The U.S. Department of Energy (DOE) has announced $46 million in funding for eight companies involved in the advancement of fusion power plant designs and research. This funding represents a significant step towards President Biden’s goal of achieving a pilot-scale demonstration of fusion within the next ten years. Fusion reactions, which power the stars, hold the potential for providing a safe, abundant, and non-carbon-emitting energy source for the planet. Through the Milestone-Based Fusion Development Program, this funding aims to solidify U.S. leadership in fusion commercialization and support the nation’s commitment to reaching a net-zero economy by 2050.
Over the next five to ten years, the selected companies will address scientific and technological challenges to develop designs for a fusion pilot plant, which will contribute to the technical and commercial viability of fusion energy. The program draws inspiration from NASA’s Commercial Orbital Transportation Services program, which facilitated commercial space launch capabilities.
The eight awardees include Commonwealth Fusion Systems, Focused Energy Inc., Princeton Stellarators Inc., Realta Fusion Inc., Tokamak Energy Inc., Type One Energy Group, Xcimer Energy Inc., and Zap Energy Inc.
This funding plays a crucial role in fulfilling the objectives set forth by the Biden-Harris Administration during the White House summit on Commercial Fusion Energy in March 2022.
In December, researchers at DOE’s Lawrence Livermore National Laboratory achieved fusion ignition and generated more energy from fusion than the energy input required. This breakthrough demonstrated the feasibility of fusion as a clean energy source and showcased the maturity of fusion science to support the development of a fusion pilot plant.
The recipients of the funding underwent a rigorous peer-review process, evaluating their scientific, technical, commercialization, business, and financial viability. Additionally, the companies’ plans to support the DOE’s efforts in advancing President Biden’s Justice40 Initiative, which aims to direct 40 per cent of certain climate and energy investments’ benefits to disadvantaged communities, were considered.
The allocated funding of $46 million covers the first 18 months, utilizing funds from Fiscal Years 2022 and 2023. Projects can have a duration of up to five years, subject to future congressional appropriations and the teams’ satisfactory progress in achieving the agreed-upon milestones.
