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.
Companies are taking a variety of technical approaches to solving
the challenges of fusion power, working on a range of scales.
The vast majority of fusion innovation is focussed on electricity
generation, named as a core target market for all but one of the
companies questioned (96%), but, interestingly, almost half see
the possibility of also applying their technology to space
propulsion.
The survey found that 71% of companies believe a 2030s target is
achievable for the clean energy technology, while 20% believe
that it won’t be ready until the 2040s or 50s.
“Fusion has the potential to revolutionise the low-carbon energy
supply and provide the non-variable power that will be required
to meet the world’s ambitious goals. This survey shows how,
largely outside the headlines, the private fusion industry is
accelerating towards commercial power,” said Melanie Windridge,
Communications Director at the Fusion Industry Association. “The
ambitious timescales highlighted in our first Fusion Companies
Survey demonstrate the drive and commitment that exists within
this growing industry.”
“The global need for schedulable and abundant low-carbon energy
now presents itself to us with a stark clarity, and so the
imperative for fusion energy has never been never greater,”
commented Tim Bestwick, Chief Technology Officer at the UK Atomic
Energy Authority. “We are very pleased to have partnered with FIA
to produce this survey, which we hope will be a useful and
important reference for all of us involved in this exciting new
industry.”
