among the major economies. The Leaders’ Communiqué included fusion, establishing a G7 Working Group on Fusion Energy, and will work together to achieve consistent fusion regulatory approaches. As the worldwide race to commercialization continues, we’ve seen more activity in fusion at the policy level than ever before. In support of this, on Monday, we launched Commercializing Fusion Energy - a paper that outlines the positions governments can take that will attract and accelerate industry. We hope this will be a useful tool for policymakers looking to position themselves as a leading player in commercial fusion. As always, thank you for keeping up with the FIA and all our activity. Andrew Holland Chief Executive Officer Fusion Industry Association P.S. Next week, the FIA will release our updated annual supply chain report. And next month, we’ll launch our annual global fusion industry report. We’re excited for everyone to gain updated insight on where industry stands today. In the meantime, you can find last year’s versions on our website. Full newsletter: https://lnkd.in/eeb_qbjU